REVIEWED CONDENSED CONSOLIDATED RESULTS FOR THE YEAR ENDED 30 JUNE 2014

1100

POYNTING HOLDINGS LIMITED

Incorporated in the Republic of South Africa(Registration number 1997/011142/06)Share code: POY ISIN: ZAE000121299

(“Poynting” or “the Company” or “the Group”)

GROUP COMMENTARY

Headlines

· Revenue increased by 47% to R132m· Cashflowsfromoperatingactivitiesup23%toR7.9m· NAV/shareup63%to84.2cps· TangibleNAV/shareup3%to38.1cps· Exportrevenueup71%overlastyear,with57%ofgrouprevenueearnednowoutsideofSouth

Africa.· Defence&Specialisedincreasedprofitaftertaxby74%fromR9.1mtoR15.8m· Commercial&CCSdisappointedrecordingacombinedlossofR8.6m· AfricanUnionCommunicationsProprietaryLimited(“Aucom”)fullyearprofitofR13.8misabove

profitwarrantytargetofR11.0m.· ReportedEBITDAdeclined fromR14.6m in2013 toR3.6m in2014,butadjustedEBITDA(refer

below)ofR38.2mreflectsgroupgrowth· The financial statements are significantly distorted by the requirements of IFRS arising from

theAucomacquisition.Thisresultscommentaryshouldbereadwithcaretounderstandtheunderlyingcompanyperformance.

INTRODUCTION AND COMPANY OVERVIEW

Our business is focussed on four technology segments. We also report separately on our newbusinessdevelopment“SkunkWorks”unit.

Defence & specialised an-tennas (“DS”)

Commercial cellular end user antennas (“Com-mercial”)

Cellular Cover-age Solutions (“CCS”)

Digital Television (“DTV”)

New Product Development (“SkunkWorks”)*

Companies/brands and divi-sions included in this segment

Poynting De-fence and Spe-cialised Division including Radiant Antennas

Poynting Com-mercial Division and Poynting Direct

Poynting CCS division (and RNS once successfully concluded)

Aucom Variousnewconcepts in development or proof of concept stage

Markets Defence system integrators, homeland se-curity, spectrum monitoring

Cellular end users, machine to machine (“M2M”) inte-grators

Cellular opera-tors and cellular infrastructure providers

TV and Radio Broadcasters

Potentially productswithinexisting segments (VeriPoynt, AirPoynt) but can also exploit newmarketse.g.Household TV consumers (Di-giAnt/SunPoynt)

Majorregions Europe, MEA, USA

RSA, Europe and Australia

RSA and Africa RSA and Africa Initial interest from RSA and SADC countries

Products/ser-vices

Specialised broadbandjam-ming, monitoring and communi-cation antennas

3G/LTE/Wi-ficonsumer an-tennas and M2M antennas

Micro base sta-tion products

Design, supply and integration of DTV distribu-tion, Multiscreen and Over The Top (OTT) systems

Developnewproducts and IP for existing divisionsandnewgrowthareas

Business model Design, man-ufacture and sales of antenna products highly customised for clients

Design, man-ufacture and sales of antenna products

Design, manu-facture and sales to integrators and cellular operators

Design system, sourceequip-ment and imple-ment/integrate for customers

Developnewproducts and register IP, initial manu-facture, market testing and early adoptersales.IPlicensing

2014 annual turnover

R’m

76.6

R’m

32.4

R’m

3.8

R’mFullyear

103.8

R’m

0.1

PAT 201415.8 (4.6) (4.0)

Fullyear13.8 (3.0)

Registered Intellectual Property

Theintellectualpropertyportfoliogrewfrom42to60registereddesigns,trademarksandpatents.

Opportunities Penetrate US defence market, further expand into military communication market, increase number of system integrator customers

Capitalize on explosivegrowthin LTE/4G rollouts/usage; Sign up distributors for much larger penetration of international markets

Address dramat-ic increase in demand for small cellular base stations (number of base stations expected to in-crease by factor of 10 over the next5years)

Assist broadcast-erswithmigrationto digital TV and radio across Africa.

Target large ex-pected increase in private con-tent providers, pay TV compa-nies and private broadcasters.

License DigiAnt production inter-nationally.Provide solar TVs to consumers withoutaccesstoelectricity.Supply DigiAnt TV antennawithde-mand driven by digital migration inAfrica.

The designation “skunkworks”, is widely used in business, engineering, and technical fields to describe a group within an organization given a high degree of autonomy and unhampered by bureaucracy, tasked with working on special projects.

Defence & specialised antennas (“DS”)

Commercial cellular end user antennas (“Commer-cial”)

Cellular Cov-erage Solu-tions (“CCS”)

Digital Televi-sion (“DTV”)

New Product Development (“Skunk-Works”)*

32

RESULTS OVERVIEW

ThefinancialresultsthisyearhaveanumberofIFRSreportingrequirementsandonceofftransactioncostswhichpresentaveryconfusingandunrealisticpicturetoinvestors.

The single biggest distortion of the results is the complex accounting treatment of the African Union CommunicationsProprietaryLimited(“Aucom”)acquisition:

· On28February2014theshareholdersapprovedtheissueof66msharesinPoyntingHoldingsat75cpersharefortheacquisitionofAucom,whichamountedtoapurchaseconsiderationofR49.5m,asvaluedat1July2013.

· ThesellersofAucomsharesagreedtoathreeyearprofitwarranty.Iftheydonotmeettheprofittarget,the66mshareswilladjustdownwards,toaminimum16.5mPoyntingHoldingsshares.

· In terms of IFRS3 the transaction has to be accounted for as both equity (the minimum16.5mPoyntingHoldingssharespayable)andaliability(the49.5mPoyntingShareswecouldpotentiallyclawbackfromthesellerstogetherwiththepossibleoutperformancepayment)

• TheAucomacquisitionwas contractually concluded in early July 2013at apurchaseconsiderationof66mshareswithamarketvalueof75cat that time. IFRS3mandatedaneffectivedateof28February2014bywhichtimethePoyntingsharepriceincreasedto271c.IFRS3requirestheassettobevaluedatthissharepriceresultinginanunrealisticvalue of R178.9 m. The year-end valuation of Aucomamounted to R82m (comparedtoR49.5mat thetimeofconcludingthetransaction)andan impairmentofR95mwasrequired.Theimpairmentreflectsasanexpenseandreducesprofitbythisamount.

