SOUTHERN ELECTRICITY COMPANY LTD - Finalisation Announcement

Finalisation Announcement

Southern Electricity Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/006894/06)
Share code: SLO & ISIN: ZAE000041919
("SELCo" or "the company")


FINALISATION ANNOUNCEMENT

1.   INTRODUCTION

     SELCo shareholders are referred to the firm intention
     announcement made by Rural Maintenance Proprietary Limited
     (“Rural Maintenance”) on 25 September 2013, as well as to the
     circular issued to SELCo shareholders on 30 October 2013
     (“Circular”), regarding the terms on which Rural Maintenance
     intended acquiring the entire issued ordinary share capital
     of SELCo, excluding the ordinary shares held by Resource
     Management   Integration  Group   Limited,  ("REMIG")(“Scheme
     Shares”) by way of a scheme of arrangement in terms of
     section 114 of the Companies Act 71 of 2008, as amended
     (“Companies Act”), (“Scheme”) (“Proposed Transaction”).



2.   CONDITIONS PRECEDENT

     Shareholders are advised that all the conditions precedent to
     the Scheme, as detailed in the Circular, have now been
     fulfilled and that the Scheme is now effective.

3.   SALIENT DATES AND TIMES


     The remaining salient dates and times relating to the
     finalisation and implementation of the Scheme (“Timetable”)
     are set out hereunder for shareholders’ information. Words
     and expressions in the Timetable and notes thereto shall have
     the same meaning as assigned to them in the Circular.


                                                      2013
   Finalisation announcement released on SENS       Tuesday,        17
                                                    December
   Last day to trade in SELCo shares in order
   to be recorded in the register to receive         Tuesday,       24
   the scheme consideration                          December
   Suspension of listing of SELCo shares on the      Friday,        27
   JSE at commencement of trading on                 December
                                                    
                                                     2014
   Scheme consideration record date, being the
   date on which scheme participants must be
   recorded in the register to receive the           Friday,        3
   scheme consideration, by close of trading on      January
   Operative date of the Scheme                      Monday,        6
                                                     January
   Scheme consideration paid/posted to
   certificated scheme participants (if
   documents of title are received on or prior
   to 12:00 on the scheme consideration record       Monday,        6
   date) on or about                                 January
  
   Dematerialised scheme participants’ accounts
   held at their CSDP or broker credited with        Monday,        6
   the scheme consideration on or about              January
  
   Termination of listing of SELCo shares on
   the JSE at the commencement of trading on or      Tuesday,       7
   about                                             January


   Notes:
1. All times given are local times in South Africa.
2. Share certificates may not be dematerialised after Tuesday, 24
   December 2013.


Pretoria
17 December 2013

Sponsor: Grindrod Bank Limited

Legal advisor to SELCo: Webber Wentzel

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