Details of the results of the voting are as follows:

Transcription

1 The Bidvest Group Limited (Incorporated in Republic South Africa) (Registration number 1946/021180/06) Share code: BVT ISIN: ZAE ( Bidvest or Company or Group ) ANNOUNCEMENT RELATING TO: THE RESULTS OF THE GENERAL MEETING OF BIDVEST SHAREHOLDERS RELATING TO THE LISTING AND UNBUNDLING BY BIDVEST OF ALL ITS SHARES IN BID CORPORATION LIMITED ( BIDCORP ) TO BIDVEST SHAREHOLDERS; AND THE FINALISATION INFORMATION IN RELATION TO THE UNBUNDLING 1. Introduction Bidvest shareholders ( Shareholders ) are referred to circular to Shareholders dated April ( Circular ) which sets out details proposed listing by way introduction entire share capital BidCorp in Food Retailers and Wholesalers sector main board JSE Limited ( JSE ) ( Listing ) and proposed unbundling by Bidvest all its in BidCorp to Shareholders by way a distribution in specie ( Unbundling ). Shareholders are advised that, at general meeting Shareholders held on May ( General Meeting ), convened in terms notice General Meeting contained in Circular, resolutions to approve, inter alia, Unbundling, were passed by requisite majority Shareholders.

2 2. Results General Meeting Details results voting are as follows: Total share capital: Total number present/represented at General Meeting: * being 73.97% votable *Number (excludes treasury ) in issue at date General Meeting. Special Resolution number 1: Approval for Unbundling in terms section 112 South African Companies Act, , as amended ( Companies Act ) being 99.9% being 0.0% being 0.1% Special Resolution Number 2: Approval treatment outstanding share awards under Bidvest Incentive Scheme being % being 3.9% being 0.2%

3 Special Resolution Number 3: Approval Bidvest Group Share Appreciation Rights Plan being 93.3% being 6.0% being 0.7% Ordinary Resolution Number 1: Directors authority being 99.9% being 0.0% being 0.1% The only remaining suspensive condition in relation to Unbundling is Takeover Regulation Panel issuing a certificate compliance in respect Unbundling in terms Section 115 Companies Act. 3. Details entitlement ratio Bidvest will unbundle its in BidCorp in ratio 1 BidCorp share for every 1 Bidvest ordinary share held by a Shareholder on June ( Record Date ). 4. Salient dates and times The table below sets out remaining salient dates and times in relation to Listing and Unbundling:

4 2016 Last day to trade in Bidvest on JSE to participate in Unbundling Friday, May 27 Listing BidCorp from commencement business (JSE share code: BID and ISIN: ZAE ) Monday, May 30 Bidvest trade ex entitlement to BidCorp distribution Monday, May 30 Announcement specified ratio in respect apportionment costs/base costs BidCorp for taxation/cgt purposes released on Stock Exchange News Service JSE Tuesday, May 31 Announcement specified ratio in respect apportionment costs/base costs BidCorp for taxation/cgt purposes published in press Wednesday, June 1 BidCorp unbundled to Bidvest Shareholders Monday, June 6 Shareholder's account with Central Securities Depository Participant or broker updated Monday, June 6

5 Shares may not be dematerialised or rematerialised between Monday, May and Friday, June Johannesburg May 16, 2016 Investment bank and transaction sponsor The Standard Bank South Africa Limited Independent reporting accountants and auditors to Bidvest Deloitte & Touche Legal advisers Edward Nathan Sonnenbergs Inc Transaction tax advisers Cliffe Dekker Hmeyr Inc Reporting accountants and auditors to BidCorp KPMG Inc.