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SOUTHERN VIEW FINANCE LIMITED– AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015

30 December 2015

Hamilton, Bermuda – 30 December, 2015 – In a filing with the Bermuda Stock Exchange (“BSX”), Southern View Finance Ltd. (the “Company” or “SVF”; Ticker: SVF.BH) today announced the financial results for the year ended 30 June 2015. The filing stated:

The Company is incorporated in Bermuda and its main purpose is the holding of investments. The Company maintains a primary listing on the Bermuda Stock Exchange (“BSX”) and a secondary listing on the Alternative Exchange (“AltX”) of JSE Limited (“JSE”). The listing of the Company’s Class A shares on the AltX, in so far as it relates to their trading, has been suspended with effect from Monday, 9 November 2015.

BUSINESS REVIEW

The Group recorded a net profit after tax for the financial year ended 30 June 2015 (“2015 Financial Year”) of R368,480,171 (2014: R51,799,445).

EVENTS AFTER THE 2015 FINANCIAL YEAR: DISPOSAL OF SUBSIDIARIES, AND CAPITALISATION

Subsequent to the 2015 Financial Year, the board of directors of the Company (the “Board”) accepted an offer for the disposal of all of the shares in and loan claims against the Company's subsidiaries held by the Company (the “Transaction”). The purchaser was Fulcrum Financial Services SA (“Fulcrum”), a company incorporated and registered in Switzerland.

All conditions precedent to which the Transaction agreements were subject were fulfilled or waived timeously, and the Transaction was implemented in accordance with the terms of the Transaction agreements. For further information please refer to the announcements released on 18 August 2015, 2 October 2015 and 7 October 2015, respectively.

In addition, a further capitalisation of a subsidiary of the Company, Southern View Finance UK Limited, was made to the amount of R72,635,938 on 17 September 2015.

DIVIDENDS

A final dividend payable to Class B shareholders amounting to R5,323,960 relating to the 2014 Financial Year was declared by the Board on 21 January 2015, and paid on 28 January 2015. An interim dividend payable to Class B shareholders amounting to R15,641,051 relating to the 2015 Financial Year was declared on 3 February 2015, and paid on 9 February 2015.

On 16 September 2015 and subsequent to the end of the 2015 Financial Year, the Board declared a dividend of R65,000,000 to its Class A shareholders, and a dividend of R35,875,000 to its Class B shareholders. The dividends were paid on 9 October 2015.

SHARE CAPITAL

On 21 November 2014, the Company raised R649,999,975 through the issue of 58,665,704 Class A shares to certain Class A shareholders of the Company.

On 1 October 2015, the Company announced that Fulcrum had elected to settle the purchase consideration due to SVF in relation to the Transaction by the creation of a loan claim in favour of the Company in an amount equal to the purchase price due in terms of the Transaction agreement (“Loan Claim”). Consequently and in terms of the Transaction agreement, SVF declared, and on 19 October 2015, distributed as a distribution in specie an amount of R25.58578 (US$1.86183 at the then prevailing exchange rate) per Class A share to Class A shareholders and an amount of R33.90573 (US$2.46726 at the then prevailing exchange rate) per Class B share to Class B shareholders (“Distribution”).

In addition, on 21 October 2015 the Company repurchased all of the shares held by its Class A shareholders, save and except for 0.0001% of the Class A shares held by each Class A shareholder rounded up to the nearest whole share, as well as all of the shares held by the Class B shareholders (“Repurchase”). The Class B shares of the Company were subsequently terminated on the AltX with effect from 16 November 2015.

For further information in respect of the Distribution and Repurchase, please refer to the announcements released on 2 October 2015, 7 October 2015 and 6 November 2015 respectively.

On 12 November 2015, the Company announced that it had entered into a subscription agreement with Osiris Property Services Ltd (“Osiris”) in terms of which agreement Osiris agreed to subscribe for 625,000 Class A shares with a par value of US$0.0001 each at a subscription price of US$0.80 per share, amounting to a total value of US$500,000.00. For further information please refer to the announcement released on 12 November 2015.

The Company currently has 625,120 Class A shares in issue.

BASIS OF PREPARATION

The consolidated annual financial statements for the 2015 Financial Year (“AFS”) have been prepared in accordance with International Financial Reporting Standards, the Bermuda Companies Act, 1981 (the “Act”), the BSX Listing Regulations and the JSE Listings Requirements.

