Year: <span>2015</span>

Thuthukani IT Services was looking at further growth. With its shareholding in subsidiaries and an operational
element to the business, it became important to align the various entities and to ensure that the shareholder
(Thuthukani IT Services) did not compete with its subsidiaries, but rather managed the synergy between these
entities.

Thuthukani IT Services thus became a holding company.

With Thuthukani IT Services becoming a holding company, Thuthukani Technology Solutions, a 100% subsidiary
was created. Thuthukani Technology Solutions took on the operational elements of Thuthukani IT Services
whilst bringing additional services and solutions to the group’s portfolio.

On the 3rd of July 2015 , Thuthukani Information Technology Services (Pty) Ltd exercised an option to dispose
of its entire holding in Atio Corporation (Pty) Ltd. The disposal of the Atio shares places Thuthukani in a position
to identify and explore strategic acquisitions in businesses which will add value to the group and which will be
aligned with future strategies of the company.

The company wishes to thank Atio management and staff for their efforts and their labour in making Atio an
excellent business and for their contribution to Thuthukani and we wish Atio all the very best for the future.