METAIR INVESTMENTS LIMITED - Update on the Squeeze Out Transaction

Update on the Squeeze Out Transaction

Metair Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1948/031013/06
Share code: MTA
ISIN: ZAE000090692
(“Metair”)

UPDATE ON THE SQUEEZE-OUT TRANSACTION

Shareholders of Metair (“Shareholders”) are referred to the announcement published by
Metair on 12 March 2014 on the JSE Limited’s Stock Exchange News Service (“SENS”)
regarding the closing of a mandatory tender offer (“MTO”) to the minority shareholders
of Mutlu Aku ve Malzemeleri Sanayii Anonim Sirketi ("Mutlu Aku") (“MTO
Transaction”) and on 14 July 2014 regarding the commencement of the implementation
of a squeeze out transaction, pursuant to which Metair Aku Holding A.S (“Metair Aku”)
shall acquire all the remaining shares in Mutlu Aku (“Squeeze Out”) and on
18 December 2014 regarding the legislative changes and delay on the Squeeze Out
transaction.

According to the applicable legislation, Mutlu Aku accepted applications from its
minority shareholders willing to exercise their sell rights between 12 November 2014 and
12 February 2015 (inclusive). As of 12 February 2015, Mutlu Aku received sell right
applications for TL 1.361.123 nominal shares. With the conclusion of this sell right
process, Metair Aku became the owner of shares (directly and indirectly) with TL
56.143.409,87 nominal value which corresponds 99,0184% of the share capital of Mutlu
Aku. Remaining shares with TL 556.590,13 nominal value will be subject to the squeeze
out transaction.

Mutlu Aku made applications to the Capital Markets Board of Turkey on
16 February 2015 to implement the Squeeze Out. Upon the conclusion of the squeeze out
transaction Metair Aku shall acquire all the remaining shares in Mutlu Aku it does not
already own and Mutlu Aku will become a wholly-owned subsidiary of Metair.



Johannesburg
19 February 2015

Sponsor: One Capital

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