ACCOUNTING POLICIES

The financial results set out below have been audited by the Company’s external auditors. The accounting policies adopted are consistent with those published in the Consolidated Financial Statements for the 2014 Financial Year.

By order of the Board

30 December 2015

Summary information of the financial results of the Group for the 2015 Financial Year, are as set out below:

AUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015

Group: Audited	2015	2014
	R	R
ASSETS

Non-Current Assets
Property, plant and equipment	-	119,875,763
Goodwill	-	17,827,548
Intangible assets	-	24,671,977
Other financial assets	-	17,328,965
Deferred tax	-	4,260,969
	-	183,965,222
Current Assets
Other financial assets	-	463,319
Trade and other receivables	-	137,359,611
Loans and advances	-	1,298,506,352
Cash and cash equivalents	-	563,268,941
	-	1,999,598,223
Assets of disposal group classified as held for sale	2,454,587,366	-
	2,454,587,366	1,999,598,223
Total assets	2,454,587,366	2,183,563,445

EQUITY

Share capital	1,328,664,945	678,664,970
Accumulated profit	387,482,373	41,466,947
Foreign currency translation reserve	(523,688)	(747,630)
Total equity attributable to equity shareholders	1,715,623,630	719,384,287
Non-controlling interest	1,537,598	-
Total equity	1,717,161,228	719,384,287

LIABILITIES

Non-current liabilities
Other financial liabilities	-	318,630,151

Current liabilities
Other financial liabilities	-	1,006,532,670
Current tax payable	-	5,620,871
Trade and other payables	-	133,395,466
	-	1,145,549,007
Liabilities of disposal group classified as held for sale	737,426,138	-
Total liabilities	737,426,138	1,464,179,158
TOTAL EQUITY AND LIABILITIES	2,454,587,366	2,183,563,445

AUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015

Discontinued operations

Group: Audited	2015	2014
	R	R
Interest income (trading)	1,011,079,697	436,690,692
Loan and transaction fees	748,158,609	353,860,292
Direct distribution expenses	(296,327,515)	(128,857,945)
Net portfolio income	1,462,910,791	661,693,039

Other income	44,937,999	40,567,262
Operating expenses	(352,361,419)	(216,239,837)
Loans and advances written off	(628,804,308)	(118,051,921)
Provision for Impairment of loans and advances	(25,003,809)	(257,332,037)
Finance costs	(85,183,010)	(45,887,838)
Other expenses	(1,056,414,547)	(596,935,371)

Operating profit before taxation	406,496,244	64,757,668
Taxation	(38,016,073)	(12,958,223)
Profit for the year	368,480,171	51,799,445

Profit attributable to:
Shareholders	367,967,689	51,799,445
Non-controlling interest	512,482	-
Profit for the year	368,480,171	51,799,445

Other comprehensive income
Items that are or may be reclassified to profit or loss
Foreign currency translation on foreign operations – subsidiaries	249,009	-
Total comprehensive income for the year	368,729,180	51,799,445

Total comprehensive income attributable to:
Shareholders	368,191,631	51,799,445
Non-controlling interest	537,549	-
Total comprehensive income for the year	368,729,180	51,799,445

Earnings per share (cents)
Basic	353	122
Diluted	353	122

AUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2015

Group: Audited	Share capital	Share premium	Total share capital	Accumulated profit (loss)
	R	R	R	R

Balance at 1 July 2013	3,010	30,092,865	30,095,875	(10,332,498)

Profit for the year ended 30 June 2014	-	-	-	51,799,445
Total comprehensive income for the year	-	-	-	51,799,445
Issue of shares	66,840	648,502,255	648,569,095	-
Total contributions by and distributions to owners of company recognised directly in equity	66,840	648,502,255	648,569,095	-
Balance at 30 June 2014	69,850	678,595,120	678,664,970	41,466,947

Balance at 1 July 2014	69,850	678,595,120	678,664,970	41,466,947

Profit for the year	-	-	-	367,967,689
Other comprehensive income	-	-	-	-
Total comprehensive income for the year	-	-	-	367,967,689
Issue of shares	62,912	649,937,063	649,999,975	-
Increase in non-controlling interest – Spotco Holdings Pty Ltd	-	-	-	(987,252)
Dividends paid to shareholders	-	-	-	(20,965,011)
Total contributions by and distributions to owners of company recognised directly in equity	62,912	649,937,063	649,999,975	(21,952,263)
Balance at 30 June 2015	132,762	1,328,532,183	1,328,664,945	387,482,373

