Amalgamated ElecCorp Ltd(AER) Settlement of Secequip loan & payment of special cash div to Amecor scheme participant Amalgamated Electronic Corporation Limited Incorporated in the Republic of South Africa (Registration number 1997/010036/06) Share code: AER ISIN: ZAE000070587 (delisted) (“Amecor” or “the Company”) SETTLEMENT OF SECEQUIP LOAN AND PAYMENT OF SPECIAL CASH DIVIDEND TO AMECOR SCHEME PARTICIPANTS Amecor Scheme Participants are referred to the combined Circular issued to Amecor Shareholders on 14 September 2016 (and using the terms defined therein unless otherwise stated) in terms whereof, following the implementation of the Scheme, the Scheme Participants, recorded as such on the Scheme Record Date, will retain the right to receive the Secequip Distributions pro rata to their shareholding in the Company as at the Scheme Record Date. Amecor Scheme Participants are hereby advised that the Secequip Loan Administrator has negotiated a full and final settlement with Secequip in respect of the Secequip Loan. The Secequip Proceeds amount to R12 022 149, of which an amount of approximately R200 000 is being withheld as a possible Adjustment for six months. If such Adjustment does not materialise, the amount so withheld will also be distributed to Scheme Participants. In terms of the Circular, the declared gross special dividend of 17.070 cents per Amecor share held at the Scheme Record Date, will be paid to Amecor Scheme Participants from the Secequip Proceeds on Monday, 27 February 2017. The current local Dividend Withholding Tax (“DWT”) rate is 15%. The gross local dividend amount is 17.070 cents per share for shareholders exempt from paying DWT whilst the net local dividend payable is 14.5095 cents per share for shareholders liable to pay DWT. The issued share capital of Amecor at the Scheme Record Date was 70 430 401 shares. The board of directors of Amecor has reasonably concluded that Amecor will satisfy the solvency and liquidity test immediately after distribution of the special dividend and for the next 12 months. Amecor’s income tax reference number is 9381483842. Johannesburg 17 February 2017 Date: 17/02/2017 10:45:00 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.