• The49.5mshareswhichareheldbackinsupportoftheprofitwarrantywasrecognisedasa“liability”ofR134.1meventhoughthesharestosettlethatliabilityarealreadyissued.Theincreaseinsharepricefrom271cto290cbetweenMarchandJune2014generateda furtherR9.4m increase in the liabilitywhich is recognisedasa“loss”. This liabilitywillcontinuetobevaluedthroughtheincomestatementinlinewiththemovementofthesharepriceuntilallprofitwarrantiesaremet.Shareholdersareadvisedtoexpectfurthervolatilityinearningsforthenexttwofinancialyearsasanyincreaseinthesharepricewillresultinaccountinglossesbeingrecognised.

· ThegroupincurredtransactioncoststotallingR3.4minrespectoftheAucomacquisition(andthe issue of the Preference Shares) which under IFRS had to be expensed, although bothexpensesare“onceoff”andwillbeofenduringbenefittoshareholders.

· Insummary:Poyntingmadeanacquisition,onfavourablecommercialterms,whichisalreadyshowinggoodperformance.This ishowevernotreflectedintheIFRSfinancialstatementsasthe 287% increase in the Poynting share price resulted in unrealistic accounting losses and a balancesheetwhichdoesnotaccuratelyreflectthefinancialpositionofthegroup.

InanattempttoprovideamorerealisticreflectionofGroupperformance,thetablebelowprovidesan “Adjusted EBITDA” and “Adjusted PAT”. The adjusted figures were calculated by excludingthedistortions referredtoaboveaswellasconsolidatingAucomresults for12months insteadofthe 4months as requiredby IFRS. Theadjusted “realistic” results demonstrates that, despite thedisappointing results from Commercial and CCS, the Group is much better positioned than in the pastandprovidesagoodbaseforgrowthgoingforward.

Turnover 2013(Rm)

Turnover 2014(Rm)

EBIDTA 2013(Rm)

EBIDTA 2014(Rm)

Adjusted* EBITDA

2014 (Rm)

PAT2013(Rm)

PAT2014(Rm)

Adjusted*PAT

2014(Rm)

Defence 47.3 76.6 13.3 23.2 23.2 9.1 15.8 15.8Commercial 36.1 32.4 3.7 (2.7) (2.7) 0.3 (4.6) (4.6)CCS 6.3 3.8 (2.4) (5.3) (5.3) (2.2) (4.0) (4.0)Skunkworks - 0.1 (0.1) (3.6) (3.6) (0.2) (3.1) (3.1)DTV (Note 1) - 19.2 - (8.0) 13.8 - (111.3) 13.8FairvalueadjustmentofAucomcontingentconsiderationshares (Note 2)

9.4 -

Acquisitioncostsandshareissueexpenses(Note3) 3.4 3.4TOTAL 89.7 132.1 14.5 3.6 38.2 6.9 (107.2) 21.3

*TheadjustedEBITDAandPATshownormalisedresultstoprovidearealisticcomparisonto2013.Thefollowingadjustmentsweremade:Note1:Aucom results consolidated for 12months instead of 4months as required by IFRS. The

audited12monthEBITDAforAucomwasR18.5mandfullyearPATwasR13.8m.Note2:AddbackfairvalueadjustmentofR9.4mduetoincreaseinsharepricebetween1March

2014and30June2014Note3:AddbackofonceofftransactioncostsofR3.4minrespectoftheAucomtransactionand

theissueofPreferenceShares.

POYNTING  HOLDINGS     Final  Results  for  the  year  ended  30  June  2014   Page  3  of  6  

Skunkworks - 0.1 (0.1) (3.6) (3.6) (0.3) (3.1) (3.1) DTV (Note 1) - 19.2 - (8.0) 13.8 - (111.3) 13.8 Fair value adjustment of Aucom contingent consideration shares (Note 2)

9.4 -

Acquisition costs and share issue expenses (Note 3)

3.4 3.4

TOTAL 89.7 132.1 14.6 3.5 38.2 6.9 (107.2) 21.3 * The adjusted EBITDA and PAT shows normalised results to provide a realistic comparison to 2013. The following adjustments were made: Note 1: Aucom results consolidated for 12 months instead of 4 months as required by IFRS. The audited 12 month EBITDA for Aucom was R18.5m and full year PAT was R13.7m. Note 2: Add back fair value adjustment of R9.4m due to increase in share price between 1 March 2014 and 30 June 2014 Note 3: Add back of once off transaction costs of R3.4m in respect of the Aucom transaction and the issue of Preference Shares.

R' m 2009 2010 2011 2012 2013 2014

EBITDA (4.3) 10.3 12.3 14.8 14.6 3.5

Adjusted EBITDA - - - - - 38.2 Adjusted balance sheet indicators are also provided to give a better reflection of company financial position:

Balance sheet 2013 (restated)

Rm

2014 (actual) Rm

2014 (adjusted)* Rm

Equity 48.6 12.3 146.5 TNAV 34.6 (67.8) 66.3

* the adjusted figures exclude the acquisition reserve of R134.2m

The growth in adjusted equity reflects the issue of shares to PSG Private Equity for cash and to the sellers of Aucom. The increase in adjusted tangible net assets is largely due to the acquisition of Aucom into the group which added R22.2m of assets.

 (10,0)    (5,0)  

 -­‐          5,0    

 10,0      15,0      20,0      25,0      30,0      35,0      40,0      45,0    

2009   2010   2011   2012   2013   2014  

R'  m

   

EBITDA   Adjusted  EBITDA  

54

R’ m 2009 2010 2011 2012 2013 2014

EBITDA (4.3) 10.3 12.3 14.8 14.6 3.5

AdjustedEBITDA - - - - - 38.2

Adjusted balance sheet indicators are also provided to give a better reflection of companyfinancialposition:

Balance sheet 2013 (restated)Rm

2014 (actual)Rm

2014 (adjusted)*Rm

Equity 48.6 12.3 146.5

TNAV 34.6 (67.8) 66.3

*theadjustedfiguresexcludetheacquisitionreserveofR134.2m

ThegrowthinadjustedequityreflectstheissueofsharestoPSGPrivateEquityforcashandtothesellersofAucom.The increase inadjustedtangiblenetassets is largelydueto theacquisitionofAucomintothegroupwhichaddedR22.2mofassets.

