Posting of Circular to Shareholders Afrimat Limited Infrasors Holdings Limited Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa (Registration number: 2006/022534/06) (Registration number: 2007/002405/06) Share code: AFT ISIN: ZAE000086302 Share Code: IRA ISIN: ZAE000101507 (“Afrimat” or “the Company”) ("Infrasors") JOINT ANNOUNCEMENT - POSTING OF CIRCULAR 1. INTRODUCTION Afrimat and Infrasors shareholders are referred to the SENS announcement dated 5 March 2013, regarding Afrimat being required to make an unconditional mandatory offer (“the Offer”) to all Infrasors minority shareholders as a result of Afrimat’s acquisition of 94 171 108 Infrasors shares, representing 50.8% of the issued share capital of Infrasors. . Infrasors shareholders are hereby advised that a circular containing, inter alia, details of the Offer, a form of proxy and a form of surrender and transfer (“Circular”) is being posted to Infrasors shareholders today and will be available on the Infrasors website at www.infrasors.co.za. Infrasors Shareholders are advised to review the Circular for the terms of the Offer. 2. IMPORTANT DATES AND TIMES The important dates and times relating to the Offer (“Timetable”) are set out below. Words and expressions in the Timetable and notes thereto shall have the same meaning as assigned to them in the Circular. Mandatory offer document posted to Infrasors minorities on Monday, 22 April 2013 Mandatory offer opens at 09:00 on Monday, 22 April 2013 Finalisation date Friday, 24 May 2013 Last day to trade in Infrasors shares in order to participate in the mandatory offer Friday, 31 May 2013 Shares trade “ex” the mandatory offer Monday, 3 June 2013 Mandatory offer closes at 12:00 on Friday, 7 June 2013 Record Date to determine which shareholders may accept the Mandatory offer Friday, 7 June 2013 Results of mandatory offer to be released on SENS Monday, 10 June 2013 Final (see note 4) offer consideration credited to the offer participant’s accounts at his CSDP or stockbroker (as the case may be) in cases where the shares surrendered in terms hereof are held by such CSDP or stockbroker as nominee for the offer participant on Monday, 10 June 2013 Final (see note 4) cheques posted to or credited to the bank accounts of the offer participants (Who hold their shares in their own names) at the offer participant’s own risk, in settlement of the offer consideration (subject to receipt by the transfer secretaries of the relevant share certificates) on or about Monday, 10 June 2013 Results of the mandatory offer to be published in the press on Tuesday, 11 June 2013 Cape Town Johannesburg 22 April 2013 22 April 2013 Sponsor and Corporate Advisor to Afrimat: Bridge Sponsor to Infrasors: Capital Advisors (Pty) Limited Sasfin Capital (a division of Sasfin Bank Limited) Notes: 1. The definitions and interpretation commencing on page 6 of this circular apply mutatis mutandis to the information on salient dates and times. 2. The above dates and times are subject to amendment by the offeror. Any such amendment will be released on SENS and published in the press. 3. All times indicated above are South African times. 4. The offer consideration will be credited or posted to shareholders within six business days of receipt of the acceptance of the offer by the transfer secretaries. 5. Share certificates may not be dematerialised or rematerialised between, Monday 3 June 2013 and Friday, 7 June 2013, both days inclusive. Date: 22/04/2013 05:13:00 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.