NEW CORPCAPITAL LIMITED - Corrected pro forma financial effects for the acquisition of Sable Platinum Holdings and repurchase offer

Corrected pro forma financial effects for the acquisition of Sable Platinum Holdings and repurchase offer

NEW CORPCAPITAL LIMITED
Registration number: 2001/006539/06
Share code: NCA ISIN: ZAE000067765
(“New Corpcapital” or “the Company”)

CORRECTED PRO FORMA FINANCIAL EFFECTS FOR THE ACQUISITION OF SABLE PLATINUM HOLDINGS (PROPRIETARY) LIMITED AND REPURCHASE OFFER

Shareholders are referred to the joint announcement dated 19 July 2012 issued by New Corpcapital and Sable Platinum Holdings (Proprietary)
Limited (“Sable”) released over SENS and published in the press on 20 July 2012 in respect of inter alia the proposed acquisition by the Company
of all the issued shares in Sable from the shareholders of Sable (the “Vendors”) (the “Proposed Acquisition”) and the general pro rata offer to all
shareholders of New Corpcapital to buy 50% of their shares in New Corpcapital for a purchase price of 120 cents per share (the “Repurchase
Offer”) (the “Initial Announcement”).

Terms defined in the Initial Announcement bear the same meaning in this announcement.

The financial effects of the Repurchase Offer (after the Proposed Acquisition) included errors regarding earnings per share, diluted earnings per
share, headline earnings per share and diluted headline earnings per share, each of which reflected “(10.07)” but should have reflected “(11.06)” and
consequently that the percentage change of each of those items which reflected “(0.60%)” should have reflected “(10.49%)”.

Set out below is the corrected pro forma financial effects of the Proposed Acquisition and the Repurchase Offer on New Corpcapital.

The unaudited pro forma statement of comprehensive income (“Income Statement”) and pro forma statement of financial position (“Balance
Sheet”) are the responsibility of the board of directors of New Corpcapital. They have been prepared for illustrative purposes only, in order to
provide information about the financial position and results of New Corpcapital, assuming the Proposed Acquisition and the Repurchase Offer had
been implemented on 1 September 2011, in respect of the Income Statement and 29 February 2012 in respect of the Balance Sheet. Due to its
nature, the pro forma financial information may not give a fair reflection of New Corpcapital’s financial position and results of operations
subsequent to the Proposed Acquisition and the Repurchase Offer. The detailed unaudited pro forma financial information will be set out in the
circular to be sent to New Corpcapital shareholders in due course. The financial effects, however, are summarised below. The independent
reporting accountant’s limited assurance report on the unaudited pro forma financial information will be included in the circular.

The table below sets outs the pro forma financial effects of the Proposed Acquisition and the Repurchase Offer on New Corpcapital. It has been
assumed in the pro forma financial effects set out below that:

-     the Corporate Restructure Actions have been implemented (including the ten for one consolidation); and
-     all the Consideration Shares (including the Escrow Shares) are issued to the Vendors.


                                                       Before Proposed             After Proposed
                                                      Acquisition (cents)       Acquisition (cents)               % Change
Basic (loss) / earnings per share                                   (4.74)                 (10.01)               (111.18%)
Diluted (loss) / earnings per share                                 (4.74)                 (10.01)               (111.18%)
Headline (loss) / earnings per share                                (4.74)                 (10.01)               (111.18%)
Diluted headline (loss) / earnings per share                        (4.74)                 (10.01)               (111.18%)

Net asset value per share                                          111.07                    29.32                (73.60%)
Tangible net asset value per share                                 111.07                    28.32                (74.50%)

                                                      Before Repurchase
                                                    Offer, After Proposed        After Repurchase
                                                      Acquisition (cents)            Offer (cents)                % Change
Basic (loss) / earnings per share                                 (10.01)                  (11.06)                (10.49%)
Diluted (loss) / earnings per share                               (10.01)                  (11.06)                (10.49%)
Headline (loss) / earnings per share                              (10.01)                  (11.06)                (10.49%)
Diluted headline (loss) / earnings per share                      (10.01)                  (11.06)                (10.49%)

Net asset value per share                                           29.32                    19.87                (32.23%)
Tangible net asset value per share                                  28.32                    18.76                (33.76%)

20 July 2012



Sponsor
Java Capital

Auditors and Reporting Accountants
PKF

Date: 20/07/2012 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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