Change Statement and Notice of Annual General Meeting LABAT AFRICA LIMITED Incorporated in the Republic of South Africa (Registration number 1986/001616/06) JSE code: LAB ISIN: ZAE000018354 (“Labat” or “the company” or “the group”) CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING Change statement The audited group annual financial statements contains certain adjustments that were made when compared to the reviewed condensed preliminary consolidated financial results which were published on SENS on 3rd June 2013, which is detailed below. During the course of finalising the audit for the year ended 28 February 2013, it was identified that cash flows relating to South African Revenue Services statutory levies was incorrectly disclosed under Net Flow from Operating Activities instead of Net Flow from Financing Activities. This has now been adjusted for. The effect of the adjustment has been disclosed below: CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Reviewed Adjustment Audited 28 February 2013 28 February 2013 R’000 R’000 R’000 Net flow from operating activities (3 329) (1 887) (5 215) Net flow from financing activities (1 904) 1 887 (18) In addition, there was a reallocation between loans from directors and shareholders and provisions in the current and prior years, which has been presented in the annual report as extracted below. EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION Current Liabilities 2013 2012 2011 (Restated) (Restated) Loans from directors and shareholders 7 751 022 8 414 231 10 840 467 Provisions 5 847 468 3 578 981 1 242 483 The above reallocations had no impact on the Condensed Consolidated Statement of Financial Position, Condensed Consolidated Statement of Comprehensive Income, Condensed Consolidated Statement of Changes in Equity, Earnings and Headline Earnings per Share and NAV of the group. Notice of Annual General Meeting Notice is hereby given that the annual general meeting of ordinary shareholders will be held in the boardroom, Labat 23 Kroton Avenue, Weltevreden Park, Johannesburg, at 15:00 on Friday, 29 November 2013, to transact the business as stated in the notice of annual general meeting forming part of the integrated annual report. Record Date The record date for posting of the integrated annual report is Friday, 30 August 2013. The record date which shareholders of the company must be registered as such in the company’s securities register in order to attend and vote at the meeting is Friday, 22 November 2013. The last day to trade in order to be eligible to vote at the annual general meeting will be Friday, 15 November 2013. Johannesburg 2 September 2013 Sponsor: Arcay Moela Sponsors Proprietary Limited Date: 02/09/2013 01:58:00 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.