| Mon 8 Feb 2016, 15:25 | | ILLOVO SUGAR LIMITED - Cautionary announcement |
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ILV 201602080041A
Cautionary announcement
Illovo Sugar Limited
(Incorporated in the Republic of South Africa)
Company registration number 1906/000622/06
Share Code: ILV
ISIN: ZAE000003547
("Illovo" or "the Company")
CAUTIONARY ANNOUNCEMENT
Shareholders of the company are advised that the Illovo board of directors has received a non-binding
expression of interest from Associated British Foods plc (‘ABF’), Illovo’s controlling shareholder,
holding 51.35% of the company’s shares, for ABF to potentially acquire all the issued ordinary shares
of the company that ABF does not already own. ABF intends to make an offer of ZAR20 per Illovo
ordinary share, to be settled in cash, to all other shareholders. The board, excluding its ABF
nominated directors, will appoint independent advisors to assist it in the process going forward.
Discussions, which are still at an early stage, would, if successfully concluded, affect the price of the
company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the
company's securities until a further announcement is made. At this stage there is no certainty that the
discussions will result in a transaction.
Durban
Date: 8 February 2016
Sponsor
J.P. Morgan Equities South Africa Proprietary Limited
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