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Circular to Shareholders
10 January 2012
CIRCULAR TO SHAREHOLDERS

regarding:

Vunani Limited - Proposed conversion and consolidation of the share capital
10 January 2012
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Vunani Limited - Erroneous Posting of Vunani Property Investment Fund Circular
03 January 2012
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Vunani Limited is a diversified financial services company that operates through two divisions: Financial Services and Investment Services.

Vunani Structure

The group was formed through a management buyout from African Harvest in 2004, and was listed on the JSE’s AltX exchange in 2007. See group history for more information.

Through a series of acquisitions, Vunani has built a strong diversified financial services platform from which to grow its business. The company’s goal is to become South Africa’s pre-eminent financial services provider, differentiated by the following key elements:

Comprehensive Financial Services Provider Empowerment Partner with Investment Services Arm
Strong Growth Track Record Experienced Management Team
Financial Services Fund Management Investment Banking Property Investment Services