THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser who is authorised under the Financial Services and Markets Act 2000 (as amended) immediately.

This Redemption Notice should be read in conjunction with the accompanying circular to Shareholders dated 7 November 2016 from Sacoven Plc to its shareholders (the "Circular"). Terms used in this Redemption Notice and not otherwise defined herein have the same meaning as in the Circular.

If you have sold or otherwise transferred all of your Ordinary Shares in the Company, please send the accompanying Circular and Form of Proxy immediately to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for onward transmission to the purchaser or transferee. If you have sold or otherwise transferred only part of your holding of Ordinary Shares in the Company, you should retain the Circular.

REDEMPTION NOTICE

Sacoven Plc

(Incorporated in Jersey with Registration No. 110296)

Proposed Redemption of Ordinary Shares

ACTION TO BE TAKEN

  • To redeem your Ordinary Shares, complete this Redemption Notice on page 3 by following the corresponding instructions set out on page 2. Additional information regarding the completion and lodging of this Redemption Notice is provided on page 4. A Redemption Notice, once lodged, cannot be withdrawn. Full terms and conditions of the Redemption are set out in the accompanying Circular.

  • The Redemption Price per Ordinary Share is 75.4035 pence. The estimated amount per Ordinary Share which a Shareholder would receive on a winding up of the Company if no Ordinary Shares are redeemed is 38 pence.

  • For Ordinary Shares held in certificated form the completed and signed Redemption Notice(s) should be sent either by post or by hand (during business hours only) to the Receiving Agent, Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ as soon as possible and, in any event, so as to be received by no later than 1.00 p.m. UK time (3.00p.m. SA time) on 5 December 2016.

  • The Redemption Notice(s) should be sent together with your share certificate(s) and/or other document(s) of title.

    Please note:

  • You should complete separate Redemption Notices for Ordinary Shares held in certificated form but under different designations. You can obtain additional Redemption Notices at the address set out at the bottom of this page.

  • Please read Part II of the Circular, the terms of which are incorporated in and form part of this Redemption Notice.

  • If you require further copies of the Redemption Notice, please contact Computershare Investor Services PLC on 0370 707 4040. The helpline is open from 9.00a.m. to 5.00p.m. UK time (11.00a.m. to 7.00p.m. SA time) on any UK business day. The helpline cannot provide advice on the merits of the Redemption nor give any financial, legal or tax advice.

  • The Company reserves the right to treat any redemptions as valid if received at any time, place or in any manner determined by them otherwise than as set out in this Redemption Notice or in the accompanying Circular.

Further copies of the Circular and this Redemption Notice are available from Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ.

HOW TO COMPLETE THIS FORM

1 To the Company

I/We, whose name appear(s) in Box 1, having received the Circular, hereby offers to redeem at the Redemption Price the number of Ordinary Shares inserted or deemed to be inserted in Box 2 (as applicable) and which are recorded against my/our name(s) on the Register on the Record Date on the terms and subject to the

conditions set out in Part II of the Circular and in this Redemption Notice, for settlement in cash.

To the extent that my/our Ordinary Share certificate(s) is/are readily available, I/we enclose the Ordinary Share certificate(s) and/or other document(s) of title in respect

of the Ordinary Shares to be redeemed. Please check the following details:

  • Name(s) and address: If your name(s) and addresses are shown incorrectly on this Redemption Notice or on any of your Ordinary Share certificates see Note 4B below

2 Election to Redeem Ordinary Shares

If you wish to redeem all of your Ordinary Shares, insert the word "ALL" in Box 2A.

Shareholders are not permitted to redeem a number of Ordinary Shares LESS than your current holding of Ordinary Shares.

3Signatures

If you wish to redeem your Ordinary Shares, you MUST sign Box 3, regardless of which other Box(es) you complete. In the case of a joint holding, all the joint holders

must sign.

