BRIMSTONE INVESTMENT CORPORATION LD - Fulfilment of conditions precedent regarding the participation by Brimstone in a BEE consortium

Fulfilment of conditions precedent regarding the participation by Brimstone in a BEE consortium

Brimstone Investment Corporation Limited
(Incorporated in the Republic of South Africa)
Registration number 1995/010442/06
Share Code: BRT ISIN: ZAE000015277
Share Code: BRN ISIN: ZAE000015285
("Brimstone")


FULFILMENT OF CONDITIONS PRECEDENT REGARDING THE PARTICIPATION BY
BRIMSTONE IN A BLACK ECONOMIC EMPOWERMENT (“BEE”) CONSORTIUM TO INVEST IN
GRINDROD LIMITED (“GRINDROD”)

Shareholders are referred to the announcements dated 8 April 2014 and 18 June 2014; and are
advised that the establishment of a consortium special purpose vehicle (the “Consortium SPV”),
comprising, inter alia, Brimstone, Calulo Investments Proprietary Limited and Solethu Investments
Proprietary Limited as indirect and direct ordinary shareholders, for the purpose of concluding an
aggregate R1.6 billion equity investment in Grindrod (the “BEE Transaction”) has been completed.
The Consortium SPV, in which Brimstone has an indirect shareholding of 59.2%, has subscribed for
64 million Grindrod ordinary shares at a price of R25.00 per share, resulting in the Consortium SPV
having a shareholding in Grindrod of 8.4%. Brimstone shareholders are informed that all the
conditions precedent have been fulfilled and the BEE Transaction has now become unconditional.


29 July 2014
Cape Town

Investment Bank and Sponsor
Nedbank Capital

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