PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET & ISIN: ZAE000076014
Share Code AIM: PTMN
("Petmin" or "the Company")
UPDATE ON SALE OF SAMQUARZ
This statement is not related to the Cautionary announcement issued by Petmin on 9 January 2012.
Shareholders are advised that Petmin has received notification from the Competition Commission relating to the sale of its SamQuarz silica mine.
In its annual financial statements issued on 13 September 2011, Petmin announced it had sold SamQuarz to Thaba Chueu Mining (Pty) Limited ("Thaba") for R259 million, subject to final approval from the Competition Commission and the Department of Mineral Resources.
On 13 January 2012 the Competition Commission notified Petmin that it would not authorize the sale.
The Commission's decision relates to the strategic importance of SamQuarz as a supplier to the producers of ferrosilicon and silicon metal in South Africa.
The board and management of Petmin, together with Thaba, are studying the Commission's decision and considering their options in consultation with advisors and legal counsel.
The decision does not impact on Petmin's ability to deliver on its strategy, including the funding of current and future investments in South Africa and abroad.
Petmin will advise shareholders in due course as to how it will proceed in light of the Commission's decision.
Enquiries:
Petmin
Bradley Doig +27 824 597 818
bradley@petmin.co.za
www.petmin.co.za
Media enquiries
Jonathon Rees +27 76 185 1827
Jonathon@proofcommunication.com
Nominated Advisor (AIM)
Numis Securities Limited +44 207 260 1000
Stuart Skinner
Sponsor and Corporate Advisor (JSE)
River Group
Andrew Lianos +27 834 408 365
Johannesburg
16 January 2012
