Update regarding provisional liquidation and continued suspension of shares Chemical Specialities Limited Incorporated in the Republic of South Africa Registration number 2005/039947/06 Share code: CSP &CSPP ISIN: ZAE000109427 & ZAE000184305 ("Chemspec" or "the Company") Update regarding provisional liquidation and continued suspension of shares Shareholders are referred to the announcements released on SENS on 3 August 2015, 11 September 2015 and 10 December 2015, regarding the Company being placed into provisional liquidation on 5 August 2015. The Joint Provisional Liquidators (“Liquidators”) appointed by the Master of the High Court Durban are: Eugene Nel, Thami Mshengu, Roselyn Noel and Selby Ntsibane. The Liquidators appointments were made final on the 18th November 2015. “The Liquidators have extended their powers in terms of Section 386 of the Companies Act and pursuant thereto are engaged in selling stock, assets and collecting the debtors of the Company.” We confirm that the second meeting of creditors was held on Wednesday the 3rd February 2016, whereat further creditors’ claims were proved, resolutions adopted and the Liquidators statutory report was tabled. The report and resolutions can be downloaded from the website address: www.chemliq.co.za. Shareholders are advised that the liquidation process is ongoing and that the trading in the shares of the company remains suspended. A recovery for shareholders appears to be extremely unlikely. Pietermaritzburg 11 March 2016 Designated Advisor: Grindrod Bank Limited Date: 11/03/2016 09:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.