2009 2010 2011 2012 2013 2014

Tangible NAV per ord share (cents) 14 18 25 33 37 38

NAV per ord share (cents) 30 33 36 44 52 84

Commercial and CCS cost shareholders money but cash generation remained strong at DS and DTV resultingintheoverallgroupreportinghighercashgeneratedbyoperationsofR7.9mcomparedtoR6.4mlastyear.Previous year restatement

Poynting Antennas had previously performed product development work for Aucom before apossibletransactiontoacquireAucomwasconsidered.Sincethisproductfallsintotheconsumermarket, Aucom felt it could be better exploited by Poynting Commercial division and transferred theexistingIntellectualPropertyontheSunPoyntTVtoPoyntinginexchangeforsharingprofitsfromfuturesalesoftheproduct.Poyntingpreviouslyaccountedforthisworkasincome-areimbursementofproductdevelopmentexpenditure-butfollowingtheacquisitionofAucomittranspiredthatthishadnotbeenaccountedforcorrectlywhichrequiredrestatementoftheaccounts.

BUSINESS OVERVIEW

DespitetheimprovedfinancialpositionandperformanceasillustratedwhenrecalculatingadjustedPATandadjustedEBITDA,westillconsiderthattheoverallGroupprofitabilityforthe2014financialyearshouldhavebeenbetter-thelossesintheCommercialandCCSdivisionswasdisappointing.

Defence & Specialised

TheDefenceDivisiondeliveredexceptionalgrowthwithprofitafter tax increasingby74%onthepriorperiod. Thiswas somewhatassistedby theweakness in theRand,due to thehigh ratioofexportorderswhicharedenominatedincurrenciesotherthantheZAR,whilstmaintaininganalmostexclusivelySouthAfricancostbase.Thedivisioncontinuedtogrowcredibilityinitsvariousmarkets,whichresultsinlessdependenceonindividualcustomers.

DShistoric5yearperformanceissummarisedbelow:

R’m 2009 2010 2011 2012 2013 2014

Revenue 17.5 30.5 37.1 34.7 47.3 76.7

Profitaftertax 3.0 7.2 8.5 5.7 9.1 15.8

POYNTING  HOLDINGS     Final  Results  for  the  year  ended  30  June  2014   Page  4  of  6  

 2009   2010   2011   2012   2013   2014  

Tangible  NAV  per  ord  share  (cents)   14   18   25   33   37   38  NAV  per  ord  share  (cents)   30   33   36   44   37   84  

Commercial and CCS cost shareholders money but cash generation remained strong at DS and DTV resulting in the overall group reporting higher cash generated by operations of R7.9m compared to R6.4m last year.

Previous year restatement

Poynting Antennas had previously performed product development work for Aucom before a possible transaction to acquire Aucom was considered. Since this product falls into the consumer market, Aucom felt it could be better exploited by Poynting Commercial division and transferred the existing Intellectual Property on the SunPoynt TV to Poynting in exchange for sharing profits from future sales of the product. Poynting previously accounted for this work as income - a reimbursement of product development expenditure - but following the acquisition of Aucom it transpired that this had not been accounted for correctly which required restatement of the accounts..

BUSINESS OVERVIEW Despite the improved financial position and performance as illustrated when recalculating adjusted PAT and adjusted EBITDA, we still consider the overall Group profitability for the 2014 financial should have been better - the losses in the Commercial and CCS divisions was disappointing.

Defence & Specialised

The Defence Division delivered exceptional growth with profit after tax increasing by 74% on the prior period. This was somewhat assisted by the weakness in the Rand, due to the high ratio of export orders which are denominated in currencies other than the ZAR, whilst maintaining an almost exclusively South African cost base. The division continued to grow credibility in its various markets, which results in less dependence on individual customers.

DS historic 5 year performance is summarised below:

0  

20  

40  

60  

80  

100  

120  

140  

2009   2010   2011   2012   2013   2014  

cents  p

er  ord  sh

are  

Tangible  NAV  per  ord  share  (cents)   NAV  per  ord  share  (cents)  

POYNTING  HOLDINGS     Final  Results  for  the  year  ended  30  June  2014   Page  5  of  6  

I  

R'm 2009 2010 2011 2012 2013 2014

Revenue 17.5 30.5 37.1 34.7 47.3 76.7 Profit after tax 3.0 7.2 8.5 5.7 9.1 15.8

DTV

DTV performance was better than expected with Aucom reporting a R13.7m full year profit which was 24% above the profit target level of R11m for the year. Although the accounting treatment did not allow inclusion of the full 12 months in Group results we are nonetheless satisfied with the performance of this acquisition and market conditions for DTV infrastructure rollout in Africa remain robust. Aucom has strengthened its management team in areas of finance and operations which should ensure that their Chief Executive Officer and his experienced sales team can spend more time on new business development.

CCS

CCS is a start-up division in its own right. Now in its 3rd year, we can see that there is increased interest for the Subterranean (“SubT”) base station which was a product ahead of its time, with the major cellular operators expressing interest only recently. The group continued its investment in product development to ensure relevance to the market, which resulted in a loss of R4.0m for the year. Poynting had its first minor success with SubT trials with Vodacom. The City of Johannesburg awarded a tender to several companies to rent and use Johannesburg street light poles as mini base stations. Operators such as Vodacom, MTN, CellC and others are planning to make use of this opportunity to deploy in excess of 1000 mini base stations to improve customer experience for Johannesburg cell phone users.

Corrective actions to improve CCS profitability:

• CCS expenses and resources are strictly monitored to ensure economic use. Further development will be limited and product completion will be based on confirmed orders.

• Ongoing discussions with big role players in the industry are underway and currently undergoing trials.

Commercial

The Commercial division restructured its South African sales channel, with a split of Direct-to-Reseller and Direct-to-Consumer activities. The move of commercial product production from South Africa to China also absorbed management time, resulted in increased operational costs and stock write offs. Revenue declined by 10% mostly due to reduced sales to Europe.

The group has undertaken the following actions to improve Commercial profitability:

• A renewed focus on driving revenue, and developing focussed sales channels.

