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EXX - Exxaro Resources Limited - Exxaro cash offer to African Iron Limited shareholders and listed option holders closed Exxaro Resources Limited (Incorporated in the Republic of South Africa) (Registration number 2000/011076/06) JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY ("Exxaro") EXXARO CASH OFFER TO AFRICAN IRON LIMITED SHAREHOLDERS AND LISTED OPTION HOLDERS CLOSED On 15 February 2012, Exxaro (JSE code: EXX) announced that the cash takeover offers made by its wholly owned subsidiary, Exxaro Australia Iron Investments Pty Ltd ("Exxaro Australia"), for all the shares and listed options of African Iron Limited (ASX code: AKI) ("African Iron") (the "Offers") had become unconditional in accordance with all their terms. On 27 February 2012, Equatorial Resources Ltd ("Equatorial") accepted the Offers and Exxaro announced that as a result Exxaro Australia would increase the consideration of the Offers to $0.57 per African Iron share and $0.37 per African Iron listed option. The offer period was also extended by another 14 days until 4pm Perth time on Monday 12 March 2012. Exxaro is pleased to announce that the offer period has now officially closed and that it has received acceptances in respect of approximately 99.75% of African Iron`s issued shares and 98.70% of African Iron`s listed options. Exxaro has also received 74.02% acceptances of the separate offers made for the unlisted options. Exxaro now has a relevant interest in more than 90% of African Iron shares and has commenced the process to compulsorily acquire the remaining shares and listed options in African Iron and to delist African Iron from the Australian Securities Exchange. African Iron`s securities will be suspended from quotation on the Australian Securities Exchange from close of trading on 15 March 2012. The total purchase consideration is $312,95 million (R2 585 million). African Iron is an Australian domiciled iron ore development company working on the exploration and evaluation of the Mayoko and Ngoubou-Ngoubou projects in the Republic of Congo in central West Africa. For further information on African Iron, please visit www.africanironlimited.com. About Exxaro Exxaro is a diversified South African-based mining company, listed on the JSE Limited ("JSE") (JSE: EXX) with a market capitalisation of approximately R73 billion. Exxaro mines, extracts and processes a range of minerals and metals, including coal, mineral sands and base metals primarily in South Africa, Australia and China. As one of the largest South African coal producers, with capacity now approaching 48Mtpa and the third-largest global producer of mineral sands products, Exxaro is a significant participant in the coal and mineral sands markets. Exxaro has a 20% interest in the Sishen Iron Ore Company, a subsidiary of JSE listed Kumba Iron Ore Limited, which operates the Sishen and Thabazimbi mines in South Africa. Further information on Exxaro can be found at www.exxaro.com For enquiries: Wim de Klerk Finance Director Tel: +27 12 307 4848 Email: wim.deklerk@exxaro.com Sole financial advisor to Exxaro Investec Bank (Australia) Limited and Investec Bank Limited Legal advisors Gilbert + Tobin Transaction sponsor Investec Bank Limited Sponsor to Exxaro Deutsche Securities (SA) (Proprietary) Limited 15 March 2012 Date: 15/03/2012 12:00:02 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.
