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Non-Executive Directors award of ordinary shares
Afrimat Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022534/06)
Code: AFT ISIN: ZAE 000086302
("Afrimat" or “the Company”)
NON-EXECUTIVE DIRECTORS AWARD OF ORDINARY SHARES
1. Details of the award
Shareholders are referred to special resolution number four passed by shareholders at the
annual general meeting held on 6 August 2014 in respect of the award of ordinary shares for
no consideration to non-executive directors Mr. Marthinus W von Wielligh (300 000 Afrimat
ordinary shares) and Mr. Hendrik JE van Wyk (100 000 Afrimat ordinary shares) for their
personal contribution towards the company’s good performance over the past few years.
Afrimat wishes to notify shareholders that the shares in respect of the above have been
issued to the non-executive directors as at 15 December 2014.
2. Pro forma financial effects
The unaudited pro-forma financial effects set out in the tables below have been prepared to
assist Afrimat shareholders to assess the impact of the transaction on the earnings per share
(“EPS”) and diluted EPS, headline EPS ("HEPS") and diluted headline EPS. HEPS and the
net asset value ("NAV") and the tangible NAV ("TNAV") per Afrimat ordinary share for the six
months ended 31 August 2014 ended. It has been assumed for purposes of the pro-forma
financial effects that the Transaction took place with effect from 1 September 2013 for
Statement of Comprehensive Income purposes and at 1 September 2013 for Statement of
Financial Position purposes.
The pro-forma financial effects have been prepared for illustrative purposes only and,
because of their nature, they may not fairly present Afrimat’s restated financial position at 31
August 2014 and the restated results of its operations for the six months then ended.
The Directors are responsible for the preparation of the financial effects which have not been
reviewed by the auditors. The "After" column represents the effects after the Transaction.
Per Afrimat share As published 31 August Adjustments (cents) After transaction (cents)
2014 (cents)
EPS for the period 61.4 (4.6) 56.8
ended 31 August 2014
HEPS for the period 61.1 (4.6) 56.5
ended 31 August 2014
Diluted EPS for the 60.2 (4.5) 55.7
period ended 31
August 2014
Diluted HEPS for the 59.9 (4.5) 55.4
period ended 31
August 2014
NAV as at 31 August 594.1 (3.5) 590.6
2014
TNAV as at 31 August 486.1 (3.3) 482.8
2014
Notes
1. The “Before transaction” column reflects the basic earnings, diluted basic earnings,
headline earnings, diluted headline earnings per Infrasors share for the period ended
31 August 2014 and the net asset value and the tangible net asset value per Afrimat
share as at 31 August 2014, before issuing the 400 000 Afrimat ordinary shares to the
non-executive directors.
2. The “After transaction” column is based on the assumption that 400 000 Afrimat ordinary
shares will be issued to the non-executive directors for no consideration. The shares will
be issued for no consideration and the costs of the shares, based on an issue price of
R16.39 per share (weighted average traded price of Afrimat Limited ordinary shares over
30 days prior to the agreement date of 25 November 2014), will be expensed as directors
remuneration.
Johannesburg
15 December 2014
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 15/12/2014 10:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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