AFRIMAT LIMITED - Posting of Circular and Notice of General Meeting

Posting of Circular and Notice of General Meeting

Afrimat Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT ISIN: ZAE000086302
(“Afrimat” or “the Company”)

POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING

1.    INTRODUCTION

      Afrimat shareholders are advised that further to the ARC transaction announced on SENS on 23
      September 2016, Afrimat wishes to amend the Second BEE Trust Deed so as to establish the
      Revised Scheme (“Transaction”). The Revised Scheme will facilitate the participation of Qualifying
      Employees who may otherwise not have been able to become beneficiaries under the Current
      Scheme.

      The establishment of the Revised Scheme will not require Afrimat to issue any additional Afrimat
      Shares. Furthermore, the Revised Scheme will enable Afrimat to further its long-term BEE objectives,
      and will facilitate Afrimat Group’s compliance with the BEE Requirements. This requires that such
      amendment be approved, inter alia, by 75% of the shareholders of Afrimat voting at a general
      meeting.

2.    POSTING OF CIRCULAR

      Afrimat shareholders are hereby advised that a circular containing, inter alia, details of the
      Transaction, and incorporating a notice of general meeting of shareholders (“the Circular”) will be
      posted to Afrimat shareholders today, 21 October 2016 and will be available on the Company’s
      website at www.afrimat.co.za.

3.    NOTICE OF GENERAL MEETING

      Notice is hereby given that a general meeting of Afrimat shareholders will be held at Tyger Valley
      Office Park No. 2, Corner Willie van Schoor Avenue and Old Oak Road, Tyger Valley at 10:00 on
      Friday, 18 November 2016 (“General Meeting”), or at any adjournment thereof, if required for the
      purpose of considering and, if deemed fit, passing with or without modification, the resolutions set out
      in the notice of general meeting included in the Circular.

4.    IMPORTANT DATES AND TIMES

      Shareholders are referred to the table below setting out important dates and times in relation to the
      Transaction.

                                                                                                       2016
      Record date to determine which Afrimat shareholders are entitled to receive
      the Circular                                                                       Friday, 14 October

      Circular and notice of General Meeting posted to Afrimat shareholders and
      announced on SENS on                                                               Friday, 21 October

      Last date to trade Afrimat Shares on the JSE in order to be eligible to vote      Tuesday, 8 November
      at the General Meeting

      Record date to be entitled to participate in and vote at the General Meeting      Friday, 11 November

      Forms of proxy for the General Meeting to be lodged by 10:00 on                Wednesday, 16 November

      General Meeting of Afrimat shareholders to be held at 10:00 on                    Friday, 18 November

      Announcement of results of the General Meeting released on SENS on                Friday, 18 November

      Notes:
      1. The definitions in Circular apply, mutatis mutandis, to this information on important dates and times.
      2. The above dates and times (or any other dates and times in this Circular) are subject to amendment.
         Any amendment to the dates and times will be released on SENS.
      3. All the times referred to in this Circular are local times in the Republic of South Africa.

5.    COPIES OF THE CIRCULAR

      Copies of the Circular will be available for inspection by Afrimat shareholders during normal business
      hours at the registered office of the Company, and at the offices of the Company’s sponsor, Bridge
      Capital Advisors Proprietary Limited at 27 Fricker Road, Illovo, Johannesburg, from today, 21
      October 2016 until 18 November 2016 (both days inclusive).

21 October 2016
Cape Town
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 21/10/2016 10:00:00 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.