GRAND PARADE INVESTMENTS LIMITED - The Proposed Restructure Of The Shareholdings In Sunwest International Proprietary Limited And Worcester Casino

The Proposed Restructure Of The Shareholdings In Sunwest International Proprietary Limited And Worcester Casino

GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
(“GPI” or “the company”)

THE PROPOSED RESTRUCTURE OF THE SHAREHOLDINGS IN SUNWEST
INTERNATIONAL PROPRIETARY LIMITED AND WORCESTER CASINO
PROPRIETARY LIMITED (the “Proposed Transaction”)

With regards to the various announcements relating to the Proposed Transaction
released since May 2014, and in particular on 29 January 2015, on the Stock Exchange
News Service of the JSE Limited by Sun International, Tsogo Sun Holdings Limited and
Grand Parade Investments Limited (“the Parties”), a key condition was that the
Proposed Transaction be implemented by 31 May 2015. The initially agreed
implementation date was subsequently extended by the Parties to 31 August 2015 (the
“Revised Implementation Date”).

It has since become apparent that the approvals required in order to conclude the
Proposed Transaction will not be achieved by the Revised Implementation Date.
Furthermore the commercial metrics of the Proposed Transaction have changed, due to
the effluxion of time, and as such the Parties decided not to extend the Revised
Implementation Date and have mutually agreed to terminate the Proposed Transaction.

Based on the above, the Parties have commenced taking steps to withdraw the
applications made to the relevant regulatory authorities that would have been required in
order to give effect to the Proposed Transaction.

3 July 2015
Cape Town

Sponsor
PSG Capital

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