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HOSKEN CONSOLIDATED INVESTMENTS LTD - Results of the pro-rata repurchase and excess allocations

Release Date: 17/09/2012 15:15
Code(s): HCI NIV     PDF:  
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Results of the pro-rata repurchase and excess allocations

         NIVEUS INVESTMENTS LIMITED                      HOSKEN CONSOLIDATED INVESTMENTS LIMITED
    (Incorporated in the Republic of South Africa)          (Incorporated in the Republic of South Africa)
        Registration number: 1996/005744/06                     Registration number: 1973/007111/06
                   Share code: NIV                                         Share code: HCI
                ISIN: ZAE000169553                                      ISIN: ZAE000003257
               (“Niveus Investments”)                                           (“HCI”)


                  RESULTS OF THE PRO-RATA REPURCHASE AND DISTRIBUTION AND
                           THE ALLOCATION OF EXCESS APPLICATIONS


Shareholders of both HCI and Niveus Investments are referred to the announcements dated 30 July 2012 and
7 September 2012, as well as the abridged pre-listing statement dated 31 August 2012, in connection with the
listing of Niveus Investments and the pro-rata offer, by HCI, to holders of ordinary shares in HCI to receive their
pro-rata portion of 45% of the shares in Niveus Investments by tendering one HCI ordinary share (“HCI Share”)
for repurchase by HCI in exchange for the distribution in specie by HCI of 11.95191 Niveus Investments
ordinary shares (“Niveus Investments Shares”) per HCI Share repurchased (collectively the “Pro-rata
Repurchase and Distribution”).

In terms of the Pro-rata Repurchase and Distribution, HCI shareholders could elect to tender one HCI Share for
repurchase by HCI in exchange for every 11.95191 Niveus Investments Shares to be distributed, up to 3.07%
of their HCI shareholding (“Pro-rata Entitlement”). In addition HCI shareholders may elect to tender such
additional HCI Shares for repurchase by HCI in terms of excess applications provided that HCI shall not
repurchase more than 3.07% of its entire issued share capital, net of treasury shares (“Excess Applications”).
In aggregate, a maximum number of 4 033 129 HCI Shares are available for repurchase, resulting in a total of
48 203 589 Niveus Investments Shares being made available for distribution.

Shareholders of both companies are advised that the election to participate in the Pro-rata Repurchase and
Distribution closed at 12:00 on Friday, 14 September (“Closing Date”) and attracted elections in respect of
1 749 380 HCI Shares in terms of the Pro-rata Entitlement and Excess Applications in respect of 33 302 481
HCI Shares. As the Pro-rata Repurchase and Distribution was in respect of a maximum number of HCI
Shares, being 4 033 129 HCI Shares, all Excess Applications have been allocated on an equitable pro rata
basis. As a result of the rounding of the Excess Applications, HCI has now repurchased 4 033 116 HCI Shares
(being 3.07% of its entire issued share capital, net of treasury shares), and has distributed 48 203 447 of its
Niveus Investments Shares and accordingly its holding in Niveus Investments has now decreased to 58 915
640 Niveus Investments Shares (55.0%).

The Niveus Investments Shares due to dematerialized HCI shareholders and/or certificated HCI shareholders
who elected to participate in terms of the Pro-rata Entitlement, will be transferred (that is, credited to the
relevant account) and/or posted, at their risk, to their CSDP or broker on Monday, 17 September 2012.

Any Niveus Investments Shares due to dematerialized HCI shareholders and/or certificated HCI shareholders
in terms of Excess Applications will be transferred (that is, credited to the relevant account) and/or posted, at
their risk, to their CDSP or broker on or within three business days from the Closing Date.


Cape Town
17 September 2012

                  Investment bank                                              Sponsor
             Investec Corporate Finance                                  Investec Bank Limited

                 Legal advisers                                  Reporting accountants and auditors
          Edward Nathan Sonnenbergs Inc                                       PKF Inc




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