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SAPPI LIMITED - Disposal by Sappi of Usutu Forest Products Company Limited

Release Date: 16/07/2014 14:49
Code(s): SAP     PDF:  
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Disposal by Sappi of Usutu Forest Products Company Limited

Sappi Limited
(Registration number 1936/008963/06)
(Incorporated in the Republic of South Africa)
Share code: SAP
ISIN: ZAE000006284
 (“Sappi” or the “Company”)

DISPOSAL BY SAPPI OF USUTU FOREST PRODUCTS COMPANY LIMITED

With reference to the SENS announcement of 01 July 2013 announcing the intended
disposal by Sappi of Usutu Forest Products Company Limited to Montigny Investments
Limited, Sappi can confirm that all conditions precedent to the successful conclusion of the
transaction have been met as of 16 July 2014.

The purchase consideration to be paid by Montigny to Sappi of ZAR1,000,000,000 (one
billion Rand) will be used for general corporate purposes and will reduce Sappi's net debt.

Commenting on the sale, Sappi Limited Chief Executive Officer Steve Binnie said “We are
extremely happy to have been able to sell our Usutu business to Montigny. The transaction
reflects the change in Sappi’s strategic focus towards high growth segments such as
specialised cellulose and packaging. The proceeds of the sale will contribute to paying down
debt.”

Johannesburg

16 July 2014

Sponsor: UBS (Pty) Ltd

Date: 16/07/2014 02:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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