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MZR - Mazor Group Limited - Acquisition of a 50% interest in a business conducted by Hulamin Extrusions (Pty) Limited and withdrawal of cautionary announcement MAZOR GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2007/017221/06) Share code: MZR ISIN: ZAE000109823 ("Mazor" or "the Company") ACQUISITION OF A 50% INTEREST IN A BUSINESS CONDUCTED BY HULAMIN EXTRUSIONS (PTY) LIMITED AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Introduction Shareholders are referred to the detailed terms announcement dated 6 April 2010 and subsequent renewal of cautionary announcement dated 20 May 2010 relating to the acquisition by Mazor of a 50% interest in a business conducted by Hulamin Extrusions (Pty) Limited ("Hulamin Extrusions") ("the acquisition"). Further to the previously published announcements, the pro forma financial effects of the acquisition are disclosed below. Pro forma financial effects The unaudited pro forma financial effects of the acquisition, as set out below, are based on Mazor`s audited results for the year ended 28 February 2010 and the management accounts of Hulamin Extrusions for the year ended 31 December 2009. Mazor`s directors are satisfied with the quality of such management accounts. The unaudited pro forma financial effects are presented for illustrative purposes only, to provide information on the impact of the acquisition. Due to the nature of the unaudited pro forma financial effects, they may not give a fair representation of Mazor`s financial position and the results of its operations after the acquisition. Mazor`s directors are responsible for the preparation of the unaudited pro forma financial information. It has been assumed for purposes of the pro forma financial information that the acquisition took place with effect from 1 March 2009 for income statement purposes and 28 February 2010 for balance sheet purposes. The unaudited pro forma financial effects are prepared in a manner consistent in all respects with the accounting policies of Mazor. Before the After the Percentage acquisition acquisition change Earnings per share (Cents) 29.7 35.1 18.0 Diluted earnings per share 29.7 35.1 18.0 (Cents) Headline earnings per share 29.8 35.1 18.0 (Cents) Diluted headline earnings 29.8 35.1 18.0 per share (Cents) Net asset value per share 193.6 201.9 4.3 (Cents) Net tangible asset value 186.9 195.1 4.4 per share (Cents) Total number of shares in 121 014 053 121 014 053 issue Weighted average number of 113 652 302 113 652 302 ordinary shares Diluted weighted average 113 652 302 113 652 302 number of ordinary shares Notes: The "Before the acquisition" financial information is based on Mazor`s published results for the year ended 28 February 2010. The "After the acquisition" earnings/diluted earnings/headline earnings/diluted headline earnings per share , have taken the following into account: the reduction of interest earned at an average rate of 6% per annum on the cash utilised by Mazor to fund the acquisition; and an increase in earnings/headline earnings of R10 million in relation to the recognition of the sale of an intangible asset, which is viewed as a non-recurring increase in earnings/headline earnings. The "After the acquisition" net asset value and net tangible asset value per share have taken the following into account: the inclusion of an investment in a JV amounting to R22.6 million; an increase in retained income totalling R10 million as a result of the recognition of the sale of an intangible asset; and a reduction in cash reserves utilised to fund the acquisition amounting to R12.6 million. Withdrawal of cautionary announcement As the financial effects of the acquisition have been announced, shareholders are no longer required to exercise caution when dealing in Mazor shares and accordingly, the cautionary announcement released by Mazor on 20 May 2010 is hereby withdrawn. Cape Town 3 June 2010 Sponsor: Bridge Capital Advisors (Pty) Limited Date: 03/06/2010 15:02:01 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.
