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RBX - Raubex Group Limited - Results of Annual General Meeting RAUBEX GROUP LIMITED (Previously Lexpub 49 Investments Limited) (Incorporated in the Republic of South Africa) (Registration number 2006/023666/06) JSE Share code: RBX ISIN: ZAE000093183 Results of Annual General Meeting Raubex shareholders are advised that at the Annual General Meeting of members held on Friday 3 October 2008, all resolutions as proposed in the Notice of the Annual General Meeting were approved by the requisite majority of members. 86% of the issued share capital was represented. The special resolution will be lodged with the registrar for registration in due course. At the Annual General Meeting, the chairman, Collin Matjila, made the following address: Raubex has had yet another very successful year marked by significant increases in revenues and earnings supported by strong organic growth and the conclusion of five major value-enhancing acquisitions. Since becoming a public company, we have showed our ability to deliver good organic growth across our divisions and enter into significant M&A activities to acquire businesses that are financially and operationally enhancing whilst providing the required cultural fit. It`s also worth noting that the share incentive scheme put in place for key staff, excluding executive directors, is proving to be an effective tool to address staff retention and enhance motivation levels. At last year`s annual general meeting, the shareholders authorised the directors to issue shares for cash. Earlier this year, the company successfully placed 10 396 829 ordinary shares equating to 6.41% of the Company`s issued share capital with institutional investors raising R405.5 million, before expenses, in the process. The proceeds of this placement were utilised to fund the following acquisitions which have now been successfully integrated and performing in-line with expectations. Space Construction (R50 million) Thaba Bosiu & Zamori Construction (R100 million) B & E International (R513 million) Queenstown & Aliwal Quarries (R34 million) Bonn Plant Hire & Akasia Road Surfacing (R117 million) The addition of these businesses has increased our capacity, geographical footprint and demonstrated our determination to position ourselves as a sizeable industry player with the skills to continue taking full advantage of the growing demand for our line of work nationwide. The directors will continue to proactively identify opportunities within our prescribed criteria for the various divisions of the Group. In August, we announced that the South African National Roads Agency Limited (SANRAL) awarded Raubex three major contracts for a combined value of R1.147bn which will see the Raubex Construction and Roadmac divisions carry out the work in Gauteng, Western Cape and Mpumalanga. The largest contract, with a value of R719 million, involves the upgrading of the R21 between the Olifantsfontein and Hans Strydom interchanges. This contract forms part of SANRAL`s Gauteng Freeway Improvement Project which is aimed at improving the freeway network ahead of and beyond 2010. As demonstrated by our trading statement published on 25 September 2008, business prospects remain strong and we will continue to grow our order book with attractive and lucrative projects. This is supported by the Government`s commitment to large capital expenditure programmes over the medium term. More specifically, improvement projects on major roads, plans to upgrade various airports around the country and Public Private Partnership opportunities have added to the strong basic maintenance and rehabilitation pipeline already present. Internationally, Raubex`s activities remain small and we continue to focus on Zambia. The pipeline in Zambia and neighbouring countries is good and Raubex will maintain a cautious growth approach whilst we gain valuable experience. Finally, I would like to thank our investors for their support over the past year and look forward to another exciting year ahead both financially and operationally." ENQUIRIES Raubex Group Limited +27 12 665 3226 Francois Diedrechsen, Commercial and Financial Director College Hill +27 11 447 3030 Fred Cornet +27 83 307 8286 Hayley Crane +27 72 758 1677 www.raubex.co.za Johannesburg 3 October 2008 Investment Bank and Sponsor Investec Bank Limited Date: 03/10/2008 13:13:02 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.
