Shareholders are referred to the proposed rights offer announcement released on SENS on 9 December 2012 advising shareholders that Finbond would be undertaking a capital raising of approximately R20 million by way of a rights offer ("the rights offer"). In terms of the rights offer, 200 000 000 new Finbond ordinary shares of 0.0001 cents each in the authorised but unissued share capital of the company ("the rights offer shares"), will be offered for subscription to Finbond shareholders who will receive the right to subscribe for the rights offer shares on the basis of 52 rights offer shares for every 100 Finbond ordinary shares held, at a subscription price of 10 cents per rights offer share. The rights offer price represents a discount of 16.0% to the 30 trading day volume weighted average price of Finbond shares up to and including 8 December 2011. Irrevocable undertakings and underwriting Kings Reign Investments (Pty) Ltd ("KRI") and Net 1 Finance Holdings (Pty) Ltd ("Net 1") have irrevocably committed to follow their rights, through the conversion of their respective shareholders' loans into shares, in an approximate amount of R12 million. KRI and Net 1 have further committed to underwrite in full and in proportion to their existing shareholdings, the balance of the rights offer through the capitalisation of the balance of their shareholders' loans of R8 million. No underwriting fee will be applicable. Excess applications Finbond shareholders will be permitted to apply for new Finbond shares in excess of their entitlement. Should there be excess rights offer shares available for allocation, these will be allocated to applicants in a manner viewed as equitable in terms of the listing requirements of the JSE. Salient dates and times * The salient information announcement regarding the rights offer released on SENS: Friday, 9 December 2011 * Last day to trade in Finbond ordinary shares in order to participate in the rights offer (cum entitlement): Friday, 10 February * Listing of and trading in the letters of allocation ("LAs") in respect of new Finbond shares on the JSE commences at 09:00: Monday, 13 February * Finbond ordinary shares commence trading ex entitlement on the JSE at 09:00: Monday, 13 February * Record date for the rights offer: Friday, 17 February * Rights offer opens at 09:00 and the rights offer circular posted to shareholders: Monday, 20 February * Certificated shareholders will have their letters of allocation credited to an electronic account held at the transfer secretaries: Monday, 20 February * Dematerialised shareholders will have their accounts at their CSDP or broker credited with their entitlement: Monday, 20 February * Last day for trading letters of allocation on the JSE: Friday, 2 March * Listing of rights offer shares and trading therein on the JSE commences at 09:00: Monday, 5 March * Rights offer closes at 12:00. Payment to be made and form of instruction lodged by certificated shareholders at the transfer secretaries: Friday, 9 March * Record date for the letters of allocation: Friday, 9 March * Rights offer shares issued and posted to shareholders in certificated form on or about Monday, 12 March * Results of rights offer announced on SENS: Monday, 12 March Documentation A circular to Finbond shareholders, incorporating revised listing particulars and setting out full details of the rights offer, will be posted to shareholders on or about 20 February 2012. A form of instruction in respect of the LAs will be enclosed with the circular for use by Finbond shareholders who have not dematerialised their Finbond shares.