BEG/BEGP2 - Beige Holdings Limited - Request for a ruling on the comparable

BEG/BEGP2 - Beige Holdings Limited - Request for a ruling on the comparable     
offer submitted to the takeover regulation panel ("TRP") and cautionary         
announcement in respect of the preference shares                                
BEIGE HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/006871/06)                                            
("Beige" or "the Company")                                                      
ISIN Code: ZAE000034161       Share code: BEG                                   
ISIN Code: ZAE000154787       Share code: BEGP2                                 
REQUEST FOR A RULING ON THE COMPARABLE OFFER SUBMITTED TO THE TAKEOVER          
REGULATION PANEL ("TRP") AND CAUTIONARY ANNOUNCEMENT IN RESPECT OF THE          
PREFERENCE SHARES                                                               
Shareholders are referred to the announcements dated 30 December 2011 and 27    
January 2012 relating to the mandatory offer to be made to Beige shareholders   
following the acquisition by The Lion Match Company (Pty) Ltd ("Lion Match")    
of 36.45% of the voting rights (excluding ordinary treasury shares) in Beige.   
In order to address Beige`s concerns as to whether the R1.28 offer              
consideration to be offered to preference shareholders constitutes a            
comparable offer as is required in terms of section 125 of the Companies Act,   
No. 71 of 2008 (the "Act") and Regulation 87 of the regulations promulgated     
in terms of the Act (the "Regulations"), the Board of Beige has requested the   
TRP to provide the company with a ruling as to how the comparable offer to      
shareholders should be calculated.                                              
In the interests of natural justice and in compliance with the provisions of    
the Promotion of Administrative Justice Act, No. 3 of 2000, the TRP has         
requested Lion Match to furnish it with its response to Beige`s request by 29   
February 2012.                                                                  
Shareholders will be advised as to the outcome of the ruling by way of a SENS   
announcement.  In the interim, preference shareholders are advised to           
exercise caution when dealing in the company`s preference securities.           
Johannesburg                                                                    
20 February 2012                                                                
Designated Advisor                                                              
Arcay Moela Sponsors (Pty) Ltd                                                  
Date: 20/02/2012 10:33:00 Supplied by www.sharenet.co.za                     
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