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EXXARO RESOURCES LIMITED - Financial assistance for 2016 financial year

Release Date: 26/11/2015 12:14:00      Code(s): EXX     
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN code: ZAE000084992
(Exxaro, Company or group)


Shareholders of diversified resources group Exxaro are reminded of the
announcement made on the Stock Exchange News Service on 3 December 2014
regarding the provision of financial assistance to related and inter-related parties of
Exxaro for the 2015 financial year.         This type of transaction and resultant
announcement has become standard practice in order to, inter alia, specifically permit
the funding (including effective cash management within a group) of subsidiaries and
associates within larger groups, in compliance with the requirements of the Companies
Act 71 of 2008, as amended (the Act).

In Exxaro, financial assistance requirements for the forthcoming financial year are
reviewed and approved by the Board of Directors in November of each year.
Therefore, in compliance with section 45 of the Act, shareholders are advised that,
pursuant to the authorisation granted at the Annual General Meeting of Exxaro held on
26 May 2015, the Board of Directors of the Company (the Directors) at its meeting
held on 26 November 2015, has approved, in accordance with section 45 of the Act,
the giving of financial assistance to related and interrelated companies of the group up
to an amount not exceeding R15 billion (2015: R40 billion), at any time and from time
to time during the period 1 January 2016 to 31 December 2016.

The Directors have confirmed that, after considering the reasonably foreseeable
financial circumstances of the Company, it is satisfied that, immediately after providing
such financial assistance, the Company will satisfy the solvency and liquidity test, as
contemplated in section 45 of the Act and detailed in section 4 of the Act; and that the
terms under which such assistance is proposed to be given are fair and reasonable to
the Company.

Absa Bank Limited (acting through its Corporate and Investment Banking

26 November 2015

Date: 26/11/2015 12:14:00 Supplied by www.sharenet.co.za                     
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