HCI shareholders are advised that Ms B.A. Hogan has resigned as a director of HCI and member of the audit committee with immediate effect. We note the resignation of Barbara Hogan from our board and express our somewhat surprise at the hostile manner in which it is couched and publicly distributed.

We thank Barbara for her services to HCI and assure the public that, perhaps other than Marcel himself, no other board members of HCI see this matter similarly.

Cape Town
27 October 2014