INFORMATION REQUIRED FROM AIH PROPERTY PORTFOLIO COMMITTEE

16 September 2024 articles SERVING FOR THE PLEASURE OF ALLAH ON BEHALF OF ALL REGISTERED MEMBERS PENSIONERS, WIDOWS, ORPHANS, MADRASAS, MUSJIDS & ALL OTHER VOICELESS OPPRESSED SHARESHOLDERS Suite 1 Tel 0313096871 74 Dunnottar Avenue Whatsapp 0662266126 Asherville E-mail [email protected] Sydenham, Durban ACTIVIST FORUM AMAANAT MINORITIES 16th September 2024 To: PROPERTY PORTFOLIO COMMITTEE & CHAIRMAN Amaanat Investment Holdings Ltd (AIH Mahomed Sadeck Ahmed Paruk (Chairman of the board) Sulayman Yacob Abdullah (Portfolio Committee chair) Imtiaz Aboobaker Tayob Abdool Kader Essa Shabeer Mahomed Joosub (Outgoing Director) Allyriza Ally (invitee) Dear Sir/s RE: URGENT INFORMATION REQUIRED FROM AIH PROPERTY PORTFOLIO COMMITTEE 1. We refer to the above matter. We are compelled to address urgent and serious concerns regarding recent property transactions and the broader asset disposal strategy for AIH. As a public company, AIH must adhere to the highest standards of governance and transparency. The following issues require immediate and thorough clarification: 1. Number of Properties Sold: Provide an accurate count of the properties that have been sold recently without delay. 2. Details of Sold Properties: Furnish a complete list of all sold properties, including their addresses. This information is crucial for assessing the overall transaction strategy. 3. Sale Prices: Disclose the sale price for each property. We are particularly concerned about the sale of a property located at 102 Felix Dlamini Road for R8.4 million annexed hereto “A”. Given AIH’s historical context, this transaction raises significant red flags. We demand confirmation of this sale and detailed information on all other properties sold. 4. Advertising and Pricing: Confirm whether these properties were advertised publicly. If they were, provide the advertised prices for each. Full transparency in this regard is not optional but a necessity. 5. Related Party Transactions: Clarify whether any of the sold properties were acquired by related parties. This information is essential, as public companies are obligated to SERVING FOR THE PLEASURE OF ALLAH ON BEHALF OF ALL REGISTERED MEMBERS PENSIONERS, WIDOWS, ORPHANS, MADRASAS, MUSJIDS & ALL OTHER VOICELESS OPPRESSED SHARESHOLDERS Suite 1 Tel 0313096871 74 Dunnottar Avenue Whatsapp 0662266126 Asherville E-mail [email protected] Sydenham, Durban ACTIVIST FORUM AMAANAT MINORITIES disclose related party transactions to avoid conflicts of interest and maintain accountability. 6. Asset Disposal Plan: AIH’s plan to dispose of 60% of its assets, including properties, must be handled with utmost transparency. We insist on a publicly available list of all assets for sale to ensure that shareholders are fully informed. 7. Governance and Auction Recommendations: Given AIH’s status as a public company, it is imperative to follow best practices in governance. We assert that a public auction with reserve prices is the only acceptable method for disposing of properties. Discreet sales undermine shareholder trust and transparency, especially considering the company’s troubled past. 8. We require a detailed response to these concerns within 7 days of the date of this letter. 9. Our rights remain strictly reserved herein Sincerely M Peer Chairman Amaanat Minorities NPO SERVING FOR THE PLEASURE OF ALLAH ON BEHALF OF ALL REGISTERED MEMBERS PENSIONERS, WIDOWS, ORPHANS, MADRASAS, MUSJIDS & ALL OTHER VOICELESS OPPRESSED SHARESHOLDERS Suite 1 Tel 0313096871 74 Dunnottar Avenue Whatsapp 0662266126 Asherville E-mail [email protected] Sydenham, Durban ACTIVIST FORUM AMAANAT MINORITIES “A”