Disposal of the business of Hilfort Plastics Cape Town - APK /APKP Astrapak Limited (Incorporated in the Republic of South Africa) (Registration number: 1995/009169/06) Share Code: APK ISIN: ZAE000096962 Share Code: APKP ISIN: ZAE000087201 ("Astrapak") DISPOSAL OF THE BUSINESS OF HILFORT PLASTICS CAPE TOWN 1. INTRODUCTION Shareholders are hereby advised that Astrapak has entered into an agreement on the 12th of June 2014 with Boxmore Plastics SA (Proprietary) Limited ("the Purchaser"), in terms of which, if successfully implemented, Astrapak will dispose of its Hilfort Plastics Cape Town business ("Hilfort Cape Town") to the Purchaser ("the Transaction"). 2. THE BUSINESS OF HILFORT CAPE TOWN Hilfort Cape Town operates in and around Cape Town and manufactures and sells predominantly PET rigid plastic containers (bottles and jars) and accompanying closures to a wide range of markets including the food, beverage, wine and chemical industries. 3. THE RATIONALE FOR THE DISPOSAL The PET market remains highly competitive, the fundamentals continue changing rapidly and to remain sustainable the single most important factor is operational scale. The trend of customers moving in-house to blow their own bottles and consolidating filling facilities in terms of centres of excellence continues to further reduce the scope of volume available to converters. This is more pronounced in the Western Cape where the industry is relatively small in relation to the Gauteng region. Hilfort Cape Town has been impacted significantly by these factors and has underperformed relative to Astrapak's other Rigid operations for some time. The Transaction will ensure continuity of supply to the customer base in the Western Cape region and will allow for the Purchaser to consolidate this business into their Western Cape operation, thereby enhancing and securing scale and the sustainability of their own operation in the region. The Transaction will enhance the financial performance of Astrapak following the implementation. 4. CATEGORISATION OF TRANSACTION The Transaction falls below the requirements for a "category transaction" in terms of the Listings Requirements of the JSE Limited ("JSE") and this SENS announcement is therefore voluntary. 5. PURCHASE CONSIDERATION The purchase consideration payable by the Purchaser to Astrapak shall be discharged by the Purchaser by paying the purchase consideration in cash into the Astrapak's nominated bank account by the effective date as outlined below. 6. EFFECTIVE DATE In terms of the sale agreement, the effective date of the Transaction will be the latter of 1 July 2014 and the second business day following the date upon which the last of the suspensive conditions are fulfilled. 7. SUSPENSIVE CONDITIONS The Transaction is still subject to a number of suspensive conditions, including the requisite approvals of any regulatory authorities which are required to implement the Transaction as contemplated. 8. OTHER RELEVANT INFORMATION Save for information as set out in this announcement, the Purchaser and Astrapak have provided warranties and indemnities to each other that are standard to a transaction of this nature. Johannesburg 18 June 2014 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 18/06/2014 04:34:00 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.