(Continued)

Group: Audited	Foreign currency translation reserve	Total attributable to equity shareholders	Non-controlling interest	Total equity
	R	R	R	R

Balance at 1 July 2013	(747,630)	19,015,747	-	19,015,747

Profit for the year ended 30 June 2014	-	51,799,445	-	51,799,445
Total comprehensive income for the year	-	51,799,445	-	51,799,445
Issue of shares	-	648,569,095	-	648,569,095
Total contributions by and distributions to owners of company recognised directly in equity	-	648,569,095	-	648,569,095
Balance at 30 June 2014	(747,630)	719,384,287	-	719,384,287

Balance at 1 July 2014	(747,630)	719,384,287	-	719,384,287

Profit for the year	-	367,967,689	512,482	368,480,171
Other comprehensive income	223,942	223,942	25,067	249,009
Total comprehensive income for the year	223,942	368,191,631	537,549	368,729,180
Issue of shares	-	649,999,975	-	649,999,975
Increase in non-controlling interest – Spotco Holdings Pty Ltd	-	(987,252)	1,000,049	12,797
Dividends paid to shareholders	-	(20,965,011)	-	(20,965,011)
Total contributions by and distributions to owners of company recognised directly in equity	-	628,047,712	1,000,049	629,047,761
Balance at 30 June 2015	(523,688)	1,715,623,630	1,537,598	1,717,161,228

AUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2015

Discontinued operations

Group: Audited	2015	2014
	R	R
Cash flow from operating activities

Cash generated from/ (used in) operations	684,698,936	(1,187,556,905)
Interest income	20,286,242	6,251,339
Finance costs	(67,486,113)	(46,351,157)
Taxation paid	(32,412,284)	(11,598,321)
Net cash generated from/ (used in) operating activities	605,086,781	(1,239,255,044)

Cash flows generated from investing activities

Purchase of property, plant and equipment	(29,960,038)	(118,729,366)
Disposal of property, plant and equipment	215,561	-
Purchase of other intangible assets	(15,212,583)	(20,833,229)
Business combinations	(19,813,348)	(37,000,000)
Movement in loans from group companies	4,452,565	-
(Increase) / decrease in financial assets	1,450,005	(17,328,965)
Net cash used in investing activities	(58,867,838)	(193,891,560)

Cash flows from financing activities

Proceeds on share issue	649,999,975	648,569,095
Dividends paid to shareholders	(20,965,011)	-
Proceeds from other financial activities	-	1,325,162,821
Repayment of other financial liabilities	(830,042,917)	-
Net cash (used in) / generated from financing activities	(201,007,953)	1,973,731,916

Total cash movement for the year	345,210,990	540,585,312
Effect of exchange rate fluctuations on cash held	(12,422,672)	1,967,843
Cash at the beginning of the year	563,268,941	20,715,786
Net cash at the end of the year	896,057,259	563,268,941

ANNUAL GENERAL MEETING

Under an exemption granted by the BSX, and subsequent to an agreement obtained from the sole shareholder of the Company, Osiris, and the Board, to waive the requirement to lay the Annual Financial Statements for the 2015 Financial Year before a general meeting of the Company (as is allowed for under section 88 of the Act), the Company will not be convening an Annual General Meeting.

CHANGE OF NAME

Shareholders are reminded that the Company on 15 December 2015, announced the implementation of a change of the name of the Company from Southern View Finance Ltd to VestIN Holdings Ltd (“Change of Name”).

The Company will trade on the BSX under the ticker “VIN.BH” and the short name “VestIN”, on the AltX under the ticker “VIN” and the short name “VestIN”, and the International Securities Identification Number of the Company will change from “BMG829251013” to “BMG934031060” once the Change of Name becomes effective on 4 January 2016, on each of the BSX and AltX.

30 December 2015

Hamilton/Johannesburg

BSX sponsor: Global Custody and Clearing Limited

JSE sponsor: Bravura Capital Proprietary Limited

SOUTHERN VIEW FINANCE LIMITED

(Incorporated in Bermuda with registration number 47305)

Class A share codes: BSX: SVF.BH JSE: SVF ISIN: BMG829251013

Class B share codes: BSX: SVFB.BH JSE: SVFB ISIN: BMG829251195

("SVF" or "the Company")