AFRIMAT LIMITED - Posting of Circular to Shareholders

Posting of Circular to Shareholders

  Afrimat Limited                                                                   Infrasors Holdings Limited

  Incorporated in the Republic of South Africa                    Incorporated in the Republic of South Africa

  (Registration number: 2006/022534/06)                               (Registration number: 2007/002405/06)

  Share code: AFT       ISIN: ZAE000086302                           Share Code: IRA     ISIN: ZAE000101507

  (“Afrimat” or “the Company”)                                                                     ("Infrasors")




  JOINT ANNOUNCEMENT - POSTING OF CIRCULAR


1. INTRODUCTION

  Afrimat and Infrasors shareholders are referred to the SENS announcement dated 5 March 2013,
  regarding Afrimat being required to make an unconditional mandatory offer (“the Offer”) to all Infrasors
  minority shareholders as a result of Afrimat’s acquisition of 94 171 108 Infrasors shares, representing
  50.8% of the issued share capital of Infrasors. .

  Infrasors shareholders are hereby advised that a circular containing, inter alia, details of the Offer, a form
  of proxy and a form of surrender and transfer (“Circular”) is being posted to Infrasors shareholders today
  and will be available on the Infrasors website at www.infrasors.co.za. Infrasors Shareholders are advised
  to review the Circular for the terms of the Offer.

2. IMPORTANT DATES AND TIMES

  The important dates and times relating to the Offer (“Timetable”) are set out below. Words and
  expressions in the Timetable and notes thereto shall have the same meaning as assigned to them in the
  Circular.

  Mandatory offer document posted to Infrasors minorities on                              Monday, 22 April 2013


  Mandatory offer opens at 09:00 on                                                       Monday, 22 April 2013


  Finalisation date                                                                         Friday, 24 May 2013


  Last day to trade in Infrasors shares in order to participate
  in the mandatory offer                                                                    Friday, 31 May 2013


  Shares trade “ex” the mandatory offer                                                     Monday, 3 June 2013


  Mandatory offer closes at 12:00 on                                                        Friday, 7 June 2013
  Record Date to determine which shareholders may accept the
  Mandatory offer                                                                           Friday, 7 June 2013


  Results of mandatory offer to be released on SENS                                        Monday, 10 June 2013


  Final (see note 4) offer consideration credited to the offer participant’s
  accounts at his CSDP or stockbroker (as the case may be) in cases where
  the shares surrendered in terms hereof are held by such CSDP or stockbroker
  as nominee for the offer participant on                                                  Monday, 10 June 2013


  Final (see note 4) cheques posted to or credited to the bank accounts of the
  offer participants (Who hold their shares in their own names) at the offer
  participant’s own risk, in settlement of the offer consideration
  (subject to receipt by the transfer secretaries of the relevant share certificates) on
  or about                                                                                 Monday, 10 June 2013




Results of the mandatory offer to be published in the press on                             Tuesday, 11 June 2013




Cape Town                                                                                             Johannesburg

22 April 2013                                                                                         22 April 2013

Sponsor and Corporate Advisor to Afrimat: Bridge                                              Sponsor to Infrasors:
Capital Advisors (Pty) Limited                                    Sasfin Capital (a division of Sasfin Bank Limited)



Notes:

1.   The definitions and interpretation commencing on page 6 of this circular apply mutatis mutandis to
     the information on salient dates and times.

2.   The above dates and times are subject to amendment by the offeror. Any such amendment will be
     released on SENS and published in the press.

3.   All times indicated above are South African times.

4.   The offer consideration will be credited or posted to shareholders within six business days of receipt
     of the acceptance of the offer by the transfer secretaries.

5.   Share certificates may not be dematerialised or rematerialised between, Monday 3 June 2013 and
     Friday, 7 June 2013, both days inclusive.

Date: 22/04/2013 05:13:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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