PPC LIMITED - Results of General Meeting of PPC Shareholders Relating to PPCS Proposed Restructuring of a Component of its First

Results of General Meeting of PPC Shareholders Relating to PPC’S Proposed Restructuring of a
Component of its First

PPC Ltd
Incorporated in the Republic of South Africa
Registration number 1892/000667/06
JSE share code: PPC
ZSE share code: PPC
JSE ISIN ZAE000170049
(“PPC” or the “Company”)

RESULTS OF GENERAL MEETING OF PPC SHAREHOLDERS RELATING TO PPC’S PROPOSED RESTRUCTURING OF A
COMPONENT OF ITS FIRST BBBEE TRANSACTION IMPLEMENTED IN 2008

1. Introduction
PPC Shareholders (Shareholders) are referred to the Company announcement released
on the Stock Exchange News Service (SENS) on 7 February 2014, wherein PPC advised
its Shareholders of the proposed broad-based black economic empowerment (BBBEE)
transaction, the highlights of which are:

*   the unwind of a component of PPC’s 2008 BBBEE transaction (Unwind);
*   a new BBBEE transaction involving the issue of PPC Ordinary Shares to PPC
    Phakamani Trust; and
*   the creation of a new class of cumulative, non-participating perpetual
    preference shares (Preference Shares) to be used to raise capital to fund the
    Unwind,
collectively referred to as the Transaction.

2. Results of General Meeting
Shareholders are advised that, at the general meeting of Shareholders held at the
Company’s head office on Tuesday, 18 March 2014, all ordinary and special
resolutions proposed which include, inter alia;
*    the creation and issue of Preference Shares;
*    the specific repurchase and cancellation of the Unwind shares;
*    the amendment of the Memorandum of Incorporation of the Company;
*    the issue of PPC ordinary shares to PPC Phakamani Trust, in relation to a new
     BBBEE transaction, were approved by the requisite majority shareholders of PPC.

The special resolutions will be lodged with the Companies and Intellectual Property
Commission office.

Sandton
18 March 2014

For enquiries:
Jaco Snyman (Group Company Secretary)
PPC Ltd
Telephone +27 11 386 9000
Email jaco.snyman@ppc.co.za

Financial adviser:
Regiments Capital (Proprietary) Limited
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Legal adviser:
Bowman Gilfillan Incorporated
Tax adviser:
Cliffe Dekker Hofmeyr Incorporated
Preference Shares: Lead Arranger and Joint Book-runner
The Standard Bank of South Africa Limited
Preference Shares: Co-Arranger and Joint Book-runner
Rand Merchant Bank (a division of FirstRand Bank Limited)
Independent expert:
KPMG Services (Proprietary) Limited
Independent Reporting accountants:
Deloitte & Touche

Date: 18/03/2014 01:04:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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