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Southern View Finance Ltd – Q2 2014 Results Announcement

24 February 2014

Hamilton, Bermuda – 24 February, 2014 – In a filing with the Bermuda Stock Exchange (“BSX”), Southern View Finance Ltd. (the “Company” or “SVF”; Ticker: SVF.BH) has announced the Company’s 2014 Interim financial results for the period ending 31 December, 2013. The filing stated:

“ABRIDGED UNAUDITED CONSOLIDATED RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2013

Southern View was incorporated in Bermuda on 10 January 2013 and obtained its certificate to commence business on the same day. The company has been established for the purpose of holding investments. The Company's primary listing is on the Bermuda Stock Exchange ("BSX"). It has a secondary listing on the Alternative Exchange of the JSE Limited ("AltX").

REPORTING CURRENCY

The reporting currency of the Company was changed from United States Dollar to South African Rand by a Directors resolution dated 20 February 2014. Therefore, the opening balances were retranslated effective from 1st July 2013.

BUSINESS REVIEW

Southern View has performed in line with expectations following its listing on the BSX and the AltX and the successful acquisition of Southern View Finance Mauritius Ltd and Southern View Finance UK Ltd.

DIVIDEND

No dividend has been declared for the period under review.

BASIS OF PREPARATION

These abridged unaudited consolidated results for the period ended 31 December 2013 have been prepared in accordance with the International Financial Reporting Standards, including IAS 34 - Interim Financial Reporting, the rules of the BSX and the Listings Requirements of the JSE Limited.

ACCOUNTING POLICIES

The results below have not been audited or reviewed by the Company's external auditors. The accounting policies adopted are consistent with those published in the Audited Annual Financial Statements for the period from incorporation on 10 January 2013 to 30 June 2013.

By order of the Board

Merwe Scholtz James Bareham

Chairman Chief Executive Officer

Income For the period ended 31 December 2013

Unaudited Restated for

for the period to the period to 31 Dec 2013 30 June 2013

ZAR ZAR

Revenue

Income 141,155,432 -

Expenses

Operating expenses (234,821,968) -

Administrative expenses (29,889,486) (10,411,077)

Finance costs (3,144,485)

Loss from operations (126,700,507) (10,411,077)

Interest income 891,064 -

Foreign currency gain 1,164,835 78,582

Loss for the period before tax (124,644,608) (10,332,495)

Taxation -

Loss for the period attributable to shareholders (124,644,608) (10,332,495)

Other comprehensive income -

Total comprehensive loss for the period

attributable to shareholders (124,644,608) (10,332,495)

Actual number of shares in issue

(Class A shares) 55,299,671.00 3,050,000

Weighted number of shares in issue

(Class A shares) 61,466,143.01 2,133,430

Basic loss per share (Class A shares) (2.03) (4.84)

Headline loss per shares (Class A shares) (2.03) (4.84)

Reconciliation of loss and headline loss:

Loss for the period attributable to shareholders (124,644,608) (10,332,495)

Headline loss attributable to shareholders (124,644,608) (10,332,495)

ABRIDGED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2013

Unaudited As at Restated as at

31 Dec 2013 30 June 2013

ZAR ZAR

ASSETS

Non-current Assets

Property, plant and equipment 1,558,575 606,417

Current Assets 1,233,172,912 20,935,286

Total Assets 1,234,731,487 21,541,703

EQUITY AND LIABILITIES

Capital and Reserves

Share Capital 55,153 3,010

Share premium 555,549,817 30,092,865

Retained earnings (134,977,103) (10,332,495)

Other reserves (747,629) (747,629)

Total equity attributable to shareholders 419,880,237 19,015,751

Non-current Liabilities

Loans 335,849,515 -

Trade and other payables 479,001,734 2,525,952

Total liabilities 814,851,249 2,525,952

Total Equity and Liabilities 1,234,731,486 21,541,703

ABRIDGED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the period ended 31 December 2013

Share Share Retained Other Total

capital premium earnings Reserves equity

ZAR ZAR ZAR ZAR ZAR

Balance at incorporation - - - -

Total comprehensive loss

for the period - - (10,332,495) (747,629) (11,080,124)

Shares issued 3,010 30,092,865 30,095,875

Balance at 30 June 2013 - Restated

3,010 30,092,865 (10,332,495) (747,629) 19,015,751

Balance at 01 July 2013

3,010 30,092,865 (10,332,495) (747,629) 19,015,751

Total comprehensive loss

for the period - - (124,644,608) - (124,644,608)

Shares issued 52,143 525,456,952 525,509,095

Balance at 31 December 2013-

unaudited 55,153 555,549,817 (134,977,103) 747,629) 419,880,237

ABRIDGED CONSOLIDATED STATEMENT OF CASH FLOWS

For the period ended 31 December 2013

Unaudited As at Restated as at

31 Dec 2013 30 June 2013

ZAR ZAR

Loss before taxation (124,644,608) (10,332,495)

Adjustments for:

Depreciation and amortisation 382,635 31,535

Unrealised gain on depreciation - 2,271

Unrealised gain on retranslated loss - (747,629)

Changes in working capital:

Trade and other receivables (904,303,016) (204,531)

Trade and other payables 476,475,793 2,525,952

Net cash utilised in operating activities (552,089,197) (8,724,897)

Net cash generated from investing activities (1,334,803) (640,223)

Net cash generated from financing activities 861,358,610 30,095,875

Effect of exchange rate fluctuations on cash held - -

Net cash at the beginning of the period 20,730,755 -

Net cash at the end of the period 328,665,365 20,730,755

Registered office: Mercury House, 101 Front Street, Hamilton, Bermuda, HM12

Directors: James Keyes (Non Executive), Gregory Toloram (Non Executive), James Bareham (Executive Officer), Herman Troskie (Non Executive), Merwe Scholtz (Non Executive Chairman), Sam Sithole (Non Executive)

Auditors: Moore Stephens BKV Inc.

Transfer secretary: Computer share Investor Services (Pty) Ltd

Ground floor, 70 Marshall Street, Johannesburg, 2001, South Africa

Registrar and transfer agent: Mercury Group Limited"

-ends-

Bermuda Listing Sponsor:

Global Custody & Clearing Ltd.

Mr. Grant Hopkins

Tel: (441) 294-7039

JSE Sponsor: Bravura Equity Services (Proprietary) Limited