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CBA Cautionary Announcement - Proposed Merger Update

The Directors of Commercial Bank of Africa Limited (“CBA”) are pleased to announce the results of the offer made by NIC Group PLC (“NIC Group”) to CBA Shareholders to acquire all the issued shares in CBA in exchange for the issue to such shareholders of shares in NIC Group. After such share exchange, the 34 shareholders of CBA will in aggregate own 53% of the then issued shares in NIC Group, whilst existing NIC Group shareholders will own 47% of the then issued shares in NIC Group.