BLANTYRE HOTELS LIMITED Company Registration number: 178

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the 70th Annual General Meeting of Hotels Limited is scheduled to be held at Ryalls Hotel in Blantyre on 9th March 2017 from 2:30 pm at which the following ordinary will be transacted:

1. Minutes of Previous Annual General Meeting To approve the minutes of the 69th Annual General Meeting held on 21st April 2016.

2. Chairman’s Report To receive the Chairman’s report for the year ended 30th September 2016.

3. Financial Statements To consider and approve the audited financial statements for the year ended 30th September 2016.

4. Dividend To declare a final dividend of K25.80 million representing 20 tambala per share (2015: K25.80 million representing 20 tambala per share) for the year ended 30 September 2016 as recommended by the Directors.

A first interim dividend of K64.6 million (or 50 tambala per share) was paid in July 2016 followed by a second interim dividend of K38.80 million (or 30 tambala per share) which was paid in November 2016. Once the final dividend is approved, the total dividend for the year will be K129.20 million or K1.00 per share (2015: K103.4 million or 80 tambala per share).

The share register will be closed from 17th March 2017 to 20th March 2017, both dates inclusive.

Members whose names will appear in the register at the close of business on 17th March 2017 will be eligible for this dividend payable on 24th March 2017.

5. Audit Fees To approve the audit fees of K15,400,000.00 (2015: K12,205,546.00) payable to KPMG in respect of the audit of the financial statements for the year ended 30th September 2016.

6. Reappointment of Auditors To re-appoint KPMG, Certified Public Accountants, as auditors for the ensuing year and to authorize Directors to fix the auditor’s remuneration.

7. Directors’ Appointment and Re-election

7.1 To appoint as Director Mr Vizenge Kumwenda to fill a vacancy that will arise at the conclusion of this Meeting following the retirement of Mr Felix Mlusu.

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Mr. Vizenge M. Kumwenda holds a Diploma in Business Studies, a Bachelor of Commerce Accountancy degree from the University of and a Master of Science (Finance) degree from the University of Strathclyde, Glasgow, Scotland. He is a Fellow Chartered Accountant and Associate of the Chartered Institute (UK). He is the Managing Director at NICO Holdings Limited. He serves on the Board of Directors at NBS Limited, NICO Properties Limited, Investments Alliance Limited, NICO General Insurance Company Limited, NICO Life Insurance Company Limited, NICO Asset Managers Limited and Millennium Holdings Limited among others.

7.2 To re-elect as Director Mr. Elias Malion who retires by rotation but being eligible has offered himself for re-election.

8. Directors Fees and Sitting Allowances

To fix the Fees and Sitting Allowances for the Chairman and other Non-Executive Directors, as follows:

8.1 Directors fees

 Chairman - K1,538,000 (up from K1,250,000) per annum  Non-executive directors – K1,384,000 (up from K1,125,000) per annum

8.2 Sitting Allowances

 Chairman - K108,000(up from K87,500) per sitting  Non-executive directors - K100,000 (up from K81,250) per sitting

9. Other Business To transact any other business prior notice of which shall have been given to the Company Secretaries by members of the Company not less than 21 days before the date of the Annual General Meeting.

Dated the 8th day of February 2017

BY ORDER OF THE BOARD

NICO ASSET MANAGERS LIMITED COMPANY SECRETARIES

Registered Office Chibisa House 19 Glyn Jones Road P.O Box 3173 BLANYRE

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