Joint finalisation announcement: fulfilment or waiver (as applicable) of scheme conditions CONTROL INSTRUMENTS GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1964/003987/06) Share Code: CNL ISIN: ZAE000001665 (“Control Instruments”) TORRE INDUSTRIAL HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 2012/144604/06) Share Code: TOR ISIN: ZAE000169322 (“Torre”) JOINT FINALISATION ANNOUNCEMENT: FULFILMENT OR WAIVER (AS APPLICABLE) OF SCHEME CONDITIONS Shareholders are referred to the joint announcement released on SENS on 7 April 2014 which advised shareholders that the special resolution to approve the Scheme and the ordinary resolution in connection with the Scheme, as detailed in the circular to Control Instruments dated 6 March 2014 (the “Circular”) were passed at the CI General Meeting on the same day by the requisite majority of Shareholders. Words and expressions in this announcement shall have the same meanings as assigned to them in the Circular. Shareholders are hereby advised that all the remaining Scheme Conditions have either been fulfilled or validly waived (as applicable) and the Scheme is now unconditional. The important dates and times in respect of the Scheme, as published in the Circular, are set out below. Action 2014 Finalisation announcement released on SENS Wednesday, 23 April Finalisation announcement published in the South Thursday, 24 African press April Application for the termination of the listing of Thursday, 24 all the Shares from the Main Board of the JSE April expected to be lodged Last day to trade in Shares in order to be recorded Friday, 9 May on the Register on the Scheme Record Date (the “Scheme Last Day to Trade”) Date of the suspension of listing of Shares on the Monday, 12 May JSE Scheme Record Date on which Shareholders must be Friday, 16 May recorded in the Register to receive the Scheme Consideration Operative Date of the Scheme Monday, 19 May Date of payment/posting of Scheme Consideration to Monday, 19 May Scheme Participants who hold Certificated Shares (if the Form of Surrender and Transfer and Documents of Title are received on or prior to 12:00 on the Scheme Record Date) Date of updating the accounts of Scheme Monday, 19 May Participants who hold Dematerialised Shares held at their CSDP or broker Termination of listing of Shares at commencement of Tuesday, 20 May trade on the JSE Notes: 1. All times given above are local times in South Africa. 2. The Shareholders will, provided they hold or acquire Shares on or prior to the Scheme Last Day to Trade, participate in the Scheme (i.e. sell their Shares to Torre in accordance with the Scheme for the Scheme Consideration). 3. No dematerialisation or rematerialisation of Shares may take place from the commencement of business on the Business Day following the Scheme Last Day to Trade. Johannesburg 23 April 2014 Sponsor to Control Instruments: Investec Bank Limited Legal Adviser to Control Instruments: Bowman Gilfillan Incorporated Corporate Advisor to Torre: AfrAsia Corporate Finance Proprietary Limited Designated Adviser to Torre: PSG Capital Proprietary Limited Legal Advisor to Torre: DLA Cliffe Dekker Hofmeyr Incorporated Date: 23/04/2014 05:27:00 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.