• Addressing sales declines in the European market

 -­‐    

 20  000  000    

 40  000  000    

 60  000  000    

 80  000  000    

 100  000  000    

2009   2010   2011   2012   2013  Restated  

2014  

Defence  &  Specialised  

Revenue   Profit  aWer  tax  

76

DTV

DTVperformancewasbetterthanexpectedwithAucomreportingaR13.8mfullyearprofitwhichwas24%above theprofit target levelofR11mfor theyear.Although theaccounting treatmentdidnotallowinclusionofthefull12months inGroupresultswearenonethelesssatisfiedwiththeperformanceofthisacquisitionandmarketconditionsforDTVinfrastructurerolloutinAfricaremainrobust.AucomhasstrengtheneditsmanagementteaminareasoffinanceandoperationswhichshouldensurethattheirChiefExecutiveOfficerandhisexperiencedsalesteamcanspendmoretimeonnewbusinessdevelopment.CCS

CCS isa start-updivision in itsown right.Now in its3rdyear,wecansee that there is increasedinterest for the Subterranean (“SubT”)base stationwhichwasaproductaheadof its time,withthemajorcellularoperatorsexpressinginterestonlyrecently.Thegroupcontinueditsinvestmentinproductdevelopmenttoensurerelevancetothemarket,whichresultedinalossofR4.0mfortheyear.PoyntinghaditsfirstminorsuccesswithSubTtrialswithVodacom.TheCityofJohannesburgawardedatendertoseveralcompaniesto rentanduseJohannesburgstreet lightpolesasminibasestations.Operators suchasVodacom,MTN,CellCandothersareplanningtomakeuseofthis opportunity to deploy in excess of 1000 mini base stations to improve customer experience for Johannesburgcellphoneusers.

CorrectiveactionstoimproveCCSprofitability:

· CCS expenses and resources are strictly monitored to ensure economic use. Furtherdevelopmentwillbelimitedandproductcompletionwillbebasedonconfirmedorders.

· Ongoingdiscussionswithbigroleplayersintheindustryareunderwayandcurrentlyundergoingtrials.

Commercial

TheCommercialdivisionrestructureditsSouthAfricansaleschannel,withasplitofDirect-to-ResellerandDirect-to-Consumeractivities.ThemoveofcommercialproductproductionfromSouthAfricatoChinaalsoabsorbedmanagementtime,resultedinincreasedoperationalcostsandstockwriteoffs.Revenuedeclinedby10%mostlyduetoreducedsalestoEurope.

ThegrouphasundertakenthefollowingactionstoimproveCommercialprofitability:

· Arenewedfocusondrivingrevenue,anddevelopingfocussedsaleschannels.

· Addressing sales declines in the European market

· Focusonsupplying4G/LTEproductswhicharewelldifferentiatedandIPprotected.

PROSPECTS

The Group profit potential is indicated by considering the historical annual profitability of thedifferentsegments.

Commercial and CCS performance this year was disappointing and getting these divisions tobreakevenandbacktoprofitabilityisapriorityfortheyearahead.

Weanticipatefurthergrowthinourprofitablesegmentsandconsiderablereductioninlossesinthelossmakingsegments.

- DS started the 2015 yearwith 50% higher order book than 2014which suggests continuedrevenuegrowth.

- Aucom should benefit from the potentially large African DTV rollout projects and verticalexpansionofproductoffering.

- Commercialwillcapitaliseon4G/LTErolloutbythenetworkoperatorsincreasingdemandforourproducts.

- TheJohannesburgLightPoleinitiativemayallowCCStogaintraction,andthecostbasehasbeensignificantlyreduced

- SkunkworkshavenovelandIntellectualPropertyrichproductsandtheDTVproductrangehasbroadconsumermarketappeal.TheproductdevelopmentactivitiescurrentlyinSkunkWorkshavesomeproductsreachingmaturitywhichwillhopefullyexploitrealmarketdemand.

TheRNSacquisitionisnearingcompletionandourcurrentassessmentisthattheyarecapableofachievingtheirprofittargets.RNSfitsthegroupwellwithgoodsynergiesinanumberofsegmentsandpossibleprojectandcrosssellingopportunities.

We maintain an acquisition pipeline and we are engaging with several targets locally andinternationally.ThefocuswillbetosecureaEuropeanorUSAfootprinttosupporttheDSproductrangeanddistributionpotential, tocontinue togrowEuropeancustomerbase forCommercial,andfurtheridentifyingcompanieswhichfitourmarketprofileandprovidesynergiestotheGroup.

98

CONDENSED CONSOLIDATED STATEMENT

OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2014

Reviewed Restated 30-Jun-14 30-Jun-13 * R’000 R’000

Revenue 132,126 89,743 Cost of sales (61,989) (30,010)

Grossprofit 70,137 59,733Operatingexpenses (77,072) (52,926)

TradingOperating(loss)/profit (6,935) 6,807Investment income 1,014 488 Fairvalueadjustments (9,404) -Impairmentofgoodwill (95,046) -Financecosts (162) (58)

(Loss)/profitbeforetaxation (110,533) 7,237Taxation 3,375 (277)

(Loss)/profitfortheyear (107,158) 6,960Other comprehensive income - -

Totalcomprehensiveincome (107,158) 6,960

* Prior year restated - refer Note 4

NOTE 1 - Reconciliation of (Loss) / Profit for the Year to Headline Earnings

(Loss)/profitfortheyear (107,158) 6,960Impairmentofgoodwill 95,046 -

Headline (loss) / earnings attributable to ordinary shareholders (12,112) 6,960

Weightedaveragenumberofordinarysharesinissue 105,484,979 93,921,053Weightedaveragenumberofdilutedordinarysharesinissue 113,742,087 94,711,843Basicearningsperordinaryshare(cents) (101.59) 7.41Dilutedearningsperordinaryshare(cents) (85.94) 7.35Headlineearningsperordinaryshare(cents) (11.48) 7.41Dilutedheadlineearningsperordinaryshare(cents) (2.38) 7.35

NOTE 2 - Reconciliation of Adjusted Headline Earnings

Headline (loss) / earnings attributable to ordinary shareholders (12,112) 6,960 Fairvalueadjustmentofcontingentconsiderationshares 9,405 -Acquisitioncostsaftertax 3,424 -

