Sacoven : Result of EGM and reminder regarding redemption of Ordinary Shares 23-11-2016

SACOVEN PLC

(Incorporated in Jersey under the Companies (Jersey) Law 1991 (Company number 110296)

AIM Share code: SCN JSE Share code: SCV ISIN: JE00B7YH8W36

("Sacoven" or the "Company") Result of EGM in connection with cancellation of trading on AIM and delisting from the Alt-X Reminder regarding redemption of Ordinary Shares

Sacoven shareholders ("Shareholders") are hereby advised that at the extraordinary general meeting of Shareholders held today (the "Meeting"), all of the resolutions contained in the notice of extraordinary general meeting and proposed at the Meeting (the "De-listing Resolutions"), were passed by the requisite majority of votes.

Shareholders are reminded that, as a result of the De-listing Resolutions being passed, cancellation of the Company's Ordinary Shares from trading on AIM will be effective at 7.00a.m. UK time (10.00a.m. SA time) on 2 December 2016 and trading in the Ordinary Shares on the Alt-X will be suspended at 7.00a.m. UK time (9.00a.m. SA time) on 30 November 2016 with delisting of the Ordinary Shares from the Alt-X taking place on 20 December 2016.

Important Information regarding the redemption of Ordinary Shares Shareholders are reminded that if they wish to apply to have the Company redeem their Ordinary Shares on the terms and subject to the conditions set out in the Company's circular to Shareholders dated 7 November 2016 (which is available on the Company's web site www.sacoven.com) (the "Circular"), they must do so before 1.00p.m. UK time (3.00p.m. SA time) on 5 December 2016 in accordance with the procedures set out in the Circular. Shareholders should be aware that, if they fail to apply to have the Company redeem their Ordinary Shares, they will lose the right to receive the Redemption Price and will only be entitled to receive a pro-rata entitlement to the assets that remain in the Company on winding up. Those remaining assets will be shared pro rata between Brunswood and any other Shareholders that have chosen not to have their Ordinary Shares redeemed (or have otherwise failed to submit a valid Redemption Notice or USE Instruction).

An expected timetable of principal events relating to the Delisting and the Redemption is set out below

Exchange rate to be announced	29 November 2016
Last day of dealing of Ordinary Shares on the Alt-X	29 November 2016*
Suspension of trading on the Alt-X	7.00a.m. UK time (9.00a.m. SA time) on 30 November 2016
Last day of dealing of Ordinary Shares on AIM	1 December 2016

Cancellation of admission to trading on AIM and record date for the termination of trading on the Alt-X	7.00a.m. UK time (10.00a.m. SA time) on 2 December 2016
Latest time and date for receipt of Redemption Notices, USE Instructions from CREST Shareholders and elections from CSDPs or brokers on behalf of Strate Shareholders	1.00p.m. UK time (3.00p.m. SA time) on 5 December 2016
Redemption Date	5 December 2016
Cheques despatched for certificated Ordinary Shares redeemed pursuant to the Redemption and payment through CREST for uncertificated Ordinary Shares redeemed pursuant to the Redemption	by no later than 19 December 2016
Termination of trading on the Alt-X	7.00a.m. UK time (9.00a.m. SA time) on 20 December 2016

* Shareholders should note that following this time, transfers of Ordinary Shares between the Company's register of members and the register maintained to facilitate the transfer of Ordinary Shares on the Alt-X market will no longer be possible

Each of the times and dates in the above timetable is subject to change. If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by announcement through a Regulatory Information Service.

Terms used in the announcement but not defined are as defined in the Circular.

Sacoven has a primary listing on the Alternative Investment Market of the London Stock Exchange and a secondary listing on the AltX of the Johannesburg Stock Exchange.

23 November 2016 Jersey

JSE Sponsor	AIM Nomad and Broker
KPMG Services Proprietary Limited	Liberum Capital Limited Clayton Bush & Christopher Britton Tel: [phone]

For further information please visit the Company's website www.sacoven.com

Niall McCallum + 44 (0)1534 823000