PPC LIMITED - Results of General Meeting

Results of General Meeting

 PPC Ltd
(Incorporated in the Republic of South Africa)
 Registration Number 1892/000667/06
 JSE and ZSE share Code: PPC
 ISIN: ZAE000170049
 (“PPC”)

RESULTS OF GENERAL MEETING

PPC shareholders (“Shareholders”) are referred to the announcement
released on the Stock Exchange News Service of the JSE Limited on 28
October 2016 regarding the posting of the circular to Shareholders,
including the Notice of a General Meeting of Shareholders (“General
Meeting”) in terms of which Shareholders were requested to approve the
proposed resolutions relating to the proposed amendments to a component
of PPC’s 2008 Broad-Based Black Economic Empowerment Transaction and,
as a separate independent transaction, the additional share allocations
(“Proposed Transactions”).

Shareholders are advised that all the resolutions set out in the Notice
of a General Meeting were passed by the requisite majority of
shareholders present and represented by proxy at the General Meeting
held on Monday, 5 December 2016.

Details of the results of the voting are as follows:

 Resolution   Resolution              Number of   Percentage    For#   Against#   Abstained*
                                         shares    of shares
   Number                                                          %          %            %
                                          voted    in issue*
                                                           %

     1        Ordinary resolution   800 766 741        49.29   99.58       0.42         0.02
              Issue of CSG
              Maturity Date
              Subscription Shares
              to the CSG Funding
              SPV

     2        Ordinary resolution   800 766 441        49.29    99.6       0.42         0.02
              Issue of SBP
              Maturity Date
              Subscription Shares
              to the SBP Funding
              SPV

     3        Ordinary resolution   792 253 107        48.76    99.8       0.20         0.60
              Approval of the
              Proposed Amendments
              to the 2008 B-BBEE
              Transaction
              Agreements
     4       Ordinary resolution   800 775 643       49.29    76.04      23.96    0.02
             Issue of CSG
             Additional Shares
             to the CSG Funding
             SPV

     5       Ordinary resolution   799 081 235       49.18    76.20      23.80    0.13
             Issue of SBP
             Additional Shares
             to the SBP Funding
             SPV


*Based on 1 624 746 762 PPC ordinary shares in issue at the date of the General
Meeting.
#Based on the total number of shares voted at the General Meeting.

Johannesburg

6 December 2016

Investment Bank and Transaction Sponsor
The Standard Bank of South Africa Limited


Legal advisors
Bowmans


Tax advisors
Cliffe Dekker Hofmeyr


Independent reporting accountants
Deloitte & Touche


Company Sponsor
Merrill Lynch South Africa (Pty) Limited

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