PPC LIMITED - Ppc Increases Stake In Ethiopia To 51%

Ppc Increases Stake In Ethiopia To 51%

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE000170049
("PPC" or the "Company")

PPC INCREASES STAKE IN ETHIOPIA TO 51%

PPC is pleased to advise of the successful acquisition of the Industrial
Development Corporation’s 20% stake in Ethiopian based Habesha Cement Share
Company (“HCSCo”) for a purchase consideration of USD 13 million
(“Acquisition”). PPC’s initial 27% stake in HCSCo, acquired in July 2012,
now rises to 51% while the balance of the shareholding in HCSCo is held by
over 16 000 local shareholders.

HCSCo has begun the construction of a 1.4 million tonnes per annum facility
35 km north-west from the bustling city of Addis Ababa. Project costs for
this factory are approximately $135 million and commissioning of the plant
is anticipated in 2016.

“We are very excited about our increased investment in Ethiopia; a country
with a population of 91 million people that is set to reach 100 million by
2018 and having a growth rate that is expected to remain above 8% in the
medium term.

“This Acquisition will provide further momentum to our growth strategy on
the continent. PPC has, in addition to the HCSCo project, signed EPC
contracts for projects in Rwanda, the Democratic Republic of the Congo and
Zimbabwe; all with construction underway,” commented Bheki Sibiya,
Executive Chairman.

Financial close of this Acquisition is expected in December 2014
once all conditions have been satisfied.

Sandton
5 November 2014

Sponsor
Merrill Lynch South Africa (Pty) Ltd

PPC:
Azola Lowan
Tel: +27 (0) 11 386 9000
Azola.Lowan@ppc.co.za

Financial Communications Advisor:
Instinctif Partners
Morne Reinders
Mobile : +27 (82) 480 4541
Morne.reinders@instinctif.com

Louise Fortuin
Mobile: +27 (71) 605 4294
Louise.fortuin@instinctif.com

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