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AFP - Alexander Forbes Preference Share Investments Limited - Notice of special interest payment on unsecured debentures Alexander Forbes Preference Share Investments Limited Incorporated in the Republic of South Africa) Registration number 2006/031561/06 Share code: AFP & ISIN number: ZAE000098067 ("AF Pref" or "the group") NOTICE OF SPECIAL INTEREST PAYMENT ON UNSECURED DEBENTURES ("DEBENTURES") On 3 January 2012 Linked Unitholders were informed that all conditions precedent pertaining to the acquisition by the Marsh Group of certain of Alexander Forbes` interests in South Africa, Namibia and Botswana (comprising AFRS, iConnect, AFCT Admin and AfriNet Risk Services (collectively "AF Risk Services Africa")) (the "First Closing")were fulfilled with effect from 1 January 2012. The fulfilments of conditions precedent pertaining to the remaining entities are currently underway. On 29 May 2012 all conditions precedent pertaining to the acquisition by the Marsh Group of Alexander Forbes Uganda ("Second Closing") were fulfilled with immediate effect. A portion of the unpaid net proceeds from the First Closing and the net proceeds from the Second Closing were offered and accepted by the holders of the High Yield Term Loan. AF Pref holds 26.5% of the High Yield Term Loan. As a result, notice is hereby given of a Special Interest Payment number 4 as determined in accordance with the terms and conditions attached to the Debentures. Special Interest Payment number : 4 Cents per Linked Unit : 5.59 Last day to trade cum the interest : Friday 15 June 2012 Shares commence trading "ex" : Monday 18 June 2012 distribution Record date : Friday 22 June 2012 Payment date : Monday 25 June 2012 Debenture certificates for the unsecured debentures may not be dematerialised or re-materialised between Monday, 18 June 2012 and Friday, 22 June 2012, both days inclusive. In addition, over the past year, there have been further increases in the regulatory capital requirements of both the short term and long term insurance entities as well as the liquid asset requirements for entities regulated in terms of the Financial Advisory and Intermediary Services Act 2002. This resulted in an increase in regulatory liquidity requirements and therefore a further increase in restricted cash to be held by various entities in the group. As a result the scheduled interest payment on the High Yield Term Loan due on 18 June 2012 will be deferred. 1 June 2012 Sandton Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 01/06/2012 16:23:01 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.