Adjusted Headline earnings attributable to ordinary shareholders 718 6,960

AdjustedHeadlineearningsiscalculatedbymodifyingheadlineearningsforthefairvalueadjustmentofthecontingentconsiderationsharesandacquisitioncostsaftertax.AdjustedHeadlineearningsperordinaryshare(cents) 0.68 7.41AdjustedHeadlineearningspershareiscalculatedbydividingadjustedheadlineearningsbytheweightedaveragenumberofordinarysharesinissue.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(Accumulated Share based loss)/ Share Share payment Acquisition Retained Preference Total capital premium reserve reserve earnings shares R’000 R’000 R’000 R’000 R’000 R’000 R’000

Balance at 01July2012 4 24,375 150 - 14,515 - 39,044

Profitfortheyear as previously reported 9,840 9,840 Prior year error (2,880) (2,880)

Profitfortheyear as restated 6,960 6,960 Issue of shares 1 2,639 - - - - 2,640 Share options forfeited / exercised - - (27) - - - (27)

Balance at 01July2013restated 5 27,014 123 - 21,475 - 48,617

Profitfortheyear (107,158) (107,158)Issue of shares forcash 1 25,279 - - - - 25,280Issue of shares - businesscombination 3 178,857 - (134,145) - - 44,715Issue of preference shares (Note 3) - - - - - 889 889

Balance at 30June2014- reviewed 9 231,150 123 (134,145) (85,683) 889 12,343

Note3-Issueof20.4mpreferencesharesatR2.50,valuedatR51million,ofwhichR0.9millionisclassifiedasequity

1110

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2014

Reviewed Restated 30-Jun-14 30-Jun-13 * R’000 R’000

AssetsNon-Current AssetsPlantandequipment 6,778 4,976Goodwill 55,457 2,207Intangible assets 24,707 11,767 Investmentinjointventure 2,964 -Deferred tax 280 - 90,186 18,950Current AssetsInventories 23,641 12,427 Otherfinancialassets 5,630 171Current tax receivable 3,191 413 Trade and other receivables 30,994 18,141 Cashandcashequivalents 85,871 14,402 149,327 45,554Total Assets 239,513 64,504

Equity and LiabilitiesEquityEquityattributabletoownersoftheparentSharecapital&sharepremium 231,159 27,019Preferenceshareequity 889 -Share-based payment reserve 123 123 Acquisitionreserve(contingentconsideration) (134,145) -(Accumulatedloss)/Retainedincome (85,683) 21,475 12,343 48,617 LiabilitiesNon-Current LiabilitiesLoansandborrowings 114 -Preferenceshareliability 50,111 300Liabilityforcontigentconsideration 143,550 -Otherfinancialliabilities - 4,000Deferredtax 1,957 900 195,732 5,200Current LiabilitiesBankoverdraft 50 817Loansandborrowings 1,908 245Financeleaseobligation - 39Trade and other payables 27,168 8,969 Current tax payable 9 - Provisions 2,303 617 31,438 10,687 Total Liabilities 227,170 15,887Total Equity and Liabilities 239,513 64,504

* Prior year restated - refer Note 4Numberofordinaryshareslegallyinissueless2516555treasuryshares 174,087,719 93,921,053Netassetvalueperordinaryshare(cents) 84.15 51.76Nettangibleassetvalueperordinaryshare(cents) 38.10 36.88

Netassetvalueiscalculatedbydividingequitylesstheacquisitionreserve,bythenumberofordinary shares in issue, being number of shares in issue less treasury sharesNettangibleassetvalueiscalculatedbydividingequitylessacquisitionreservelessgoodwill&intangible assets, by the number of ordinary shares in issue, being number of shares in issue less treasuryshares.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30 JUNE 2014

Reviewed Audited 30-Jun-14 30-Jun-13 R’000 R’000

Cashflowsfromoperatingactivities 7,922 6,451Cashflowsusedininvestingactivities (16,354) (14,321)Cashflowsfromfinancingactivities 75,804 2,823

Totalcashandcashequivalentsmovementfortheyear 67,372 (5,047)Cashacquiredaspartofbusinesscombination 6,626 -Cashandcashequivalentsatthebeginningoftheyear 13,585 17,398Effectofexchangeratemovementoncashbalances (1,762) 1,235

Totalcashandcashequivalentsatendoftheyear 85,821 13,585

NOTE 4 - Prior year error

During 2013, Poynting Antennas Proprietary Limited received R4 million from African Union CommunicationsProprietaryLimited(“Aucom”)relatingtothedevelopmentofanewproduct.Inreturn,Aucomsecuredtherightstocommissionsforeachproductsold.TheR4millionwasincorrectlyrecognisedasrevenuefortheyearended30June2013.Thefairvalue(plusanydirectlyattributabletransactioncosts)shouldhavebeenrecognisedasafinancialliability,asthereisacontractualobligationtoAucomwhichisdependentontheoccurrenceoffuturesalesoftheproduct.

The transaction is eliminated as a pre-existing relationship on consolidation of Aucom in the current financialperiod.

1312

Thecorrectionoftheerrorresultsinthefollowingadjustments: Restated year ended 30-Jun-13 R’000

RevenueRevenue as previously reported 93,743 Prior year error (4,000)

Revenue as restated 89,743

Profit or LossProfitafterTaxaspreviouslyreported 9,840Prior year error (4,000)Deferred tax thereon 1,120

ProfitafterTaxasrestated 6,960

Retained earnings -Retainedearningsaspreviouslyreported 24,355Prior year error (2,880)

Retainedearningsasrestated 21,475

Statement of Financial PositionOtherFinancialLiabilitiesaspreviouslyreported -Prior year error (4,000)

OtherFinancialLiabilitiesasrestated (4,000)

Deferred Tax Liability as previously reported (2,020)Prior year error 1,120

Deferred Tax Liability as restated (900)

Nettangibleassetvalueperordinaryshare(cents)aspreviouslyreported 39.95Prioryearerror (3.07)

Nettangibleassetvalueperordinaryshare(cents)asrestated 36.88

Basicearningsperordinaryshare(cents)aspreviouslyreported 10.48Prioryearerror (3.07)

Basicearningsperordinaryshare(cents)asrestated 7.41

Dilutedearningsperordinaryshare(cents)aspreviouslyreported 10.39Prioryearerror (3.04)

Dilutedearningsperordinaryshare(cents)asrestated 7.35

Headlineearningsperordinaryshare(cents)aspreviouslyreported 10.48Prioryearerror (3.07)

