ERBACON DEBT RESTRUCTURING PLAN: RESULTS OF RIGHTS OFFER Erbacon Investment Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2007/014490/06) Share code: ERB ISIN: ZAE000111571 (“Erbacon” or “the Company”) ERBACON DEBT RESTRUCTURING PLAN: RESULTS OF ERBACON RIGHTS OFFER, CONVERSION OF THE LOAN ACCOUNTS (BY WAY OF THE RIGHTS OFFER) AND CONVERSION OF THE PREFERENCE SHARES RESULTS OF ERBACON RIGHTS OFFER 1. Shareholders are referred to the finalisation announcement released on SENS 20 July 2012 and the circular to shareholders dated 6 August 2012 relating to the Erbacon rights offer (forming part of the Debt Restructuring Plan) in terms of which 390 240 594 new Ordinary Shares of no par value (“the Rights Offer Shares”) were offered to Shareholders at a subscription price of R0.40 per Rights Offer Share and in the ratio of 2 Rights Offer Shares for every 1 ordinary share held on the record date of the Rights Offer (“the Rights Offer”). 2. The results of the Rights Offer, which closed on Friday, 24 August 2012, are as follows: Number of rights % of rights offer offer shares shares Rights offer shares 390 240 594 100% available for subscription Total rights 253 847 711 65.05% exercised Rights not taken up 136 392 883 34.95% 3. The Rights Offer did not include the right for shareholders to apply for excess Rights Offer Shares. 4. With respect to Erbacon shareholders who have subscribed for the Rights Offer: 4.1 share certificates will be posted to the holders of certificated Erbacon shares on or about, today, 27 August 2012; and 4.2 the Central Securities Depository Participant (“CSDP”) or broker accounts of holders of dematerialised Erbacon shares will be credited with the Rights Offer Shares and debited with any payments due, today, 27 August 2012. CONVERSION OF THE LOAN ACCOUNTS 5. As communicated to shareholders, part of the Debt Restructuring Plan included the conversion of the outstanding loans due to certain loan providers (“Loan Providers”) by way of the Rights Offer in terms whereof, inter alia, the Loan Providers have set off the total outstanding loan amount, together with all accrued interest thereon, against the subscription price payable by the Loan Providers in terms of the Rights Offer (“Conversion of the Loan Accounts”). 6. The total outstanding loan amount, together with all accrued interest thereon calculated, by including the changes to the prime interest rate, amounted to R100 598 029.20 (“the Total Outstanding Amount”) as at the closing date of the Rights Offer. 7. Accordingly, 251 495 073 Rights Offer Shares have been issued to the Loan Providers in terms of the Rights Offer in settlement of the Total Outstanding Amount. CONVERSION OF THE PREFERENCE SHARES 8. As communicated to shareholders and forming part of the Debt Restructuring Plan, shareholders are advised that the conversion of Medu Capital’s preference shares to 283 122 000 Ordinary Shares at an implied share price of R0.40 per Ordinary Share (“the Preference Share Conversion”) has now become unconditional following the successful implementation of the Rights Offer. 9. Accordingly, 283 122 000 Ordinary Shares have been issued to Medu Capital under the specific authority granted by shareholders and in pursuance of the implementation of the Preference Share Conversion. SUCCESSFUL IMPLEMENTATION OF THE DEBT RESTRUCTURING PLAN Further to the above, shareholders are advised that the Debt Restructuring Plan has now been successfully implemented and there are no outstanding matters to be dealt with. Midrand 27 August 2012 Designated Advisor: PSG Capital Proprietary Limited Date: 27/08/2012 05:30:00 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.