AFRICAN PHOENIX INVESTMENTS LIMITED - Disclosure of Beneficial Interest in Securities

Disclosure of Beneficial Interest in Securities

AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL         ISIN: ZAE000221370
Hybrid instrument code: AXLP        ISIN: ZAE000221388
(“ African Phoenix” or “the Company”)


DISCLOSURE OF BENEFICIAL INTEREST IN SECURITIES


In compliance with section 122(3)(b) of the Companies Act, 2008 (Act 71 of 2008), as amended
(“Companies Act”) and paragraph 3.83(b) of the Listings Requirements of JSE Limited, shareholders
are advised that African Phoenix has received notification in terms of section 122(1) of the Companies
Act that Value Capital Partners Proprietary Limited, has acquired a beneficial interest in the ordinary
shares of the Company, such that its entire beneficial interest amounts to 15.15% of the total number
of ordinary shares in issue.

As required in terms of section 122(3)(a) of the Companies Act, African Phoenix has filed the required
notice with the Takeover Regulation Panel.


Johannesburg
22 February 2019

Sponsor
Merchantec Capital

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