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)


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.

27 May 2014

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

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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