Headlineearningsperordinaryshare(cents)asrestated 7.41

Dilutedheadlineearningsperordinaryshare(cents)aspreviouslyreported 10.39Prioryearerror (3.04)

Dilutedheadlineearningsperordinaryshare(cents)asrestated 7.35

SEGMENTAL ANALYSIS FOR THE YEAR ENDED 30 JUNE 2014 (REVIEWED)

R’000 Commercial CCS New Business Defence Digital TV Total

Totalrevenues 32,462 3,796 42 76,665 19,209 132,174Intersegment revenues (36) - - (12) - (48)Totalexternalrevenues 32,426 3,796 42 76,653 19,209 132,126Operating (loss) /profit(Note5) (7,466) (5,960) (4,000) 19,296 (8,805) (6,935)Investmentincome 124 38 55 405 392 1,014Fairvalueadjustments &impairmentofgoodwill (104,450) (104,450)Financecosts (96) - - (37) (29) (162)(Loss)/Profitbeforetaxation (7,438) (5,922) (3,945) 19,664 (112,892) (110,533)Taxation 2,842 1,889 894 (3,847) 1,597 3,375(Loss)/Profitfortheyear (4,596) (4,033) (3,051) 15,817 (111,295) (107,158)Note5-includesAucomacquisitioncostsofR3424693Reportable segmentsassets 36,045 13,143 25,509 71,790 93,026 239,513Reportable segmentsliabilities (19,962) (250) (17,991) (27,349) (161,618) (227,170)Operating (loss)/ profit(Note5) (7,466) (5,960) (4,000) 19,296 (8,805) (6,935)Depreciation and amortisation (Note 6) 4,734 690 367 3,931 768 10,490 EBITDA (2,732) (5,270) (3,633) 23,227 (8,037) 3,555 Note 6 - includes amortisation of Aucom intangibles of R696 722

SEGMENTAL ANALYSIS FOR THE YEAR ENDED 30 JUNE 2013 (RESTATED)

Digital TV R’000 Commercial * CCS New Business * Defence Note 7 Total

Totalrevenues 40,200 6,259 - 47,398 - 93,857Intersegmentrevenues (4,054) - - (60) - (4,114)

Totalexternalrevenues 36,146 6,259 - 47,338 - 89,743

Operating(loss)/profit (505) (2,798) (131) 10,241 - 6,807Investmentincome 33 - 3 452 - 488Financecosts (37) (1) - (20) - (58)

Profit/(Loss)beforetaxation (509) (2,799) (128) 10,673 - 7,237Taxation 827 597 (129) (1,572) - (277)

Profit/(Loss)fortheyear 318 (2,202) (257) 9,101 - 6,960Reportablesegmentsassets 23,112 8,454 2,419 30,519 - 64,504Reportable segments liabilities (7,374) (367) (872) (7,274) - (15,887)Operating(loss)/profit (505) (2,798) (131) 10,241 - 6,807Depreciation and amortisation 4,245 388 - 3,111 - 7,744EBITDA 3,740 (2,410) (131) 13,352 - 14,551

* Prior year restated - refer Note 4Note7-TheDigitalTVsegmentincludesonlyAucomwhichwasacquiredduringtheyear

1514

ACQUISITION OF SUBSIDIARY

The pro-forma results used, and on 28 February 2014 shareholders approved, the issue of 66million sharesat75cents in termsof theagreement for theacquisitionof100%ofAfricanUnionCommunicationsProprietaryLimited(“Aucom”),whichamountedtoR49500000.

Aucom,based inPretoria,was founded in2001and focusesonprovidingprofessionalproducts,systems integration and implementation and commissioning services to the broadcast and telecommunicationsmarketinAfrica.

IntermsofIFRS3(BusinessCombinations)thetransactionhadtobeaccountedforatthefairvalueofthesharesatthatdateandthenetpresentvalueofanycontingentconsideration.Thesharepriceat28February2014was271centswhichvaluedtheshareconsiderationatR178860000andunderIFRSrepresentedthefairvalue.

Sinceacquisition,revenueofR19.2millionandanaftertaxlossofR3.4millionhasbeenincludedinthegroup’sprofitandloss.Iftheacquisitionhadbeenaccountedforatthebeginningoftheyear,revenueofR103.8millionandanaftertaxprofitofR13.8millionwouldhavebeenincludedinthegroup’sprofitandloss.

Contingent Consideration

Ofthe66millionsharesissued,49.5millionsharesareheldasguarantee,andwillbereleasedtothesellersasprofitwarrantiesaremetfortheyearsending30June2014,30June2015and30June2016,orclawedbackifwarrantiesarenotmet.Thefairvalueofthisportionofthecontingentconsideration,whichisrepresentedbysharesalreadyinissue,amountedtoR134.1millionatthetransactiondate,andispresentedbyanacquisitionreserveinequity.At30June2014,thiscontingentconsiderationhadincreasedbyR9.4millionasconsequenceoftheincreaseinthePoyntingshareprice,andwasfairvaluedatR143.5million.

AnadditionalconsiderationispayableiftheAucom’scumulative3yearProfitafterTaxexceedsR38million,inwhichinstancethevendorswillreceive50%ofthatout-performance.ThefairvalueofthisadditionalcontingentconsiderationamountedtoR2063702asat28February2014andthetotalconsiderationisthereforeR180924702.

For the purposes of the contingent consideration it ismanagement’s assessment that the profittargetswillbemet.

Identifiable assets acquired and liabilities assumed 28-Feb-14

R’000

Plant&equipment 299Otherfinancialassets 6,524Inventories 8,416 Trade&otherreceivables 30,159Less : Provision for doubtful debts (2,248)Cashandcashequivalents 6,626Shareholders loans (1,913)Deferredtaxliabilities (1,151)Current tax payable (2,894)Tradeandotherpayables (21,596)

Totalidentifiablenetassetsacquired 22,222

Intangible assets on acquisition

Goodwillarisingfromtheacquisitionhasbeenrecognisedasfollows:Identifiablenetassetsasat28February2014 22,222Intangibleassets(customerrelationships) 10,451Deferred tax thereon (2,926)Goodwill–predominantlyarisingfromtheincreaseinsharepricefrom75cto271c 148,297

Total Consideration 178,044

IFRS requiresanannual reviewof the recoverableamountof the investment inAucom.ThiswasestimatedbasedonthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheCashGeneratingUnit(value inuse),usingapre-taxdiscountrateof22.1%andaterminalvaluegrowthrateof5%from2019.ThekeyassumptionswerederivedfrompastperformanceatAucom.TherecoverableamountoftheCGUwasestimatedtobelowerthanitscarryingamountandanimpairmentofR95.0millionwasrequired.Achangeof1%inthepre-taxdiscountratewillresultinaR2.5million(2.6%)changeintheimpairment.