By signing Box 3 you are irrevocably redeeming your Ordinary Shares on the terms of the Redemption as described in the Circular and this Redemption Notice.

Each individual signing must do so in the presence of an independent witness, who must be over 18 years of age and should not be one of the joint registered holders or otherwise have any financial interest in the relevant Ordinary Shares or in the proceeds resulting from the execution of this Redemption Notice. The witness should state his or her name and address and sign where indicated. The same person may witness each signature of joint holders.

If this Redemption Notice is not signed by the registered holder(s), insert the name(s) and the capacity (e.g. executor(s)) of the person(s) signing this Redemption Notice. You should deliver evidence of your authority in accordance with the further Notes on page 4

of this form. A company incorporated in England and Wales may affix its common seal, which should also be witnessed in accordance with its articles of association or other applicable regulation.

Alternatively, a company to which section 36A of the Companies Act 1985 (as amended) applies may execute this Redemption Notice as a deed by two directors or one director and the company secretary in the execution part of Box 3.

Notes

Please ensure you enclose your share certificate(s) and/or other document(s) of title

Alternative address for consideration and returned

document(s)

4B

Change of details

If you want your consideration and/or other documents to be sent to someone other than the first named registered holder at the address set out on page 3 below (e.g. your bank manager or stockbroker), you should complete Box 4A

If your name or address in the box at the top of page 3 has changed or is incorrect please complete Box 4B with your new/correct name or address, as appropriate.

4 4A IF YOU DO NOT WISH TO REDEEM ANY OF YOUR ORDINARY SHARES DO NOT COMPLETE THIS FORM 1

Holding as at 4 November 2016

PLEASE COMPLETE IN BLOCK CAPITALS INSTRUCTIONS AND FURTHER NOTES ARE SET OUT IN PAGES 2 AND 4 2 ELECTION TO PARTICIPATE IN THE REDEMPTION

If you wish to redeem all of your Ordinary Shares, please insert the word "ALL" in this Box:

3 SIGN HERE TO REDEEM ORDINARY SHARES

Executed and delivered as a deed by:

(a) Signature by an individual

Witnessed by:

Witness Name and Address:

First Holder and Date:

Signature

Name and Address

Joint holders and Date:

Signature

Name and Address

Joint holders and Date:

Signature

Name and Address

Joint holders and Date:

Signature

Name and Address

Note: The signature of each registered holder should be witnessed and the witness must also sign and print his name and address where indicated.

(b) Execution by a company

Executed and delivered as a deed by:

Name of company

Signature of Director

Name of Director

Signature of second Director or Secretary

Name of second Director or Secretary

PLEASE ENTER HERE A DAYTIME TELEPHONE NUMBER (INCLUDING STD CODE) WHERE YOU CAN BE REACHED IN THE EVENT OF A QUERY ARISING FROM COMPLETION OF THIS REDEMPTION NOTICE.

4 4A 4B ALTERNATIVE ADDRESS CHANGE OF ADDRESS

Address to which consideration or returned documents should be sent, New/Correct registered address (to be written in BLOCK CAPITALS) if not as set out above (to be written in BLOCK CAPITALS)

Name and address

Address

Postcode Postcode

ADDITIONAL NOTES REGARDING THE COMPLETION AND LODGING OF THIS REDEMPTION NOTICE

In order to be valid, this Redemption Notice must, except as mentioned below, be executed personally by the registered Shareholder (or under a power of attorney, in which case the power of attorney or a duly certified copy, as provided in the Powers of Attorney Act 1971, should be lodged with this Redemption Notice). In the case of a joint registered shareholding, ALL the registered Shareholders must execute this Redemption Notice. All signatures must be witnessed by someone who is not a joint registered shareholder. A body corporate must either execute this Redemption Notice under seal, the seal being affixed and witnessed in accordance with its articles of association or other regulations, or otherwise validly execute and deliver this Redemption Notice as a deed.

