INTERWASTE HOLDINGS LIMITED - Specific Issue of Shares for Cash Ammendment to the Terms

Specific Issue of Shares for Cash – Ammendment to the Terms

Interwaste Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/037223/06)
Share code: IWE
ISIN: ZAE000097903
(“Interwaste” or “the Company”)

SPECIFIC ISSUE OF SHARES FOR CASH – AMMENDMENT TO THE TERMS

Interwaste shareholders are referred to the announcement published by the Company on
SENS on 11 June 2013 wherein they were advised that the Company had successfully
concluded a capital raising exercise in terms of which the company had placed, subject to
shareholder approval in respect of the specific issue of shares for cash component, 66 666
667 new Interwaste shares, raising R50 million in equity capital (the “Share Placement”). In
terms of the specific issue of shares for cash component of the Share Placement, 25
286 466 shares were to be issued to non-public shareholders, as defined in the JSE Listings
Requirements (“Listings Requirements”), at 75 cents per share, of which 3 050 000 shares
were to be issued to related parties as defined in the Listings Requirements (“the Related
Party Issue”). The issue of the 3 050 000 shares to related parties at 75 cents per share
requires a fairness opinion and as a result of the immaterial amounts involved, the cost of
the opinion would exceed the related benefit. Accordingly, by agreement with the related
parties, Interwaste has amended the terms of the Related Party Issue and these shares will
be issued at a price of 79.4 cents per share, which is equivalent to the 30 trading day volume
weighted average price up to and including 7 June 2013.


Germiston

24 June 2013



Designated Advisor

Grindrod Bank Limited

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