PPC LIMITED - Revised Results of General Meeting

Revised Results of General Meeting

 PPC Ltd
(Incorporated in the Republic of South Africa)
 Registration Number 1892/000667/06
 JSE and ZSE share Code: PPC
 ISIN: ZAE000170049
 (“PPC”)

REVISED RESULTS OF GENERAL MEETING

PPC shareholders (“Shareholders”) are referred to the announcement released on the
Stock Exchange News Service of the JSE Limited (“SENS”)on 6 December 2016 regarding
a General Meeting of Shareholders (“General Meeting”) in terms of which
Shareholders were requested to approve resolutions relating to the amendments to a
component of PPC’s 2008 Broad-Based Black Economic Empowerment Transaction and, as
a separate independent transaction, the additional share allocations (“Proposed
Transactions”).

Arising from enquiries from certain shareholders and following extensive engagement
with its transfer secretaries, Computershare Investor Services Proprietary Limited
(“Computershare”), the board of directors of PPC has become aware that some of the
proxies submitted in respect of the General Meeting were inadvertently not taken
into account by the Computershare scrutineers when determining the outcome of the
shareholder vote on the various resolutions at the General Meeting. Computershare
has communicated its sincere apologies to the board of directors of PPC for this
unfortunate but inadvertent error.

In light of the above, shareholders were erroneously advised that all the
resolutions set out in the Notice of a General Meeting were passed by the requisite
majority of shareholders present and represented by proxy at the General Meeting
held on Monday, 5 December 2016. This SENS announcement serves to rectify this
error.

Details of the revised results of the voting which have been independently
confirmed by Computershare are as follows:


Resolution   Resolution                    Number of      Percentage        For#        Against#      Abstained*
 Number                                 shares voted    of shares in
                                                              issue*           %               %              %

                                                                  %

    1        Ordinary resolution        1,092,736,118     67.25578       99.69198         0.30802        0.02103
             Issue of CSG Maturity
             Date Subscription Shares
             to the CSG Funding SPV

    2        Ordinary resolution        1,092,735,818     67.25576       99.69198         0.30802        0.02105
             Issue of SBP Maturity
             Date Subscription Shares
             to the SBP Funding SPV

    3        Ordinary resolution        1,084,222,483     66.73178       99.85636         0.14364        0.54503
             Approval of the Proposed
             Amendments to the 2008
             B-BBEE Transaction
             Agreements

    4        Ordinary resolution        1,092,745,019     67.25633       67.12697        32.87303        0.02049
             Issue of CSG Additional
             Shares to the CSG
             Funding SPV

   5         Ordinary resolution        1,091,050,611     67.15204       67.23119        32.76881        0.12477
             Issue of SBP Additional
             Shares to the SBP
             Funding SPV


*Based on 1,624,746,762 PPC ordinary shares in issue at the date of the General
Meeting.
#Based on the total number of shares voted at the General Meeting.

The revised results which reflect ordinary resolutions 4 and 5 as having failed to
be approved, do not impact on the validity of ordinary resolutions 1, 2 and 3 which
remain duly approved as stated in the original SENS announcement published on 6
December 2016, and will be implemented in accordance with their terms as set out in
the Circular.

Johannesburg
8 December 2016

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

Legal advisors
Bowmans

Tax advisors
Cliffe Dekker Hofmeyr

Independent reporting accountants
Deloitte & Touche

Company Sponsor
Merrill Lynch South Africa (Pty) Limited

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