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BLU
Disposal by Blue Label of its interests in VAS Operations and 3G handset distribution

Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/022679/06)
Share code: BLU
ISIN: ZAE000109088
(Blue Label or the Company)


DISPOSAL BY BLUE LABEL OF ITS INTERESTS IN VAS OPERATIONS AND 3G HANDSET DISTRIBUTION


Shareholders are referred to the SENS announcements of 25 September 2019 and 16 October 2019 relating to the disposal
of Blue Labels shareholding in Blue Label Mobile Group Proprietary Limited (Blue Label Mobile or the VAS Operations)
and the sale of The Prepaid Company Proprietary Limiteds interests in the 3G Mobile Proprietary Limited (3G Mobile)
handset trading operations. The above transactions were approved by Blue Label shareholders on 4 December 2019.

By way of an update, Blue Label shareholders are informed that all suspensive conditions relating to the disposal of
3G Mobiles handset trading operations have been fulfilled and the purchase price of R544 million will be received
today, 14 February 2020.

In relation to the disposal of Blue Labels VAS Operations, certain conditions precedent remain outstanding, the completion
of which is at an advanced stage. Upon fulfilment thereof, R350 million of the selling price of R450 million as well as all monies
paid by Blue Label Mobile towards the acquisition of Hyve Mobile Proprietary Limited and Mobile Content Africa Limited
amounting to approximately R81 million will be received. The remaining R100 million plus interest thereon will be deferred in
terms of the conditions contained in the circular to shareholders published on 6 November 2019.


Sandton


14 February 2020


Financial Advisor and Sponsor
Investec Bank Limited


Legal Adviser to Blue Label
Werksmans Inc


Legal Advisor to DNI
CDH

Date: 14-02-2020 03:07:00
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.

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