AECI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1924/002590/06)
JSE ordinary share code: AFE
JSE preference share code: AFEP
JSE ordinary share ISIN: ZAE000000220
JSE preference share ISIN: ZAE000000238
("AECI")
FULFILLMENT OF SUSPENSIVE CONDITIONS RELATING TO THE ACQUISITION BY AECI OF THE
KTH CONSORTIUM'S 25,1% INTEREST IN AECI'S EXPLOSIVES BUSINESS IN EXCHANGE FOR
ORDINARY SHARES IN AECI
AECI shareholders ("Shareholders") are referred to the announcement released on the Securities Exchange News Service on Monday, 19 December 2011 and published in the press on Tuesday, 20 December 2011.
Shareholders were advised that, subject to certain suspensive conditions, AECI had entered into an agreement with, inter alia, Kagiso Tiso Holdings Proprietary Limited (RF) ("KTH") and the Tiso AEL Development Trust ("the AEL Trust") in terms of which AECI would acquire an effective 25,1% interest in AEL Mining Services Limited, a wholly-owned subsidiary of AEL HoldCo, from KTH and the AEL Trust, in exchange for the issue of 4 678 667 ordinary shares in AECI ("the KTH Transaction").
Shareholders are hereby advised that all the suspensive conditions relating to the KTH Transaction have now been fulfilled.
Woodmead
19 January 2012
Investment bank and Attorneys and tax Reporting accountants and
transaction sponsor advisers auditors
The Standard Bank of South Webber Wentzel KPMG Inc.
Africa Limited
Independent professional Corporate sponsor
expert
Rand Merchant Bank (a
Ernst & Young Advisory division of FirstRand Bank
Services Limited Limited)