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MKL - Makalani - Fulfilment of conditions precedent MAKALANI HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 2005/000726/06 Share code: MKL ISIN: ZAE000066700 ("Makalani" or "the Company") FULFILMENT OF CONDITIONS PRECEDENT Makalani linked unitholders ("Unitholders") are advised that the special resolutions relating to the specific offer to Unitholders and subsequent delisting ("the transaction"), as detailed in the circular that was despatched to Unitholders on 9 April 2010, have been registered by the Companies and Intellectual Property Registration Office. Accordingly, all suspensive conditions to the transaction have now been fulfilled. Unitholders are reminded of the following salient dates and times relating to the transaction. 2010 Last date to trade in order to participate in the Friday 21 May specific offer is Makalani linked units suspended from trading on Monday 24 May the JSE Limited on Form headed "Form of election (acceptance and non acceptance) and surrender" (to be completed by certificated Unitholders only) and documents of title to be received by the transfer secretaries by no later than 12:00 on the record date Record date for the specific offer on Friday 28 May Specific offer closes at 12:00 (midday) on Friday 28 May Results of specific offer released on SENS on Monday 31 May Dematerialised Unitholders will have their Monday 31 May accounts credited with the cash consideration on Certificated Unitholders will have the cash Monday 31 May consideration posted to them on Results of the specific offer published in the Tuesday 1 June South African press on Makalani linked units delisted from the JSE at Tuesday 1 June commencement of trade on Notes: 1) All times shown are South African local times. 2) Makalani linked units may not be dematerialised after Friday 21 May 2010. 3) Dematerialised Unitholders are required to notify their duly appointed CSDP/broker of their acceptance or non acceptance of the offer, in the manner and time stipulated in the custody agreement governing the relationship between the Unitholder and his/her CSDP/broker. Unitholders are reminded that the default position if they do not take action will be acceptance of the offer in respect of 100% of their Makalani units. 4) Certificated Unitholders are required to complete and return the form of election and surrender to the transfer secretaries in accordance with the instructions contained therein. Unitholders are reminded that the default position if they do not take action will be acceptance of the offer in respect of 100% of their Makalani units. Illovo 13 May 2010 Merchant bank and sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Legal advisor Edward Nathan Sonnenbergs Inc Independent sponsor Deloitte and Touche Sponsor Services (Proprietary) Limited Date: 13/05/2010 16:36:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