1716

75 cps 271 cps 290 cps At issue price 28-Feb-14 30-Jun-14Consideration paid R’000 R’000 R’000

Equity-16500000ordinary sharesinPoyntingHoldingsLtd 12,375 44,715 44,715Contingentconsideration-49500000 ordinarysharesinPoyntingHoldingsLtd 37,125 134,145 143,550Contingentconsideration-profitwarranties 2,064 2,064

49,500 180,924 190,329

Settlement of pre-existing relationship (2,880) (2,880)

Total Consideration 178,044 187,449

Acquisition related costs

CostsofR3.4millionrelatingtothisacquisitionareincludedinoperatingexpensesintheconsolidatedstatement of comprehensive income

Financial instruments carried at fair value

Thefairvalueofafinancialinstrumentisthepricethatwouldbereceivedforthesaleofanassetorpaidfor thetransferofa liability inanorderly transactionbetweenmarketparticipantsat themeasurementdate.

Theexistenceofpublishedpricequotationsinanactivemarketisthebestevidenceoffairvalueand,wheretheyexist,theyareusedtomeasurethefinancialassetorfinancial liability.Amarketisconsidered tobeactive if transactionsoccurwith sufficientvolumeand frequency toprovidepricinginformationonanongoingbasis.Financialinstrumentsfairvaluedusingquotedpriceswouldgenerallybeclassifiedaslevel1intermsofthefair-valuehierarchy.

Whereaquotedpricedoesnotrepresentfairvalueatthemeasurementdateorwherethemarketforafinancialinstrumentisnotactive,thegroupestablishesfairvaluebyusingavaluationtechnique.

Valuation techniques appliedby thegroupwould result in financial instruments being classifiedaslevel2orlevel3intermsofthefair‐valuehierarchy.Thedeterminationofwhetherafinancialinstrument isclassifiedas level2or level3 isdependentonthesignificanceofobservable inputsversusunobservableinputsinrelationtothefairvalueofthefinancialinstrument.

The valuation technique applied to specific financial instruments depend on the nature of thefinancialinstrumentandthemostappropriatevaluationtechniqueisdeterminedonthatbasis.

Thecarryingvaluesofotherfinancialassets&liabilities,trade&otherreceivables&payablesandloans&borrowingsapproximatetheirfairvalue.

Fair value hierarchy

Fairvaluemeasurementsarecategorisedintodifferentlevelsinthefairvaluehierarchybasedoninputstovaluationtechniquesused.Thedifferentlevelsaredefinedasfollows:

Level1:Quotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities.

Level2:InputsotherthanquotedpricesincludedwithinLevel1thatareobservablefortheassetorliability,eitherdirectly(i.e.asprices)orindirectly(i.e.derivedfromprices).

Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Valuation of the liability for acquisition to be settled by shares already in issue

“In termsof IFRS 13.24, fair value is theprice thatwouldbe received to sell anassetorpaid totransfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurementdateundercurrentmarketconditions (ieanexitprice) regardlessofwhether thatpriceisdirectlyobservableorestimatedusinganothervaluationtechnique.“

Themarket inPoyntingsharesdoesnothavesufficient frequencyandvolumetoprovidepricinginformationonanongoingbasisinrespectofthe49.5millionsharesalreadyinissuethataredeemedunderIFRStobedeferredconsideration.

Poynting could not have entered into a transaction to place shares at a price of 334cps at close of businessinthemarketon30June2014,andmanagementthereforehavedeterminedthatunderIFRS13.78thiscouldnotbealevel1input.

Management have therefore considered a number of other indicators to determine the fair value of thedeferredconsideration shares. This included the30dayVolumeWeightedAveragePriceupto30June2014of285centspershare,atradeof12millionshareson30May2014at275centspershare,andthepricewithinthebid-askspreadthatismostrepresentativeoffairvalue,whichistobeusedtomeasurefairvalueregardlessofwheretheinputiscategorisedwithinthefairvaluehierarchy.

Managementconsideredthebidpriceavailableon30June2014byreferencetotheopeningsharepriceon1July2014(being290centspershare)andthehighesttradedpriceon1July2014(alsobeing 290 cents per share) and has valued the liability in respect of the contingent consideration sharesalreadyinissueaccordingly.

Achangeof 10% in the fair valueof investmentand liability at the reportingdatewould haveincreased/(decreased)equityandprofitorlossbytheamountshownbelow.Thisanalysisassumesthatallothervariablesremainconstant.Iftheliabilitywasvaluedatayearendclosingpriceof334centspershare,anadditionallossofR21780000wouldhavebeenrecognised.

30-Jun-14Effect on profit/(loss) and equity R’000

10%increase (14,355)10%decrease 14,355

Reviewed Audited 30-Jun-14 30-Jun-13 *Level 3 balances comprise: R’000 R’000

Balance at the beginning of the year - - Liabilityforcontingentconsideration (134,145) -Revaluationinprofitandloss (9,405) -

Balanceattheendoftheyear (143,550) -

1918

SUBSEQUENT EVENTS

ShareholdersarereferredtotheSENSannouncementdated16July2014regardingtheacquisitionofRadioNetworkSolutions(“RNS”),andthefurthercautionaryannouncementsdated27August2014and3September2014,whereshareholderswereadvisedtocontinueexercisingcautionwhendealing in the Company’s securities, until a further announcement incorporating the pro-forma effectsoftheRNSAcquisitionismade.

Management is attending to the preparation of the pro-forma results and conclusion of the sale ofsharesagreementwhichissubjecttothefinalisationoftheduediligenceandboardapproval.

