Assore Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/037394/06
Share code: ASR ISIN: ZAE000146932
("Assore")
UNCONDITIONALITY OF PHASE II OF ASSORE'S THIRD EMPOWERMENT
TRANSACTION Shareholders of Assore ("Shareholders") are
referred to the circular dated
Wednesday, 14 December 2011 ("the Circular") relating to
Phase II of
Assore's Third Empowerment Transaction. The terms used in
this
announcement are those as defined in the Circular.
Shareholders are advised that, following the approval of all
the special and ordinary resolutions relating to the
implementation of Phase II of the Third Empowerment
Transaction at the general meeting of Shareholders held on
Thursday, 19 January 2012, all remaining conditions precedent
in respect of the Third Empowerment Transaction, as set out
in the Circular, have now been met. Accordingly, Assore has
issued the Assore Preference Shares as contemplated in the
Circular, and the loan provided under the Facility Agreement
has been repaid.
Johannesburg
24 February 2012
Investment bank and sponsor to Assore
The Standard Bank of South Africa Limited
Attorneys to Assore
Webber Wentzel Attorneys