EXX - Detailed terms of the Replacement BEE Transaction and Renewal of Cautionary Announcement

September 19, 2017

Business Day / 18 September 2017 - 10:38 AM / JSE SENS Department

 

EXX - Detailed terms of the Replacement BEE Transaction and Renewal of Cautionary Announcement Exxaro Resources Limited (Incorporated in the Republic of South Africa) Registration number:

2000/011076/06 JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY (“Exxaro” or the “Company”) DETAILED TERMS OF THE REPLACEMENT BEE TRANSACTION AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

 

1. INTRODUCTION AND BACKGROUND

 

1.1. Exxaro shareholders (“Exxaro Shareholders”) are referred to the cautionary announcement released on the Stock Exchange News Service (“SENS”) by the Company on 22 November 2016, as well as the renewal of the cautionary announcement, released on SENS on 26 June 2017 (together, the “Previous Announcements”), relating to the unwind of Exxaro’s existing Black Economic Empowerment (“BEE”) transaction (the “Existing BEE Transaction”) and the proposed implementation of a replacement BEE transaction (the “Replacement BEE Transaction”) with the direct and indirect shareholders of Main Street 333 Proprietary Limited (“MS333”).

 

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1.2. On Friday, 15 September 2017