Vunani : Initial Trading Update 11 April 2017.pdf

VUNANI LIMITED

(Incorporated in the Republic of South Africa) (Registration number 1997/020641/06)

JSE code: VUN

ISIN: ZAE000163382

("Vunani" or "the company")

INITIAL TRADING UPDATE

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by 20% or more from the financial results for the previous corresponding period.

Shareholders are advised that Vunani is in the process of finalising its results for the year ended 28 February 2017 and expects that its basic earnings per share ("EPS") will increase by at least 300%, which is a minimum of 24.8 cents per share compared to 6.2 cents per share for the previous corresponding period. The headline earnings per share ("HEPS") is expected to increase by at least 150% which is a minimum of 14.5 cents per share compared to 5.8 cents per share for the previous corresponding period. Once the company has more certainty on the expected EPS and HEPS, a further trading statement will be released on SENS.

The financial information on which this trading update is based has not been reviewed or reported on by the company`s auditors.

Annual results will be released on SENS on Wednesday 26th April 2017 and shareholders are invited to dial in on the results presentation webcast on the day at 11:00am using the url http://www.corpcam.com/Vunani26042017 and conference call details as follows: Telkom 010 201 6800 or Toll Free 0800 200 648 or Neotel 011 535 3600. Or for further details contact the company's IR Adviser Jacques de Bie at Singular Systems IR on 082 691 5384

Sandton

11 April 2017

Designated Adviser Grindrod Bank Limited