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A E C I Limited - Announcement Regarding Completion Of The Disposal By The Aeci Group Of Its Surplus Property Assets

Release Date: 20/03/2014 15:00:00      Code(s): AFE     
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
(?AECI? or ?the AECI Group?)


ANNOUNCEMENT REGARDING COMPLETION OF THE DISPOSAL BY THE AECI GROUP
OF ITS SURPLUS PROPERTY ASSETS AT MODDERFONTEIN TO SHANGHAI ZENDAI
PROPERTY LIMITED (?SHANGHAI ZENDAI?)

Shareholders of AECI (?Shareholders?) are referred to the announcement released on the Stock
Exchange News Service (?SENS?) of the JSE Limited on Monday, 4 November 2013 which
provided details of the disposal by the AECI Group of the bulk of its surplus property assets at
Modderfontein and its property development business, to Shanghai Zendai (?the Transaction?).

Shareholders are further referred to the announcement released on SENS on Tuesday, 28
January 2014 whereby Shareholders were advised of the conditions precedent having been
fulfilled, other than the transfer of the properties subject to the Transaction which have an
aggregate acquisition price of R513 million (including VAT) or such lesser amount as agreed by
Shanghai Zendai, to the South African subsidiaries of Shanghai Zendai, namely Zendai
Development (South Africa) Proprietary Limited and Zendai Investment Management (South
Africa) Proprietary Limited (?the Transfer?).

AECI is pleased to announce that the Transfer has been completed and that no outstanding
conditions precedent to the Transaction remain. Accordingly, the Transaction became effective
on 20 March 2014 and AECI has received the Transaction price in full in cash in the amount of
R1 060 974 457 (including VAT).

Woodmead, Sandton
20 March 2014

Investment Bank and Transaction Sponsor
The Standard Bank of South Africa Limited

Legal Adviser
Webber Wentzel

Date: 20/03/2014 03:00:00 Supplied by www.sharenet.co.za                     
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