RESULTS OF THE RENOUNCEABLE RIGHTS OFFER

Members are advised that a Rights Offer was made to the registered holders of ordinary shares in AICO Africa Limited as at 20 December 2013 to subscribe for 560,831,770 (five hundred and sixty million eight hundred and thirty one thousand seven hundred and seventy) new ordinary shares in the share capital of AICO Africa Limited, at a subscription price of US$0.0270 (zero comma zero two seven United States Dollars) per ordinary share, on the basis of 105 (one hundred and five) new shares for every 100 (one hundred) ordinary shares already held.

The Rights Offer closed on 24 January 2014 and the results of the Rights Offer were as follows:
Number of Rights Offer Shares Ordinary Rights Offer Shares Subscribed Percentage subscription Percentage of the Rights Offer shares to be issued to the Underwriter 560,831,770 530,396,515 94.57% 5.43%

The Rights Offer shares will be issued and listed on the Zimbabwe Stock Exchange with effect from Monday, 10 February 2014. The Board of Directors and Management of AICO Africa Limited take this opportunity to express their appreciation to shareholders, the underwriter and other stakeholders for their valued support.

BY ORDER OF THE BOARD

P. Manamike Company Secretary 28 January 2014

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