CAPITAL APPRECIATION LIMITED - Results of the General Meeting

Results of the General Meeting

Capital Appreciation Limited
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06) JSE Share Code: CTA
ISIN: ZAE000208245
(“CAPPREC” or the “Company”)

RESULTS OF THE GENERAL MEETING

Shareholders are referred to the announcements released on SENS on 10 June 2019, 18 June 2019 and 29 July 2019 regarding a
specific share repurchase and small related party transaction (“the Transaction”). In this regard, the General Meeting to approve
the Transaction was held on Tuesday, 27 August 2019 (“General Meeting”) and all resolutions proposed at the General Meeting
were passed by the requisite majority of shareholders.

The following information is provided:

 Total issued number of ordinary shares                                                                          1 555 000 000

 Total number of ordinary shares that can be exercised at the meeting (excluding the relevant persons            1 310 000 000
 as defined in the circular to shareholders dated 29 July 2019)

 Number of ordinary shares represented and voting at the meeting (excluding the relevant persons as                864 806 748
 defined in the circular to shareholders dated 29 July 2019)

 Percentage of ordinary shares represented and voting at the meeting as a % of voteable shares                             66%


 Resolution proposed                                                                For          Against              Abstain*

 Special resolution number 1:                                              844 273 983        19 227 553             1 305 212
 Approval and authorisation of the Transaction - the repurchase                 97.77%             2.23%                 0.08%
 of 245 million CAPPREC shares from the relevant persons,
 pursuant to the share repurchase agreements.

 Special resolution number 2: Revocation of Special Resolution             844 273 133        19 227 553             1 306 062
 Number 1 if the CAPPREC repurchase is terminated for any                       97.77%             2.23%                 0.08%
 lawful reason

* Abstentions are represented as a percentage of total issued ordinary shares.


By order of the Board
Johannesburg
28 August 2019

Sponsor:
lnvestec Bank Limited

Date: 28/08/2019 10:00:00
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