BRIKOR LIMITED - Court order granted on 5 June 2015 and further cautionary announcement

Court order granted on 5 June 2015 and further cautionary announcement

BRIKOR LIMITED
(IN PROVISIONAL LIQUIDATION)
(Incorporated in the Republic of South Africa)
(Registration number 1998/013247/06)
JSE Share code: BIK ISIN: ZAE000101945
("Brikor” or “the Company”)


Court order granted on 5 June 2015 and further cautionary announcement

Shareholders are referred to the various cautionary and other announcements released over the last two
years relating to the provisional liquidation of Brikor, the last of which was published on 21 May 2015.

Court Order

Shareholders are advised that on 5 June 2015, a Memorandum of Agreement (“the agreement”)
concluded between FirstRand Bank Limited (“FirstRand”), Brikor, Garnett Parkin junior (“Parkin junior”)
and Philippina Maria McDonald (the Executrix of the estate of the late Garnett van Niekerk Parkin)
(“McDonald”) was made an order of Court.

In terms of the agreement, Brikor agreed to settle its indebtedness to FirstRand and to make payment to
FirstRand in the sum of R105 million.

The agreement further makes provision for payment of an amount of R10.5 million (exclusive of VAT) to
be paid to the joint liquidators of Brikor in respect of their fees in six payments, the last of which is to be
made by 30 September 2015.

All remaining legal proceedings between FirstRand, Brikor and McDonald and as instituted by Brikor has
been withdrawn.

By virtue of the granting of the Court order, the return date in respect of the provisional liquidation order
has been extended until 2 October 2015 and upon compliance with the agreement and the fulfilment of
the terms and conditions thereof, the indebtedness of Brikor will be regarded as having been settled in full
and the provisional liquidation order will then be discharged on the return date.

Provisional liquidation order extended

As stated above, in accordance with the Court Order granted on 5 June 2015, the return date of the
provisional liquidation order was extended until 2 October 2015 and on compliance with the agreement,
the provisional order will be discharged.

Further cautionary announcement
The trading in the shares of the Company on the JSE Limited will remain suspended.
Shareholders are advised to continue exercising caution in trading the Company’s shares until a further
announcement is made.


12 June 2015
Durban

Designated Advisor
Exchange Sponsors

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