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BCX - Business Connexion Group Limited - Confirmation of the discontinuation of

Release Date: 30/08/2011 15:18
Code(s): BCX BCA
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BCX - Business Connexion Group Limited - Confirmation of the discontinuation of the proposed scheme and the alternative offer and results of the shareholders` meetings Business Connexion Group Limited (Incorporated in the Republic of South Africa) (Registration number 1988/005282/06) Share code: BCX ISIN: ZAE000054631 ("BCX" or "Company") "A" share code: BCA ISIN: ZAE000156154 CONFIRMATION OF THE DISCONTINUATION OF THE PROPOSED SCHEME OF ARRANGEMENT AND THE ALTERNATIVE OFFER TO CERTAIN OF THE BCX "A" ORDINARY SHAREHOLDERS AND RESULTS OF THE SHAREHOLDERS` MEETINGS 1. INTRODUCTION Ordinary shareholders of BCX ("Ordinary Shareholders") and "A" ordinary shareholders of BCX (""A" Shareholders") (collectively referred to as "Shareholders") are referred to the announcement published by BCX on Monday, 29 August 2011 ("Announcement") which provided details of BCX`s intention to discontinue the proposed scheme of arrangement ("Scheme") and alternative offer ("Alternative Offer") to certain of the "A" Shareholders. BCX proactively approached certain of the "A" Shareholders to whom the Scheme would apply ("Offeree Shareholders") and obtained irrevocable undertakings from Offeree Shareholders holding approximately 40% of the BCX "A" shares held by Offeree Shareholders, to vote against the implementation of the Scheme ("Irrevocable Undertakings"). 2. RESULTS OF THE SHAREHOLDERS` MEETINGS Shareholders are advised that the various resolutions required to be passed at the various meetings of Shareholders convened in terms of the notices contained in the circular to Shareholders dated 1 August 2011 ("Shareholders` Meetings") to approve the Scheme and the Alternative Offer, were not passed by the requisite majority of Shareholders at the relevant meetings. Accordingly, the Scheme will not be implemented by the Company and has been discontinued. BCX shall not proceed with the Alternative Offer. All resolutions, other than those relating to the Scheme and the Alternative Offer referred to above, proposed at the Shareholders` Meetings were approved by the requisite majority of Shareholders. BCX will provide Shareholders with further information regarding the New "A" Offer, as defined and referred to in the Announcement, as soon as it is practical to do so. Midrand 30 August 2011 Corporate Advisor and Transaction Sponsor to BCX in respect of the New "A" Offer One Capital Attorneys to BCX Cliffe Dekker Hofmeyr Incorporated Date: 30/08/2011 15:18:02 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.

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