CONSOLIDATED INFRASTRUCTURE GROUP LIMITED - Results of the fully underwritten rights offer

Results of the fully underwritten rights offer

Consolidated Infrastructure Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
Share code: CIL
ISIN: ZAE000153888
(“CIG”, the “Company”)


NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA OR JAPAN. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN
OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

RESULTS OF THE FULLY UNDERWRITTEN RIGHTS OFFER

The results of the Rights Offer are as follows:

       •   R800 million in proceeds raised;
       •   10.5% Rights Offer uptake by existing CIG shareholders; and
       •   89.5% Rights Offer uptake by the Underwriter.

The successful implementation and conclusion of the Rights Offer will materially strengthen the Company’s balance
sheet, to provide the required headroom for CIG to deliver on its corporate strategy and manage the business optimally
in an efficient and effective manner with the aim of maximising the value created for CIG Shareholders and to protect
the sustainability of CIG as an enterprise.

1      Introduction

CIG shareholders are referred to the announcement released on the Stock Exchange News Service on Tuesday, 4
December 2018, declaring the Company’s intention to undertake a non-renounceable rights offer (the “Rights Offer”),
fully underwritten by Fairfax Africa Investments Proprietary (the “Underwriter”) to Qualifying CIG Shareholders, as
defined in the Rights Offer circular dated Wednesday, 12 December 2018 (the “Rights Offer Circular”), to raise R800
million.

The Rights Offer consisted of an offer of 200 million new ordinary CIG shares (the “Rights Offer Shares”) issued in the
ratio of 1.01958098 Rights Offer Shares for every 1 ordinary CIG share held on the record date for the Rights Offer, at a
subscription price of R4.00 per Rights Offer Share.

2       Issue of Rights Offer Shares

Qualifying dematerialised CIG shareholders’ CSDP or Broker accounts will be updated with Rights Offer Shares, to the
extent accepted, and debited with the relevant costs at 09:00 today, Monday, 24 December 2018.

Qualifying certificated CIG shareholders’ Rights Offer Shares will be updated and debited to an electronic account held
with the Transfer Secretaries at 09:00 today, Monday, 24 December 2018.

Johannesburg
24 December 2018

Financial adviser and transaction sponsor to CIG
Rand Merchant Bank, a division of FirstRand Bank Limited

Legal adviser to CIG
ENS Africa

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