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RCL FOODS – RESULTS OF THE PRO RATA OFFER

RCL Foods shareholders (“Shareholders”) are referred to the announcement released on the Stock Exchange News Service on Friday, 17 January 2014 and to the circular issued on Thursday, 12 December 2013 advising Shareholders of a proposed R2.5 billion equity capital raising, including a pro rata offer of 74 214 642 new ordinary shares in RCL Foods (“Pro Rata Offer Shares”) to qualifying RCL Foods minority shareholders at a subscription price of R16.50 (the “Pro Rata Offer”).

Results of the pro rata offer
Pursuant to the Pro Rata Offer, which closed at 12:00 on Tuesday, 4 February 2014, qualifying RCL Foods minority shareholders subscribed for 47 889 945 Pro Rata Offer Shares for gross proceeds of R790 million.

Issue of pro rata offer shares
Dematerialised Shareholders, who validly subscribed for Pro Rata Offer Shares, will have their accounts at their CSDP or broker updated with the Pro Rata Offer Shares to which they are entitled on Monday, 10 February 2014. CSDPs effect payment on a delivery versus payment basis. Certificated Shareholders, who validly subscribed for Pro Rata Offer Shares, will have new share certificates in respect of the Pro Rata Offer Shares to which they are entitled posted to them, at their own risk, on Monday, 10 February 2014.

Private placement
Market conditions permitting, and not before the Company’s interim results announcement on 20 February 2014, it is the intention of the board of directors of RCL Foods to raise the balance of the R2.5 billion by way of a private placement of shares to qualifying South African and international investors. Further details will be announced in due course.