MULTICHOICE GROUP LIMITED - Disclosure of significant holding of MultiChoice ordinary shares

Disclosure of significant holding of MultiChoice ordinary shares

MULTICHOICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
(“MultiChoice” or “the Company" or “the Group”)

DISCLOSURE OF SIGNIFICANT HOLDING OF MULTICHOICE ORDINARY SHARES

In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (“the Act”), regulation 121(2)(b)
of the Companies Regulations, 2011 and paragraph 3.83(b) of the JSE Limited Listings Requirements,
holders of ordinary shares in MultiChoice are advised that the Company has received formal
notification, in terms of section 122(1) of the Act, that French media company Groupe Canal+ SA
(“Groupe Canal+”) has acquired an additional interest in the ordinary shares of the Company, such that
the total interest in the ordinary shares of the Company held by Groupe Canal now amounts to 15.37%
of the Company’s total ordinary shares in issue.

As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an
open dialogue with the investment community. The Group’s policy is not to comment on its individual
shareholders nor on its interactions with them. The Company remains committed to acting in the best
interests of all shareholders and to create sustainable long-term shareholder value.

As required in terms of section 122(3)(a) of the Act, MultiChoice has filed the required notice with the
Takeover Regulation Panel. The board of directors of MultiChoice accepts responsibility for the
information contained in this announcement as it relates to the Company and confirms that, to the best
of its knowledge and belief, such information relating to the Company is true and that this announcement
does not omit anything likely to affect the importance of such information.

Randburg
23 September 2021

Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Important notice

Shareholders should take note that, pursuant to a provision of the MultiChoice Memorandum of
Incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to
South Africa (as envisaged in the MultiChoice Memorandum of Incorporation) will not exceed 20% of the
total voting power in MultiChoice. This is to ensure compliance with certain statutory requirements
applicable in South Africa. For this purpose, MultiChoice will presume in particular that:

   •   all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
       foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder; and
   •   all shareholders with an address outside of South Africa on the register of MultiChoice will be
       deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
       unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
       should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
       MultiChoice Memorandum of Incorporation.

Shareholders are referred to the provisions of the MultiChoice Memorandum of Incorporation available
at www.multichoice.com for further details. If shareholders are in any doubt as to what action to take,
they should seek advice from their broker, attorney or other professional adviser.

Date: 23-09-2021 07:05:00
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.