PLATFIELDS LIMITED - Voluntary Quarterly Update on the Suspension of the Company

Voluntary Quarterly Update on the Suspension of the Company

PLATFIELDS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2002/005851/06)
Share code: PLL ISIN: ZAE000151825
(“Platfields” or “the Company”)

VOLUNTARY QUARTERLY UPDATE ON THE SUSPENSION OF THE COMPANY

The directors of Platfields advise that the Company remains suspended due to the
requirement to finalise and publish interim results for the six months ended 31 August
2013 and 31 August 2014, the years ended 28 February 2014 and 28 February 2015.
Shareholders are referred to the previous announcements published on SENS, the last
of which was released on 9 September 2015.

Further to the above announcements, as well as the announcement dated
4 December 2015, the directors of Platfields have been advised that an order for the
provisional liquidation of the Company was granted by the High Court of South Africa,
Gauteng Local Division, Johannesburg on 30 October 2015 with a return date for a
final liquidation order on 14 December 2015.

The directors are currently investigating the circumstances surrounding the application
as they were not made aware of it. They will also be holding discussions with the
Consortium, from whom an offer to subscribe for shares had been received, in order to
determine the way forward.

Shareholders will be kept appraised of developments in due course.

Johannesburg
10 December 2015

Sponsor
Arbor Capital Sponsors Proprietary Limited

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