Finalisation announcement: Distribution in specie of Astoria shares

RECM and Calibre Limited

(Incorporated in the Republic of South Africa) Registration number 2009/012403/06 Preference Share Code: RACP

ISIN: ZAE000145041

("RAC" or "the Company")

FINALISATION ANNOUNCEMENT: DISTRIBUTION IN SPECIE OF ASTORIA SHARES

Shareholders are referred to the announcement released on SENS on 23 June 2022 (the "Declaration Announcement" regarding the distribution by RAC of 5 115 000 shares in Astoria Investments Ltd ("Astoria") to RAC Shareholders in the ratio of one Astoria Share for every 10 RAC participating preference shares or ordinary shares (both a "RAC Share") held at the close of trade on Friday, 15 July 2022 (the "Proposed Distribution").

Shareholders are advised that all conditions precedent to the Proposed Distribution have been fulfilled and RAC will accordingly proceed to implement Proposed Distribution in accordance with the terms set out in the Declaration Announcement. The revised salient dates and times in respect of the Proposed Distribution will be as follows:

	2022
Last day to trade in RAC Shares in order to participate in the
Proposed Distribution	Tuesday, 12 July
Date trading in RAC Shares 'ex' the entitlement to participate in the
Proposed Distribution commences	Wednesday, 13 July
Date the price for fractional entitlements announced on SENS (by
11:00)	Thursday, 14	July
Distribution record date (at close of trade)	Friday, 15	July
Date market value of Astoria Shares for purposes of the Proposed
Distribution announced on SENS	Friday, 15	July
Expected date Astoria Shares credited to the accounts of RAC
Shareholders at their CSDP or broker (at 09:00)	Monday, 18	July

Notes:

1. The above dates and times are South African dates and times.

2.	RAC Shares may not be dematerialised or rematerialised between Wednesday,
	13 July 2022 and Friday, 15 July 2022, both days inclusive.

Cape Town

30 June 2022

Corporate Advisor and Transaction Sponsor

Questco Proprietary Limited