PPC LIMITED - Proposed Capital Raise and Cautionary announcement

Proposed Capital Raise and Cautionary announcement

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE 000170049
("PPC" or the "Company")

PROPOSED CAPITAL RAISE AND CAUTIONARY ANNOUNCEMENT

CAPITAL RAISE
PPC is in advanced stages of preparation to execute a capital raise,
proceeds from which will be used to reduce current debt levels and fund
existing committed expansion capital expenditure and investment projects.
PPC has consistently communicated that it is reviewing its balance sheet in
order to provide for the 2016 and 2017 debt maturity profile and to put the
Company in a good position to execute its strategy.

In addition, arising from its current and ongoing engagement with a
particular credit ratings agency, PPC has reason to believe that the
outcome of this engagement is a probable credit rating downgrade of PPC. We
will advise our shareholders and other stakeholders of the outcome of such
engagement as soon as a final decision has been made by the aforesaid
credit ratings agency. The capital raising exercise will support the debt
rating of PPC.

The intended quantum of the proposed capital raise will be not less than
ZAR 3,0 billion and not more than ZAR 4,0 billion. The company expects to
release an announcement setting out the key terms of the capital raise when
it releases its 2016 financial year end results on 14 June 2016.

CAUTIONARY ANNOUNCEMENT
Shareholders are accordingly advised to exercise caution when dealing in
PPC securities until the full terms announcement in relation to the capital
raise is published.

Any securities which will be offered will not be and have not been
registered under the US Securities Act of 1933 (the “US Securities Act”)
and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under the US
Securities Act.

23 May 2016
Sponsor
Merrill Lynch South Africa (Pty) Limited

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

Financial Communications Advisor:
Instinctif Partners
Morne Reinders +27 (0) 82 325 1810
Morne.Reinders@instinctif.com
Louise Fortuin
Mobile: +27 (0) 71 605 4294
Louise.Fortuin@instinctif.com

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