540

"SARS48"

30 November 2017

Sasfin Bank
29 Scott Street
Waverley
Johannesburg
2090

Dear Sirs,

!Nie, ·he undersigned:

______P-_,.,._f.«i_c._,.:,,_� <' _g,..,.1'.,\ A¥";"°' _(?.._,.._)_L_�_··-�---

Hereby appoint and authorise �

Salt Asset Managemen tP ty Lta

To be our Agent on the following t ,rs -

1 To enter into comrr:0 cu ess t sacfons m relation to over-the-counter and/or

exchange traded Fa � � �... ucts futures and/or money market products, to
open Customer Fore,-:: 1ts andtor any other accounts as may be required,
(the 0Transactions"i Limited. Registration Number 1951/002280/07
I (1'Sasfin") on our ber

2. To do all things neces
execution of the Star.
"Trade Confirmations
associated with the
Investec to my/our Ac -
understood and agrc
entered into betwee ,.
of the Principal).
o tl"e T�ansactions including, but not limited to, the
Cc'laitions. all confirmations of the Transactions (the
r.i, �ett:ement instructions and all ancillary documents
;i:,e effect thereto, the same being forwarded by
t me. The Principal acknowledges that it has read,
e "rov;s,cns of the Standard terms and Conditions
, ' ...,pa' (as executed by the Agent for and on behalf

3. The Principal hereby­ ansact;ons w1dertaken on its behalf by the Agent

shall comply with ar ' � '1s arct Legislation, in respect of the South Afrtcan
Reserve Bank Excra "ns and, further the Principal warrants that it is
no� as at the s1gnat ·,a, not dunng the currency of this mandate, be,
in contravention of !, o· Rules Regulations and/or Legislation. The
Principal further und -& - w.th all documents required by the Exchange
Control Oepartmen , IJ serve Bank pr'or to the Maturity Date of any
Transaction.
Salt Asset Management is an a � rv1ces p . 1der FSP 43878
 541

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ASSET
ALT
> ,.,,., ~ 11
NAGEMENT

4. The Principal ackno dS . oes J.,<>,c,pate 1na tee sharing arrangement with
the Agent and as s o "'i "\ Sasfi in respect of any Transaction(s}
entered into betwee Sas ~

5. The Principal ackn ::i ote the market re,ated base rate ("Base
Rate") in respect o· a,. rdre 1to , the Agent on behalf of the Principal, the
determination and er .ri,cl .. b solely within Sasfin's diScretion, which
Base Rate shall be ... t·westec conver the currency.

6. Notwithstanding the ~ c ' - -::i ~ 4 .:ind 5 above. the Pnncipal hereby expressly
authonses its Agen ~n ,... ·-, ,ee of 4 cents which shall be an additional
charge to the Base-0 c:: permits Sasfln to pay the Agent such Agent
fees as accrue 1n :e J • ~ :ms "' e" ted by the Agent on behalf of the Principal.

7. The Principal hereby e r

• - st any and all claims, loss, demands. liability,
costs and expenses ard owsoever caused and arising, which may
'11
at any time be ma~ , ., ov 'I r,erson or which Sasfin may sustain or incur
arising directly or .,_ , •• _ ~ ,, ~ equence of any payments facilitated by Sasfin
on behalf of the Prl ~

8. The Principal ack :s, r- .,, s r.e sole discretion to enter into Transactions
with the Agent.

6, Should the Princ1;,a ... ·es t ::: riew agent (the New Agent") then it shall
-. "V
enter into a new rr . ew Age termmate the services of the old Agent, and
forward written nc •ce Sa .. ,,

7 This authority mayo t ~e Pr a1pa1 on ._1ttennotice to Sasfin.

Duly auihorisedfor and on te:-

Name Ludwig Fransua

Friedrich Geyser

Date: 30Nov 2017 Date

Salt Asset Management 1s an a