(Incorporated in Zimbabwe in 1949 under Company Registration Number 196/78/49) Directors: HBJA von Pezold (Chairman), E Hwenga (Managing

Director), RE Breschini, KRR Schofield, MS Mattinson, BD Mtetwa and E Mlambo Address:4th Floor, Tanganyika House, 23 Third Street, Harare, Zimbabwe / P.O Box 10455, Harare, Zimbabwe

NOTICE REGARDING THE DIVIDEND DECLARATION BY WAY OF A DISTRIBUTION IN SPECIE

1. BACKGROUND As announced by the Board of Radar Holdings Limited (RHL or the Company) on Monday, 26 November 2012, the Board had, subject to the requisite consents, approved a dividend by way of a distribution in specie of Border Timbers Limited (BTL) shares to RHL shareholders (the Shareholders) by a reduction in distributable reserves. The Board is of the view that the distribution in specie of 22,005,087 (twenty-two million five thousand and eighty-seven) BTL shares held by RHL would allow for an enhanced focus and strategic direction for the remaining structure. In light of the competitive dollarised environment, the Board had deemed the demerger of BTL from RHL a necessary event given the differing financial needs and sectoral focuses of each business. In the Boards opinion this corporate action would position RHL as a pure construction group to attract new capital. This would allow RHL to build on the already positive performance achieved by the Company in the construction sector. In summary, the demerger of BTL will allow for clear operational focus which is both attractive to investors and, positions RHL to pursue its own independent direction. The strong standalone company will have the ability to undertake mergers and acquisitions with entities in the same and complementary spheres of operations which will drive shareholder value.

2.

DISTRIBUTION IN SPECIE At an Extraordinary General Meeting held at 4th Floor Tanganyika House, Harare on Tuesday, 18 December 2012 at 1400 hours, the following resolution was considered by the Shareholders present at the meeting, either in person or by proxy, and was passed without modification: The distribution in specie of twenty two million, five thousand and eighty seven (22 005 087) ordinary shares in Border Timbers Limited (Border Timbers shares), to be paid out to the shareholders of Radar Holdings Limited (RHL), at the rate of three (3) Border Timbers shares for every seven (7) shares in RHL, held by each shareholder on the Record Date, be and is hereby approved. RHL has received requisite regulatory approvals from the Zimbabwe Stock Exchange, Securities Commission of Zimbabwe and the Exchange Control Division of the Reserve Bank of Zimbabwe. The Board would like to take this opportunity to thank the relevant regulatory authorities, management team and advisors for the successful execution of this distribution in specie. The dividend will be processed on 29 May 2013 to Shareholders registered in the books of the Company at the close of business on 4 January 2013, the Record Date scheduled in the Circular to Shareholders dated 27 November 2013. Share certificates will be available for collection from 31May 2013 and any uncollected certificates will be posted on 5 June 2013. Returned certificates will be kept in safe custody by the Company Secretary.

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PAYMENT OF TAXES In terms of existing legislation, RHL is obliged to deduct 10% (ten per cent) Withholding Tax and remit this to ZIMRA in respect of the BTL shares being issued to all individual, trust and non-resident Shareholders. In addition to the Withholding Tax, Capital Gains Tax will also be applicable. For administrative reasons, the Directors have resolved that RHL will bear the withholding and capital gains tax liabilities due to ZIMRA in respect of individual, trust and non-resident Shareholders, rather than deduct the withholding and capital gains tax direct from the shares being issued.

4. ADVICE CONCERNING THE DISTRIBUTION IN SPECIE RHL shareholders should consult their financial advisors, stockbrokers, bankers, legal practitioners or accountants or other professional advisors for advice should they be uncertain on any aspects concerning the distribution in specie.

By order of the Board

Radar Investments (Private) Limited

COMPANY SECRETARY 30 May 2013