ANNOUNCEMENT RELATING TO THE SETTLEMENT OF CERTAIN DISPUTES

HCI Limited and various of its wholly owned subsidiaries together with Zamani, ITHUBA Holdings, the Mabuza trusts and various of their associates are pleased to announce they have reached agreement on an amount to settle all issues arising from agreements between them to their mutual satisfaction and have in consequence agreed to abandon all judgments and outstanding litigation in relation thereto and to cancel all other agreements between them in exchange for payment of R400 million.

Cape Town
7 August 2020