Published: 14 April 2014

ANNOUNCEMENT OF THE RESULTS OF THE SHARE SWAP OFFER TO CHEMCO HOLDINGS LIMITED ("Chemco") MINORITY SHAREHOLDER BY TSL LIMITED ("TSL").

Shareholders are advised that approximately 93.23% of Chemco minority shareholders have accepted the share swap offer from TSL. Accordingly, the Board of Chemco and TSL hereby give notice to Chemco minority shareholders who are yet to accept the offer that TSL will now compulsorily acquire their shares in terms of Section 194 of the Companies Act (Chapter 24:03).

Chemco shareholders may receive their TSL shares at the contact address appearing in the share register of Chemco, or in accordance with any instruction to the contrary in force. All unclaimed TSL shares shall be held in trust by First Transfer Secretaries (Private) Limited until claimed.

As previously noted in the circular to shareholders, the Board of Chemco will lodge an application with the Zimbabwe Stock Exchange Listings Committee for the voluntary delisting of Chemco shares from the exchange in due course.
- CHEM

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