MULTICHOICE GROUP LIMITED - Dealings in securities by a director of the Company

Dealings in securities by a director of the Company

MULTICHOICE GROUP LIMITED
(formerly MultiChoice Group Proprietary Limited and K2018473845 (South Africa) Proprietary Limited)
(incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice" and/or "the Company")

DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY

In compliance with the JSE Limited Listings Requirements, the following information is disclosed:

 Director                             :     Steve Pacak
 Director of                          :     the Company
 Date of transaction                  :     16 September 2019
 Nature of transaction                :     Off market acquisition of securities

                                            As a consequence of the exercise of certain Naspers N share
                                            options in one of the Naspers Limited group’s employee share
                                            incentive schemes, Mr Pacak acquired 200 000 MultiChoice
                                            Group Limited ordinary shares.
 Number and class of securities       :     200 000 MultiChoice ordinary shares
 Deemed price*                        :     R124.46
 Deemed value of transaction          :     R24 892 000.00
 Nature of interest                   :     Direct, beneficial
                                            The intention is that these shares will be transferred to Mr
                                            Pacak’s family trust resulting in an indirect, beneficial
                                            interest in future
 Clearance obtained                   :     Clearance has been received in terms of paragraph 3.66 of the
                                            JSE Listings Requirements
* Based on closing price on the day

Randburg
18 September 2019

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to South
Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the total
voting power in MultiChoice. This is to ensure compliance with certain statutory requirements applicable
to South Africa. For this purpose, MultiChoice will presume in particular that:
    - all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
      foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder; and
    - all shareholders with an address outside of South Africa on the register of MultiChoice will be
      deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
      unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
      should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
      MultiChoice memorandum of incorporation.

Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation available at
www.multichoice.com for further detail. If shareholders are in any doubt as to what action to take, they
should seek advice from their broker, attorney or other professional adviser.

Date: 18/09/2019 05:30:00
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