Result of GM and Delisting from AIM

26 January 2018

Masawara Plc("Masawara", the "Company" or the "Group")

Result of General Meeting

Delisting of Masawara plc from AIM

Further to the announcement made on 9 January 2018 of the proposed delisting of Masawara plc from AIM, the Company announces that, at its General Meeting adjourned and then reconvened at 11.33 a.m. today, all resolutions were duly passed.

Accordingly, it is expected that cancellation of admission of ordinary shares of US$0.01 each in the capital of Masawara ("Ordinary Shares") will be become effective at 7.00 a.m. on 7 February 2018, and that the last day of dealings in Ordinary Shares on AIM will therefore be 6 February 2018. As previously announced, the latest time and date for receipt of Forms of Acceptance for those shareholders proposing to accept the Oxford Cash Offer is 1.00 p.m. on 5 February 2018.

Contact details

Masawara Plc

(Masawara Zimbabwe (Private) Limited, the Company's Investment Advisor in Zimbabwe)

Osbourne Majuru/Munashe Nyengerai

+263 4 751805

Cenkos Securities plc (Nominated adviser and broker)

Nicholas Wells/Elizabeth Bowman/Harry Hargreaves

+44 20 7397 8900

Capitalised terms used but not defined in this announcement shall have the same meaning as set out in the circular posted to shareholders on 9 January 2018.