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NPK - Nampak Limited - Results of the 42nd Annual General Meeting and Business Update for the First Quarter NAMPAK LIMITED (Incorporated in the Republic of South Africa) (Registration number 1968/008070/06) ISIN: ZAE000071676 Share code: NPK ("Nampak") Results of the 42nd Annual General Meeting and Business Update for the first quarter Annual General Meeting Results Nampak is pleased to announce that all the resolutions set out in the Notice of the Annual General Meeting dated 11 December 2009 were passed by the requisite number of shareholders at the 42nd Annual General Meeting held on Wednesday 3 February 2010. The special resolution will be submitted for registration at the Companies and Intellectual Property Registration Office in due course. Business Update Sales volumes in South Africa in the first quarter of the financial year were similar to last year. In Europe, demand in October and November 2009 was good but declined in December due in part to the very severe winter weather. In Africa, volumes were lower due mainly to destocking and lower demand in Nigeria. Significant progress has been made in the turnaround or exit of non-profit performing operations: - Corrugated has made a small profit for the quarter as against a significant reported loss in the previous financial year. The new Rosslyn paper mill has improved significantly and achieved 81% of the benchmark-rated output in December; - Leeds UK made a small profit as against a significant loss in the prior financial year; - The Foam business has been closed down and some of the assets have been sold; - The Redibox Durban and Cape Town operations have been sold and the Johannesburg operation is being closed; - Disaki Cores and Tubes has been sold subject to regulatory approval; and The Corrugated operation in Mocambique has been sold. The construction of the Angolan beverage can plant is progressing well and the regulatory requirements are being finalised. Although markets remain difficult, the group`s core operations are expected to perform in line with last year while improvements are expected from previously loss-making businesses. Sandton 3 February 2010 Sponsor: UBS South Africa (Pty) Limited Date: 03/02/2010 14:42:02 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.
