Results of annual general meeting of debenture holders FOORD COMPASS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003591/06) ISIN: ZAE000054466 JSE code: FCPD (“Foord Compass” or ”the company”) RESULTS OF ANNUAL GENERAL MEETING OF DEBENTURE HOLDERS The board of directors advises that at the Annual General Meeting of Foord Compass, held at 8 Forest Mews, Forest Drive, Pinelands today, the special resolution proposed at the meeting was duly passed by the requisite majority of votes. Debenture holders are referred to the company’s SENS announcement released on 4 April 2013 disclosing a net attributable asset value per debenture (“NAAV”) of 861.1 cents as at 31 March 2013. That statement noted that the debenture NAAV had increased by 6.2% during the first quarter of 2013. The preliminary financial statements published on SENS on 19 January 2013 and the annual financial statements published to the company’s website on 26 March 2013 noted that the company had, in January 2013, made a private placement of debentures for cash to the value of R1.1 billion with selected institutions. Debentures were allotted in February 2013, after the final debenture interest payment had been made to existing debenture holders. After the placement and allotment, the company’s debenture capital increased from R1.3 billion to R2.4 billion. Cash received from the private placement together with portfolio changes effected after the year-end have altered the effective portfolio composition. The most recently available effective asset allocation of the portfolio is as follows (31 December 2012 reflected as comparative information): Domestic Foreign Total Current 31.12.2012 Current 31.12.2012 Current 31.12.2012 Equities 31% 62% 37% 32% 68% 94% Listed property 3% 1% 0% 1% 3% 2% Government bonds -11% -16% -5% -9% -16% -25% Corporate debt 1% 3% 8% 19% 9% 22% Commodities 0% 0% 1% 1% 1% 1% Effective cash 32% -2% 3% 8% 35% 6% 56% 48% 44% 52% 100% 100% After a relatively buoyant first quarter for equities in general, the net long exposure to equity derivative contracts reported at 31 December 2013 was substantially reduced after the March close-out. As a result, the effective exposure to SA equities has declined materially relative to the reported position at the financial year-end. The lower net equity exposure remains a short-term tactical measure as equities are still the asset class of choice. Other material changes to the portfolio include a reduction in the short government bond position in both SA and global bonds. The portfolio manager also took advantage of higher prices in the offshore corporate debt market to realise gains in “distressed” debt instruments originally purchased in 2008/2009. As a result of these changes, the cash holdings of the portfolio have increased from an effective 6% at the financial year-end to 35%. Further information will be released in July with the publication of the company’s Interim Financial Statements in respect of the six months ending 30 June 2013. Cape Town 18 April 2013 Sponsor One Capital Date: 18/04/2013 01:00:00 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.