ABK - African Brick - Results of Scheme Meeting

ABK - African Brick - Results of Scheme Meeting                                 
AFRICAN BRICK CENTRE LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
Registration Number:  1999/006214/06)                                           
Share Code:  ABK    ISIN:  ZAE000105169                                         
("African Brick" or "the Company" or "the Group")                               
RESULTS OF SCHEME MEETING                                                       
African Brick shareholders ("Shareholders") are referred to the firm intention  
announcement published on the Securities Exchange News Service ("SENS") of the  
JSE Limited ("JSE") on Thursday, 3 November 2011, and to the circular to        
Shareholders dated 8 November 2011 ("the Circular"), detailing the offer from   
Yakani Infraco Proprietary Limited ("Yakani") to acquire the remaining issued   
share capital of African Brick not held by African Brick`s subsidiary and       
Yakani, by way of a scheme of arrangement ("the Scheme") in terms of section 114
of the Companies Act, No. 71 of 2008, as amended, proposed by the board of      
directors of African Brick between African Brick and its Shareholders.          
The Scheme, if implemented, will result in Yakani acquiring the remaining       
203,906,755 ordinary shares (the "Scheme Shares") in the issued share capital of
African Brick and the listing of the Company`s securities terminated on the JSE.
In terms of the Scheme, each African Brick shareholder will be entitled to 4.6  
cents per Scheme Share, which is equivalent to an aggregate cash price of       
R9,379,710.73 based on the number of Scheme Shares.                             
Shareholders are hereby advised that the Scheme has been approved by the        
requisite majority of Shareholders present and voting, in person or by proxy, at
the Shareholders` meeting held earlier today.                                   
African Brick further advises that the Company has not received notice from any 
Shareholder objecting to the special resolution to approve the Scheme, and as   
such no Shareholder intends to exercise his rights in terms of section 164 of   
the Companies Act.                                                              
Shareholders should note that the implementation of the Scheme remains          
conditional upon the fulfilment of certain conditions precedent as detailed in  
the Circular. Further announcements regarding same will be released on SENS in  
due course.                                                                     
Johannesburg                                                                    
6 December 2011                                                                 
Corporate advisor and Designated Advisor to African Brick                       
Grindrod Bank Limited                                                           
Independent expert to African Brick                                             
BDO Corporate Finance Proprietary Limited                                       
Corporate law advisor to Yakani                                                 
Taback and Associates Proprietary Limited                                       
Date: 06/12/2011 12:10:16 Supplied by www.sharenet.co.za                     
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