WILSON BAYLY HOLMES-OVCON LIMITED - Withdrawal of cash dividend declaration

Withdrawal of cash dividend declaration

Wilson Bayly Holmes-Ovcon Limited
(Registration number 1982/011014/06)
(Incorporated in the Republic of South Africa)
Share code: WBO
ISIN: ZAE 000009932
("WBHO" or "the company")

WITHDRAWAL OF CASH DIVIDEND DECLARATION

Further to the interim results and cash dividend declaration released on
SENS on 2 March 2020, shareholders are hereby advised that the Board has
decided to withdraw the dividend of 80 cents per share (Dec 2018: nil cents).

The South African Government has declared a 21 day lockdown in response to
the ongoing COVID-19 situation, commencing midnight on Thursday, 26 March
2020.

The company has implemented the necessary plans to ensure the start up and
continuity of the South African operations post this period. This lockdown
will affect the South African operations. In these uncertain conditions the
protection of cash reserves is deemed necessary by the Board.

The Board will continue to monitor the impact of COVID-19 on the Company’s
operations and remains committed to consider the continuation of the
dividend history in future financial periods, once circumstances permit.

Accordingly, please note that the cash dividend with a payment date of Monday,
20 April 2020 is hereby withdrawn.

For and on behalf of the Board

EL Nel WP Neff CV Henwood
Chairman Chief Executive Officer Chief Financial Officer

Registered office
53 Andries Street
Wynberg

Sandton
25 March 2020

Sandton
Sponsor: Investec Bank Limited

Date: 25-03-2020 12:23:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.