Acquisition Announcement

Telemedia Proprietary Limited ("the Company") is excited to announce that Rex Trueform Group Limited ("Rex") and African & Overseas Enterprises Limited ("AOE") have acquired a controlling interest in the Company.

Telemedia has a robust, locally relevant product offering that will add value to Rex and AOE's current investment portfolio, with strong positions in broadcasting, satellite, and teleport media. Peter Bretherick started Telemedia 40 years ago and has grown the Company into one of the leading and most versatile teleport facilities in South Africa. The Company services both local and international broadcasters in South Africa with its campus also being home to varied tenants, including, 4Racing, Africa XP, Media Host, LM Radio, and Cliff Central.

As part of this transaction and in line with the Company's commitment to supporting broad socio-economic imperatives and to become more locally-focused, the Company will continue to be led by Stephen Bretherick with Marcel Golding assuming the role of Chairman.

Rex Trueform Enterprises Limited and African and Overseas Enterprises Limited targets African growth with the acquisition of Telemedia

"Peter Bretherick started Telemedia 40 years ago and has grown the Company into one of the leading and most versatile teleport facilities in South Africa."

Stephen Bretherick believes that Rex and AOE's group of companies are the perfect fit for Telemedia and the transaction fulfills the Company's long-held desire to transcend from being a family-owned business to a more transformational and inclusive undertaking bringing with it additional opportunities, both locally and internationally.

The transaction represents a well-suited addition to the Rex and AOE investment approach of acquiring successful companies that bring with them market share, specialization, and untapped opportunities further noting that the future is clearly digital and Telemedia is equipped with both the infrastructure and experience to both enable and facilitate this.