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207

BLUE LABEL

INTEGRATED ANNUAL REPORT 2017

3. CERTIFICATED SHAREHOLDERS

Notwithstanding the conversion of authorised ordinary of R0.000001 into authorised ordinary shares of no par value,

certificated shareholders are not required to return their share certificates to BLT and may retain such share certificates

which will evidence their title to the no par value shares held by them resulting from the conversion, notwithstanding that

such share certificates make reference to shares having a par value. Certificated shareholders are however, reminded that

they will not be able to trade such no par value shares on the JSE until these shares have been dematerialised, which may

take between 1 (one) and 10 (ten) days, depending on the volumes being processed by Strate at the time.

4. GENERAL

In terms of Regulation 31(8)(b) of the Regulations, a copy of this report will be filed at the Companies and Intellectual

Property Commission and at the South African Revenue Services at the same time as this report is published to the

shareholders of the Company.

By order of the Board of Directors of Blue Label Telecoms Limited

23 November 2017