Disposal of properties associated with flexible assets held for sale and renewal of cautionary announcement ASTRAPAK LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1995/009169/06) Share Code: APK ISIN: ZAE000096962 Share Code: APKP ISIN: ZAE000087201 (“Astrapak”) DISPOSAL OF PROPERTIES ASSOCIATED WITH FLEXIBLE ASSETS HELD FOR SALE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT 1. Introduction & Rationale Astrapak’s property holding subsidiaries, Micawber 430 (Pty) Limited and Micawber 451 (Pty) Limited, have entered into agreements (“Transaction Agreements”) to dispose of their respective letting enterprises and properties (“the Property Businesses”) to the Truzen Trust 123 and the Truzen Trust 124 respectively (“the Purchasers”) on a going concern basis (“the Transaction”). The decision to dispose of the Property Businesses accords with Astrapak’s strategic objective to focus on its core moulding and forming technology platform and to dispose of the residual properties and flexible assets already classified as held for sale. 2. Nature of the Transaction In terms of the Transaction Agreements, Astrapak will dispose of the Property Businesses to the Purchasers on a going concern basis and the flexible businesses of Barrier Film Converters (Pty) Limited and Peninsula Packaging (a division of Master Plastics (Pty) Limited) will continue to occupy these properties as tenants. 3. Disposal consideration The aggregated disposal consideration in respect of the Transaction is R49.6m. This represents a premium of R 6.2m to the book value of assets being disposed of in terms of the Transaction. The proceeds will be utilised by Astrapak to reduce its current level of gearing. 4. The value of the net assets and the profits attributable to the net assets As at the financial year ended 29 February 2016, the book value of the assets that are the subject of the Transaction was R43.4m. The Property Businesses generated turnover of R6.0m in rental income and had an attributable profit of R3.8m for the financial year ended 29 February 2016. 5. Conditions precedent Other than for the delivery of bank issued guarantees and transfer of the properties in the Deeds Office, the Transaction is not subject to any further conditions precedent 6. Effective date The effective date of the Transaction will be the date of transfer of the properties in the Deeds Office which is expected to be on or about 31 August 2016. 7. JSE categorisation The Transaction is a Category 2 transaction in terms of paragraph 9.5(a) of the JSE Limited Listings Requirements and accordingly no shareholder approval is required. 8. Renewal of cautionary announcement Shareholders are referred to the cautionary announcement released on the Stock Exchange News Service on 21 January 2016 and to the renewal cautionary announcements released on 4 March 2016, 20 April 2016 and 3 June 2016 and are advised to continue exercising caution when trading in their Astrapak shares. Johannesburg 8 July 2016 Merchant bank and sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/07/2016 10:50:00 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.