SHAREHOLDERS

Pan African Business Solutions (Pty) Ltd                44.00%
Attie van Zyl                                                                  32.60%

A founding member of INCA & INCA Portfolio Managers

Joanne Whiting                                                              12.22%

A founding member of INCA & INCA Portfolio Managers

A fund set up to finance the education of IPM's black employees children

Bana Thuto Fund                                                            1 1.18%