Mobile -- proposed delisting

Wed, 09 Mar 2011

Mobile shareholders ("Shareholders") are referred to: * the circular dated 22 November 2010 regarding the unbundling by Mobile of 86 695 758 Trencor Ltd shares held by Mobile to Shareholders by way of a distribution in specie ("Unbundling") wherein it was stated that if no further corporate action had taken place by or in relation to Mobile, or had been proposed, by the implementation date of the Unbundling, being Monday, 7 February 2011, then Mobile would cease to qualify for a listing on the JSE, whether as a cash shell or otherwise, and the Mobile board intends that on or before 28 February 2011 it will send a circular to shareholders proposing that Mobile be placed into voluntary liquidation; and * the reviewed results for the year ended 31 December 2010 released on SENS on Monday, 28 February 2011 wherein it was announced that Mobile will be delisted and wound up in due course and that the total equity of Mobile at 28 February 2011 was approximately R0,2 million. Shareholders are advised that: *there has been no corporate action in relation to Mobile and that, in the circumstances, it will be proposed to Shareholders that Mobile be wound up; and *given the abovementioned equity position of Mobile at 28 February 2011 and the anticipated costs of the delisting and members' voluntary winding-up there will almost definitely be no liquidation dividend. A detailed announcement on the proposed delisting and members' voluntary winding-up will be made in due course and full details in this regard will be communicated to shareholders with the 2010 annual report.