CMO - CHROMETCO LIMITED - Conclusion of Tranche One of Transaction and Issue of Shares for Cash

CHROMETCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
Share code: CMO
ISIN Code: ZAE000070249
(“Chrometco” or “the Company”)

CONCLUSION OF TRANCHE ONE OF TRANSACTION AND ISSUE OF SHARES FOR CASH

Shareholders are referred to the various announcements released on SENS, the last of which was dated 18 July 2017 wherein the Company announced that shareholders had approved various resolutions to recapitalise the Company and the acquisition by the Company of various assets.

Shareholders are advised that, in light of the approval of Ordinary Resolution Number 3, the Takeover Regulation Panel (“TRP”) has, in terms of section 119(6) of the Companies Act, No. 71 of 2008 (“the Act”), waived the need for GSE to make a mandatory offer to the remaining Chrometco shareholders under section 123 of the Act. Shareholders are advised that they may request the Takeover Special Committee to review the TRP’s above ruling within 5 business days of this announcement being released on SENS.

Shareholders are hereby advised that application has been made to the JSE for the listing of 62.5 million shares in terms of the specific issue of shares and an additional 835 million shares in terms of the first tranche of the Black Chrome Agreement, the details of which are set out in the circular issued to Chrometco shareholders on 30 May 2017.

Johannesburg

24 July 2017

Designated Advisor and Corporate Advisor: PSG Capital Proprietary Limited