FWD - Freeworld Coatings Limited - Joint announcement by Freeworld and

FWD - Freeworld Coatings Limited - Joint announcement by Freeworld and          
Kansai in relation to Results of General Meeting                                
Freeworld Coatings Limited                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 2007/021624/06)                                            
Share code: FWD                                                                 
ISIN: ZAE000109450                                                              
("Freeworld" or "the Company")                                                  
Kansai Paint Co., Ltd.                                                          
(Incorporated in Japan)                                                         
(Registration number 1402-01-001093)                                            
TSE share code: 4613                                                            
("Kansai")                                                                      
JOINT ANNOUNCEMENT BY FREEWORLD AND KANSAI IN RELATION TO RESULTS OF            
GENERAL MEETING                                                                 
1.   INTRODUCTION                                                               
Freeworld shareholders ("Shareholders") are referred to the joint               
announcement by Freeworld and Kansai released on SENS on 17 October 2011        
and published in the press on 18 October 2011 regarding the proposal that       
Freeworld delist its ordinary shares ("Freeworld Shares") from the exchange     
operated by the JSE Limited ("Delisting"), and a firm intention by Kansai       
to acquire all the issued shares of Freeworld not already owned by Kansai,      
save for the Freeworld Shares in respect of which a Retained Investment         
Election has been made, by way of a scheme of arrangement ("Scheme").           
Definitions found on pages 8 to 12 of the circular relating to the              
Delisting and the Scheme ("Circular"), posted to Shareholders on 25 October     
2011, have been used in this announcement. Copies of the Circular can be        
found at http://www.freeworldcoatings.com/ and                                  
http://ww.kansai.co.jp/global_site/index.html.                                  
2.   RESULTS OF THE GENERAL MEETING                                             
At the general meeting of the Shareholders held on Wednesday, 23 November       
2011, all of the special and ordinary resolutions authorising the Scheme        
and the Delisting, being (i) the special resolution in terms of section         
115(2)(a) of the Companies Act, 2008 authorising the implementation of the      
Scheme and (ii) the ordinary resolution in terms of paragraph 1.14(a) of        
the JSE Limited Listings Requirements authorising the Delisting, were           
approved by the requisite majority of Shareholders.                             
3.   IMPORTANT DATES AND TIMES                                                  
The important dates and times relating to the Delisting and the Scheme as       
set out in the Circular have not changed.                                       
Paulshof                                                                        
23 November 2011                                                                
Enquiries:                                                                      
Newman Lowther & Associates                                                     
Ben Lowther, +27 (0)21 673 7000                                                 
Freeworld                                                                       
Eleanor Chamberlain, +27 (0)11 549 8009                                         
Financial advisors to Freeworld and Kansai                                      
Newman Lowther & Associates (Pty) Ltd                                           
Attorneys to Freeworld and Kansai                                               
Bowman Gilfillan Inc.                                                           
JSE Sponsor                                                                     
RAND MERCHANT BANK (a division of FirstRand Bank Limited)                       
Date: 23/11/2011 16:24:00 Supplied by www.sharenet.co.za                     
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