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GNDE - Grindrod --Results of Claw-Back Offer to Qualifyi

27/05/2014 13:00:58


REM 201405270027A
Results of Claw-Back Offer to Qualifying Grindrod Shareholders

Remgro Limited Grindrod Investments Proprietary Limited
(Incorporated in the Republic of South (Incorporated in the Republic of South
Africa) Africa)
(Registration number 1968/006415/06) (Registration number 1957/003944/07)
Share code: REM (“Grindrod Investments”)
ISIN: ZAE000026480
acting through its wholly-owned subsidiary
Industrial Partnership Investments
Proprietary Limited
(Registration number 1975/004528/07)
(“Remgro”)

RESULTS OF CLAW-BACK OFFER TO QUALIFYING GRINDROD SHAREHOLDERS

1. Introduction

Shareholders of Grindrod Limited (“Grindrod”) are referred to the announcement released
on the Stock Exchange News Service of the JSE Limited on Tuesday, 13 May 2014, (the
"Claw-back Offer Announcement") setting out the terms of a claw-back offer of Grindrod
shares to Qualifying Grindrod Shareholders (the “Claw-back Offer”).

Capitalised terms not defined in this announcement shall have the meanings given to them
in the Claw-back Offer Announcement.

2. Results of the Claw-back Offer

The Claw-back Offer closed on Friday, 23 May 2014.

Remgro and Grindrod Investments are pleased to announce that Qualifying Grindrod
Shareholders accepted the Claw-back Offer in respect of a total of 5,307,691 Claw-back
Offer Shares at the Claw-back Offer price of R25.00 per share, together with the Securities
Transfer Tax (“STT”) payable thereon, for a total purchase consideration of approximately
R133 million.

More than 15,000 valid acceptances were received.

3. Settlement of the Claw-back Offer

CSDP or broker accounts in respect of dematerialised Qualifying Grindrod Shareholders
will be credited with validly purchased Claw-back Offer Shares and debited with the
aggregate purchase price due (together with the STT payable thereon) on Tuesday, 3
June 2014.

Share certificates in respect of validly purchased Claw-back Offer Shares will be posted to
certificated Qualifying Grindrod Shareholders on or about Tuesday, 3 June 2014.


Stellenbosch
27 May 2014

Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Attorneys
Webber Wentzel

Date: 27/05/2014 12:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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