  1. If a holder is away from home (e.g. abroad or on holiday):

    Send this Redemption Notice by the quickest means (e.g. air mail) to the holder for execution or, if he has executed a power of attorney, have this Redemption Notice signed by the attorney. In the latter case, the power of attorney (or a copy thereof duly certified) must be lodged with this Redemption Notice for noting. No other signatures are acceptable.

  2. If you have sold all of your holding of Ordinary Shares:

    If you have sold all your holding of Ordinary Shares, you should at once send the accompanying Circular and Form of Proxy to the purchaser or to the stockbroker, bank or other agent through whom you made the sale for transmission to the purchaser.

  3. If the sole Shareholder has died:

    If probate or letters of administration has/have been registered with the Company or its Registrars, this Redemption Notice must be executed by the personal representative(s) of the deceased. If probate or letters of administration has/have been granted but has/have not been registered with the Company or its Registrars, the personal representative(s) of the deceased should execute this Redemption Notice and forward it to Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ with the share certificate(s) and/or other documents of title, and a sealed copy of the probate or letters of administration must be lodged as soon as possible thereafter and, in any event, so as to arrive by no later than 1.00 p.m. UK time (3.00p.m. SA time) on 5 December 2016.

  4. If one of the joint registered Shareholders has died:

    This Redemption Notice is valid if executed by all the surviving Shareholders and lodged with Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ, accompanied by the death certificate, probate or letters of administration of the deceased Shareholder.

  5. If your do not have your share certificate(s) and/or other document(s) of title:

    If your Ordinary Share certificate(s) and/or other document(s) of title is/are held by your bank or some other agent, complete this Redemption Notice and deliver this completed Redemption Notice to your agent for lodging with Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ, accompanied by any relevant Ordinary Share certificate(s) and/or document(s) of title that you have available and a letter stating that the "certificates are to follow".

  6. If one or all of your certificate(s) has/have been lost:

    Complete and lodge this Redemption Notice with a letter of explanation and any share certificate(s) and/or other document(s) of title available with Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ. At the same time, you should request a letter of indemnity from Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ which you should then complete in accordance with the instructions given. When completed, the letter of indemnity must be lodged with Computershare Investor Services PLC, Corporate Actions Priority Applications, The Pavilions, Bridgwater Road, Bristol BS99 6AJ by no later than 1.00 p.m. UK time (3.00p.m. SA time) on 5 December 2016. No payment will be made under the terms of the Redemption unless share certificate(s) and/or other document(s) of title, or an acceptable indemnity in lieu thereof, is/are received by no later than 1.00 p.m. on 5 December 2016.

  7. If your full name or other particulars differ from those appearing on your share certificate(s):

    1. incorrect name - complete and lodge this Redemption Notice with the correct name and accompanied by a letter from your bank, stockbroker or solicitor confirming that the person described on the certificate and the person who has executed this Redemption Notice are one and the same;

    2. incorrect address - write the correct address in Box 4B on this Redemption Notice;

    3. change of name - lodge your marriage certificate or deed poll with this Redemption Notice for noting.

    4. Please note in order for the Redemption Notice to be valid all relevant documents must be lodged on or before the closing date of 1.00 p.m. UK time (3.00p.m. SA time) on 5 December 2016 otherwise the redemption will NOT be valid and no Ordinary Shares will be redeemed.
      5. Without prejudice to Part II of the Circular, the Company reserves the right to treat as valid any Redemption Notice which is not entirely in order or which is not accompanied by the relevant share certificate(s) and/or other document(s) of title. In that event, no consideration due to you under the Redemption will be sent until after the relevant share certificate(s) and/or other document(s) of title or indemnities satisfactory to the Company have been received.

    Sacoven plc published this content on 07 November 2016 and is solely responsible for the information contained herein.
    Distributed by Public, unedited and unaltered, on 07 November 2016 14:15:03 UTC.

    Original documenthttp://www.sacoven.com/files/reports/pdf_55.pdf

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