Prepared and issued in terms of the JSE Limited (“JSE”) Listings Requirements

This Pre-listing Statement is neither an invitation to the public to subscribe for, nor an offer to purchase ordinary shares in Kibo, but is issued in terms of the Listings Requirements of the JSE for the purpose of providing information to the public in regard to the secondary listing of the ordinary shares of Kibo on the JSE.

The JSE has granted a secondary listing, by way of an introduction, of all of the ordinary shares issued in Kibo, on the AltX, a separate Board of the JSE under the abbreviated name “KIBO” and trading code KBO, with effect from the commencement of trading on the JSE on 30 May 2011.

At the date of the commencement of the listing, the authorised share capital of Kibo will comprise 800 000 000 ordinary shares with a par value of €0,01, each of which there will be 341 259 208 issued and listed ordinary shares. The premium account of the Company is €6 398 224. There are no other classes of shares issued and/or listed on any stock exchange and no shares held in treasury by Kibo.

The shares of Kibo will only be traded on the JSE as dematerialised shares. Accordingly, any person who purchases shares in Kibo and who elects to receive shares in Kibo in certificated form, will be required to dematerialise such certificated shares prior to being in a position to trade such shares on the JSE.

The directors, whose names are disclosed in paragraph 20 of this Pre-listing Statement accept, collectively and individually, full responsibility for the accuracy of the information given and certify that, to the best of their knowledge and belief, no facts have been omitted which would make any statement false or misleading, and that they have made all reasonable enquiries to ascertain such facts and that this Pre-Listing Statement contains all information required by law and the JSE Listings Requirements.

The corporate advisor, sponsor, transfer secretaries and reporting accountant, whose names are included in this Pre-listing Statement, have given and had not, at the date of this Pre-Listing Statement, withdrawn their written consents to the inclusion of their names in the capacities as stated.

SAB&T whose report is included in Annexures 4, 5a and 5b and Venmyn Rand (Proprietary) Limited whose report is included in Annexure 6 have given and had not, at the date of this Pre-Listing Statement, withdrawn their written consents to the inclusion of their reports in the form and context in which they appear.

An abridged version of this Pre-listing Statement will be released on SENS and published in the press on 27 May 2011.

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