Trading statement and business update Astrapak Limited (Incorporated in the Republic of South Africa) (Registration number: 1995/009169/06) Share Code: APK ISIN: ZAE000096962 ("Astrapak" or “the company” or “the Group”) Trading statement and business update In terms of the Listings Requirements of the JSE, a company is required to publish a trading statement as soon as the company is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the corresponding reporting period of the previous year ("comparative period"). The financial information on which this trading statement is based, has not been reviewed, audited, or reported on by the Group's auditors. The Board therefore advises shareholders of Astrapak that: - Headline Earnings per share (“HEPS”) is expected to be between 52% and 72% lower than that reported in the comparative period, which will result in an anticipated HEPS of between 7.0 cents and 12.0 cents (2012: 24.9 cents). HEPS from continuing operations are expected to be between 64% and 84 % lower than that reported in the comparative period, which will result in an anticipated HEPS of between 8.9 cents and 20.0 cents (2012: 55.5 cents) and the HEPS loss from discontinued operations are expected to be between 54% and 74% lower than that reported in the comparative period, which will result in an anticipated HEPS loss of between 8.0 cents and 14.1 cents (2012: 30.6 cents HEPS loss); - Earnings per share (“EPS”) is expected to be between 425% and 445% higher than that reported in the comparative period, which will result in an anticipated EPS of between 108.3 cents and 115.0 cents (2012: 33.3 cents EPS loss) . EPS from continuing operations is expected to be between 8 247% and 8 267% higher than that reported in the comparative period, which will result in an anticipated EPS of between 125.2 cents and 125.5 cents (2012: 1.5 cents) and the EPS loss from discontinued operations is expected to be between 48% and 68% lower than that reported in the comparative period, which will result in an anticipated EPS loss of between 11.0 cents and 18.0 cents (2012: 34.8 cents EPS loss). - Net asset value per share (“NAVPS”) is expected to be between 20% and 30% higher than that reported for the comparative period, which will result in an anticipated NAVPS of between 822.7 cents and 891.2 cents (2012: 685.6 cents); In addition to difficult trading conditions experienced, the financial results were influenced by the following items: - The fire at East Rand Plastics and the associated write-offs, revenue and profit impact and insurance related items discussed below; - All assets impacted by the fire have been fully impaired and all destroyed and damaged stock, increased costs and loss of profits relating to the period 8 January 2013 to 28 February 2013 have been fully accounted for. Based on the admission of liability received from the insurers we have raised certain provisions for receipts against these items; - In line with the strategic intent of Astrapak further rationalisation of customers, markets, production equipment and facilities has been affected within the Company resulting in further impairments of the existing asset base and increased costs. Insurance update Shareholders are referred to the announcement released on SENS on 8 January 2013 relating to the fire that occurred at the Company’s East Rand Plastics operation on 8 January 2013. Whilst all possible mitigating actions – which include outsourcing, inter-group production and the re- commissioning of certain mothballed equipment – have been implemented by the business, unfortunately force majeure had to be declared in terms of certain customers and markets which the company could no longer service satisfactorily. Due to the consequent reduction in turnover the cost base of the business has also been reduced. The insurance assessment process has now been completed and all the relevant insurers have admitted liability in respect of the claim. Interim payments will now be made to the Company on a regular basis. It is Astrapak’s intent to utilise the insurance proceeds in respect of plant replacement to acquire new plant to replace the lost revenue and margin stream as and when the Company identifies suitable market opportunities to achieve this objective. This investment will be in addition to that budgeted in the ordinary course of business. The Company wishes to thank all stakeholders for their continued understanding and support and extends a special thank you to the management and employees of East Rand Plastics for their efforts during this time. Re-organisation update Astrapak has now completed the re-organisation of its operations into divisional units. This will allow Astrapak to benefit from its national footprint, with realisable synergies across customers, technologies, procurement and supply chains. Management structures have been aligned with the new operational structure and the strategic initiatives of the Company. The recruitment process has also been completed and most executive positions have been filled. The final results for the financial year ended 28 February 2013 are expected to be released on or about 7 May 2013. Denver 10 April 2013 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 10/04/2013 12:51:00 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. 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