The SNIC Group Ltd is a black owned investment and entrepreneurial public company that operates in a number of fields but with a bias towards the Property, Financial Services, Logistics and Commodities sectors. The group operates in a number of major African economies and other emerging markets and has partnered with large listed and private multinational groups.

Our primary focus is to be entrepreneurial in our approach and we actively seek out investments where our strong leadership can transform infant or maturing businesses into large institutions which have the capacity to create jobs in emerging economies. We are well connected in a number of African countries and are able to implement complex investments in both the private sector and through PPPs. We also play a responsible role in the local economies where our footprint stretches and we believe strongly in maintaining the cultural integrity of our target companies.

The SNIC Group has also completed a number of major Black Economic Empowerment transactions in the aviation and financial services sectors in South Africa and continues to grow its partnerships as a dependable BBBEE partner.

Vision: Our vision is to pioneer the African dream through entrepreneurial excellence, perfected wisdom and empowered laconic commerce.

Mission: Our mission is to create integrity driven partnerships with like-minded global businesses that operate in high value-adding sectors in the African economy.

SNIC BOARD OF DIRECTORS

The SNIC Group has put together a board of directors that has a blend of youthful exuberance balanced with superior corporate and entrepreneurial experience. The skills base on the board ranges from solid financial acumen all the way to proven legal expertise.

The members of the board of directors of the SNIC Group are:

Dave S Avnit CA (SA) - Group Executive Chairman

The SNIC Group is privileged to have Dave Avnit as the Executive Chairman of the Board. Dave is a highly experienced entrepreneur who has succeeded in a Corporate and Entrepreneurial capacity. Dave has an MBA from Wits and has extensive corporate leadership experience including being the former Chairman of Fedsure Health Ltd and Non-executive director of Netcare Ltd. Over the past ten years Dave has been Chief Executive of the Ayres Global Aviation Group which has been active in Africa and the East. Dave is also the past chairman of the African Chapter of the Young Presidents Organization (being the largest global business network) and has been a member of a number of international committees. Dave is also a qualified pilot.

Dave was Chief Executive and Chairman of a number of companies in the Fedsure Group focusing on Life Insurance, Banking and Health care. He concluded a number of significant acquisitions and joint ventures in these various areas of business activities and grew the operations from a Turnover of R170 million to R3 billion with a staff compliment of 3,000. With Dave at the helm, assets increased from R300 million to R40 billion over a ten year period. Prior to this Dave headed a successful Management Buyout of an electronics company eventually selling it to its largest competitor. Dave is a qualified Chartered Accountant and he has lectured at various business schools in the United States and South Africa in the areas of Strategy and Acquisitions for over 12 years.

Siphiwe Nodwele - Group Chief Executive Officer

The SNIC Group is led by its founder and Group Chief Executive Officer, Siphiwe Nodwele. Siphiwe read his LLB at the Oliver Schreiner School of Law at the University of the Witwatersrand and subsequently completed a Masters degree in corporate law at the same institution, with Banking & Finance and Advanced Mergers & Acquisitions Law as sub majors. Siphiwe has also worked at two of the top 5 corporate law firms in South Africa, Deneys Reitz Attorneys and Bowman Gilfillan Inc. In 2008, Siphiwe was appointed Chief Operating Officer of Umkhandi Investments (Pty) Ltd, an investment company with interests in the Human Resources, Consumer Electronics and Timber sectors. As group Chief Operating Officer, Siphiwe's primary role was that of deal origination, deal strategy, due diligence, execution and creating a platform for listing. Umkhandi acquired a R60 million turnover Human Resources company during Siphiwe's tenure and he lead all the back office legal and finance work.

Siphiwe was later appointed as the Chief Executive Officer of Umkhandi Resources (Pty) Ltd where he initiated the acquisition of a listed company with a R300 million market capitalization on behalf of Umkhandi Resources. More recently, Siphiwe has been the Head of Legal for Endulwini Resources Limited, a junior coal mining company that exports coal through the Richards Bay Coal Terminal. Siphiwe also sits on the Executive Committee, Audit Committee and the Social and Ethics Committees of Endulwini Resources Limited and also serves on the boards of Endulwini Capital and the Ayres Global Aviation Group.

Witness K Makhubele - Non-executive Director

Witness is a corporate lawyer and a partner in one of the major corporate law firms in South Africa, Edward Nathans Sonnenbergs Inc. He specialises in takeovers; mergers and acquisitions; providing legal advice and drafting of agreements/documents in relation to sales and acquisitions of businesses, shares and assets, schemes of arrangements, restructurings and unbundlings.

