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CSP - ChemSpec - Media Release CHEMICAL SPECIALITIES LIMITED Incorporated in the Republic of South Africa Registration number 2005/039947/06 Share code: CSP ISIN: ZAE000109427 ("ChemSpec" or "the Company") MEDIA RELEASE ChemSpec is pleased to announce that it`s 1 for 1 rights issue at 40 cents was fully subscribed. The total of the rights offer shares exercised as well as excess rights offer shares applied for represented 115% of shares available. The rights offer, together with the specific issue previously completed, has resulted in:- 1 Shareholder loans being capitalised. 2. The IDC taking up 150 million shares and introducing R60 million of share capital. 3. Other shareholders having the opportunity to and taking up shares pari passu with the shareholders who had originally introduced loan capital and the IDC. The net result is that ChemSpec has had fresh capital of R261 million introduced to the business which has allowed it to settle short term debt and provide sufficient cash and a good financial platform for future growth. CEO, Bruce Mackinnon says "combined with our better trading activities this strong financial position makes ChemSpec a sustainable company with exciting growth prospects." -ends- 21 November 2011 Corporate and Designated Adviser Grindrod Bank Limited Date: 21/11/2011 17:13:01 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.
