PPC LIMITED - Results of General Meeting

Results of General Meeting

PPC Ltd
Registration Number 1892/000667/06
JSE & ZSE Code: PPC
ISIN: ZAE000170049
(“PPC” or the “Company”)

RESULTS OF GENERAL MEETING

PPC shareholders (“Shareholders”) are referred to the announcement
released on the Stock Exchange News Service of the JSE Limited on 1
July 2016 regarding the posting of the circular to Shareholders,
including the Notice of a General Meeting of Shareholders (“General
Meeting”) in terms of which Shareholders were requested to approve
the proposed resolutions for the purposes of implementing a proposed
rights offer.

Shareholders are 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 at the General Meeting held
today, 1 August 2016.

Details of the results of the voting are as follows:


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

                                                          %

1            Special resolution 1:         446 328 169    71             99.56   0.44       0.04
             Increase of authorised
             shares of the Company

2            Special resolution 2:         446 168 408    71             99.54   0.46       0.06
             Amendment of the   MOI


3            Special resolution 3:         446 327 868    71             99.49   0.51       0.04
             Authorisation for the
             ability to issue 30% or
             more of the Company’s
             Ordinary Shares for the
             purposes of implementing
             the Proposed Rights Offer

4            Ordinary resolution 1:        446 204 737    71             99.29   0.71       0.06
             Placing control of the
             authorised but unissued
             shares under the control of
             the Directors for the
             purposes of implementing
             the Proposed Rights Offer

5            Ordinary resolution 2:        445 975 090    71             99.49   0.51       0.1
             Waiver of the mandatory
             offer provisions of the
           Companies Act


*Based on 624 746 762 total issued ordinary shares at the date of the General
Meeting.
#Based on 624 746 762 total issued ordinary shares and in relation to the total
number of shares voted at the General Meeting.

“This is a pleasing result for PPC; it places us firmly on a path to resolving our
immediate liquidity challenges, enabling us to pursue our corporate strategy ”
commented Darryll Castle, CEO of PPC.

“PPC is fundamentally strong and profitable with a solid operating base. I am
confident that we have the appropriate plans in place to navigate the current
economic landscape by driving cost efficiencies and leveraging our capabilities to
achieve operational excellence. We are on track to complete our sizeable projects
in the DRC, Ethiopia and Zimbabwe which, in the medium-term, will start to
contribute to PPC’s revenue stream ” explains Castle.

Johannesburg
1 August 2016

Sole Global Co-ordinator, Joint Bookrunner and Joint Transaction
Sponsor
The Standard Bank of South Africa Limited

Joint Bookrunner and Joint Transaction Sponsor
Nedbank Limited

Joint Bookrunners
ABSA Bank Limited
Rand Merchant Bank Limited

Legal Advisor to PPC as to South African Law
Bowman Gilfillan Inc.

Legal Advisor to PPC as to US and English Law
Freshfields Bruckhaus Deringer LLP

Legal Advisor to the Joint Bookrunners as to South African Law
Webber Wentzel

Legal Advisor to the Joint Bookrunners as to US and English Law
Linklaters
Financial Advisor and Company Sponsor
Merrill Lynch

PPC:
Azola Lowan
Tel: +27 (0) 11 386 9000
Azola.Lowan@ppc.co.za

Financial Communications Advisor:
Instinctif Partners

Morne Reinders
Mobile: +27 (0) 82 325 1810
Morne.Reinders@instinctif.com

Louise Fortuin
Mobile: +27 (0) 71 605 4294
Louise.Fortuin@instinctif.com

Date: 01/08/2016 03:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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