He also advises on the regulatory aspects and environment of transactions, such as the JSE Listings Requirements, Securities Regulation Code, South African Reserve Bank approvals, etc. Witness brings with him his expertise on negotiating and the structuring of black economic empowerment transactions, having been involved in some of the major BEE transactions of major listed companies. He also advises on company and board structurings. He has a total of 13 years of legal experience. Witness read his Biuris and LLB at the University of the North and has a Masters degree in corporate law from the University of the Witwatersrand.

Edward L Semenya - Non-executive Director

Edward is a product of the University of Witwatersrand. He completed his Bachelor of Commerce degree with Accounting as a first major and Management Accounting & Finance as a second major. Whilst his educational background lies within the Accounting arena, his exploits and expertise lie in the Investments field. The beginning of which, being his time at Absa Fund Managers. This entailed dealing expressly with high volume unit trust investments for both retail as well as institutional investors.

Edward then joined corporate giant RMB Asset Management as an Investment Specialist following his time at Absa Fund Managers. The need for this more skilled position in such an environment is what primarily blends with his analytical yet charismatic nature. This position as Specialist entailed thorough knowledge of the RMBAM investment range whilst at the same time being able to attract high net worth investment. Subsequently, Edward has joined Liberty Life and Stanlib Investments to fulfil a similar but more hands-on role. This position has allowed him to add a Wealth Management qualification to his knowledge base whilst at the same time pursuing his post graduate degree in the same discipline. In his capacity as Non-Executive Director of SNIC, he will not only provide a wealth of insight but also elevate the Group with his dynamic approach to doing business.

INVESTMENT PHILOSOPHY

The SNIC Group investment philosophy is founded on 3 basic principles:

• i) The target firm must be operating in one of the four high growth industries we have identified;
• ii) All businesses that we are involved in are entrepreneurially driven; and
• iii) We will only participate in high cash generative companies.

The SNIC Group, through its industry specific subsidiaries, will look at equity investments of between R10 million to R150 million depending on the particular sector and will only participate in transactions where it can acquire a minimum of 20% of the issued share capital of the target company. We do consider larger investments on an ad-hoc basis. For further details on industry specific investments, please see the sector breakdowns.

The type of investments made by the SNIC Group will be analysed on a deal by deal basis and may include pure equity investments, equity-debt combinations, and short term debt funding on highly secured transactions. Our investment horizon will also be determined on each transaction; however, our general approach will be guided by the chart below depending on the type of investment made.

Investment Period



Investment Process

The SNIC Group investment process is made up of four components, which depending on the size of the investment; the sector concerned; and the geographical location of the transaction; the deal can be concluded between 2 and 10 weeks:

• i) Deal origination: The executive committee (comprising of the executive chairman and the chief executive officer) identify and source potential transactions that meet the company's investment criteria.
• ii) Deal investigation: If the executive committee is comfortable with the prospects of a particular transaction, they will have preliminary engagements with the target company and evaluate the feasibility of the investment and a soft due diligence will be conducted.
• iii) Due diligence: If a potential transaction passes the investigation phase then a full scale due diligence will be conducted focusing on all the legal and financial aspects of the transaction.
• iv) Investment committee: Should the due diligence outcome be satisfactory to the executive committee, a detailed investment proposal will be made to the investment committee (consisting of the board of directors and a representative from all the major funders of the SNIC Group) and the investment will only be made if the investment committee approves the transaction.

The SNIC Group is well positioned to be your company's dependable black economic empowerment partner under the South African Broad Based Black Economic Empowerment Act 53 of 2003. To this end 26% of the SNIC Group is owned by a broad based trust that beneficiates women, youth and education based organizations representing historically disadvantaged individuals in the Kwa-Zulu Natal, Limpopo and Eastern Cape regions of South Africa. This trust is the largest shareholder of the SNIC Group thus reinforcing our commitment to broad based economic transformation. The SNIC Group is a certified Level 3 BEE Company with a 110% BEE Procurement Recognition.

These are some of the brands that the SNIC Group has partnered with as a BEE Partner:



The SNIC Group represents a unique proudly South African investment partner:

• We are truly broad based BEE group
• We are a successful match of youth, energy, white and black partnerships
• We currently have impressive deal flow in South Africa and other African countries
• We have a well-connected team
• We have an African foot print with a global reach
• We are invested for the medium to long term

Please email Siphiwe Nodwele, our Group Chief Executive Officer at nodweles@snic.co.za to discuss your company's BEE needs.