STATEMENT OF COMPLIANCE

Thecondensedconsolidated financial statements for the year ended30 June 2014 havebeenpreparedinaccordancewiththerequirementsoftheJSELimitedListingsRequirementsforprovisionalreportsandtherequirementsoftheCompaniesAct2008ofSouthAfrica,(Act71of2008).TheJSEListingsRequirementsrequireprovisionalreportstobepreparedinaccordancewiththeframeworkconceptsandthemeasurementandrecognitionrequirementsofInternationalFinancialReportingStandards(IFRS)andtheSAICAFinancialReportingGuidesasissuedbytheAccountingPracticesCommitteeandFinancialPronouncementsasissuedbytheFinancialReportingStandardsCouncilandtoalso,asaminimum,containtheinformationrequiredbyIAS34–InterimFinancialReporting.

BASIS OF PREPARATION

The accounting policies applied in the preparation of the condensed consolidated financialstatementsareintermsofIFRSandareconsistentwiththoseappliedinthepreviousconsolidatedannualfinancialstatements,exceptforthestandardsandamendmentstostandardsthatbecameeffectiveforthefirsttimeinthefinancialyearcommencing1July2013andthenewaccountingpoliciesdisclosedbelow:

• IFRS10–ConsolidatedFinancialStatements;

• IFRS11–JointArrangements;

• IFRS13–FairValueMeasurement;

• IAS19(2011)–EmployeeBenefits;

• IAS28(2011)–InvestmentsinAssociatesandJointVentures;

• Amendments to IFRS 7 – Financial Instruments: Disclosures: Offsetting Financial Assets andFinancialLiabilities;

• AmendmenttoIAS32–FinancialInstrumentsPresentation:Taxeffectofdistributiontoholdersofequityinstruments;and

• IAS34–InterimFinancialReporting:Segmentinformationforsegmentassets.

The impact of adopting the above standards has had no material effect on the condensed consolidatedfinancialstatements.

New accounting policies:

Tradingoperating(loss)/profitcomprisessaleofgoods,renderingofservicesanddirectlyattributablecosts but excludes investment income, fair valueadjustments, and impairment of goodwill andfinancecosts.

The acquisition reserve is usedwhere shares are legally regarded as issued but for accountingpurposesareregardedascontingentshares(iesubjecttorecall)wheretheaccountingstandardsrequiresuchsharestobeclassifiedasaliability.

The reviewedcondensedconsolidated resultshavebeenpresentedon thehistoricalcostbasis,exceptforotherfinancialassetsandotherfinancialliabilities,whicharefairvalued.TheseresultsarepresentedinRands,roundedtothenearestthousand,whichisthefunctionalcurrencyofPoyntingand the group presentation currency. These reviewed provisional condensed consolidatedresults incorporatethefinancialstatementsof thecompany, itssubsidiariesandcompaniesthat,in substance, are controlled by the group and the group’s interest in joint ventures. Results ofsubsidiariesandjointventuresareincludedfromtheeffectivedateofacquisitionuptotheeffectivedateofdisposal.Allsignificanttransactionsandbalancesbetweengroupenterprisesareeliminatedonconsolidation.

ThesecondensedconsolidatedfinancialstatementshavebeenreviewedbytheGroup’sauditors,KPMGInc,andtheirunmodifiedreviewreportisavailableforinspectionattheCompany’sregisteredoffice.

The auditor’s report does not necessarily report on all of the information contained in this announcement.Shareholdersarethereforeadvisedthatinordertoobtainafullunderstandingofthe nature of the auditor’s engagement they should obtain a copy of the auditor’s report together withtheaccompanyingfinancialinformationfromtheissuer’sregisteredoffice.

The condensed consolidated financial statements were prepared under the supervision of theGroupFinancialDirector,JohnvonGottbergBScEng(Aero)BCom(Acc)PGDACA(SA).

DIRECTORATE

Duringtheyearunderreview,uptoandincludingthedateofthisreport,thefollowingchangestotheBoardtookplace.MrAndriesMelletwasappointedasIndependentNon-Executivedirectoron20December2013andasanExecutiveDirectoron10September2014.MrRichardWillisresignedon5March2014.MrJohanEbersohnresignedandwasreplacedbyMrJohnvonGottbergasFinancialDirectoron10September2014.

By order of the board

AndreFourie JohnvonGottbergChiefExecutiveOfficer FinancialDirector

30 September 2014Johannesburg

2120

POYNTING HOLDINGS LIMITED(incorporated in the Republic of South Africa)Registration Number 1997/011142/06Share Code: POY ISIN: ZAE000121299(“Poynting” or “the Company” or “the Group”)www.poynting.co.za

DirectorsCoenBester*^(Chairman),JürgenDresel(German),AndreFourie(ChiefExecutiveOfficer),ZukoKubukeli*^,AndriesMellet(ChiefOperatingOfficer),JohnvonGottberg(FinancialDirector)*Independent ^Non-executives

Registered office1Travertine,N1BusinessPark,Kosmosdal,Centurion,0157(POBox76579,Wendywood,2144)

Designated AdviserMerchantec Proprietary LimitedRegistration Number 2008/027362/072ndFloor,NorthBlock,HydeParkOfficeTower,Corner6thRdandJanSmutsAve,HydePark,2196(PO Box 41480, Craighall, 2024)

Company SecretaryMerchantec Proprietary Limited

Transfer SecretariesComputershare Investor Services Proprietary LimitedRegistration Number 2004/003647/07GroundFloor,70MarshallStreet,Johannesburg,2001(POBox61051,Marshalltown,2107)

Investor RelationsKeyter Rech Investor Solutions ccRegistrationNumber2008/156985/2352nd Road, Hyde Park, 2196

PRINCIPAL SUBSIDIARIESPoynting Antennas Proprietary LimitedRegistrationNumber2000/026835/07

Specialised Antennas DivisionManagingDirector:JürgenDresel1Travertine,N1BusinessPark,Kosmosdal,Centurion,0157Tel +27 (0)10 007 2020

Commercial Antennas Division & Cellular Coverage SolutionsHead (acting): Dries MelletUnit4,N1IndustrialBusinessPark,LandsmarkAvenue,Samrand,0157Tel+27(0)126570050

Projects DivisionHead:AndréFourieUnit4,N1IndustrialBusinessPark,LandsmarkAvenue,Samrand,0157Tel+27(0)126570050

African Union Communications Proprietary LimitedRegistration Number 1999/000409/07

Digital TV DivisionManagingDirector:VilliersJoubert394CliffAvenue,WaterkloofRidgeX2,PretoriaTel +27 (0)12 001 8670