NOTICE TO SHAREHOLDERS AUDITED FINANCIAL RESULTS FOR TWELVE MONTHS ENDED 30 SEPTEMBER 2012

NOTICE TO SHAREHOLDERS AUDITED FINANCIAL RESULTS FOR TWELVE MONTHS ENDED 30 SEPTEMBER 2012 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS TO 30 SEPTEMBER 2012 $ Revenue Operating profit Net finance cost Profit before taxation Taxation Profit for the period Other comprehensive income: Total comprehensive income for the period 23,119,929 2,382,058 (89,780) 2,292,278 (620,239) 1,672,039 1,672,039 NINE MONTHS TO 30 SEPTEMBER 2011 $ 18,566,051 2,004,138 (170,776) 1,833,362 (542,869) 1,290,493 1,290,493 Operating profit Depreciation Share option charge Loss/(Profit) on disposal of property, plant and eq Change in working capital Net cash generated from operating activities Net finance cost Tax paid Proceeds from issue of share capital Proceeds from sale of property plant and equipm Purchase of property, plant and equipment Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period ABRIDGED STATEMENT OF CASH FLOWS TWELVE MONTHS TO 30 SEPTEMBER 2012 $ 2,382,058 213,621 14,022 1,940 (1,973,538) 638,103 (89,780) (615,684) 1,900 (116,351) (181,812) (507,206) (689,018) NINE MONTHS TO 30 SEPTEMBER 2011 $ 2,004,138 150,814 78,469 (8,250) (2,156,893) 68,278 (170,776) (630,553) 3,867 8,250 (157,965) (878,899) 371,693 (507,206)

Issued Ordinary Shares (weighted) (number) Basic earnings per share (cents) Diluted earnings per share (cents)

32 609 000 5.13 4.99

32 523 074 3.97 3.93

CONSOLIDATED STATEMENT OF FINANCIAL POSITION Non current assets Inventories Trade and other receivables Cash and bank Total assets Shareholders' equity Deferred tax Borrowings Current liabilities Total equity and liabilities

AS AT 30 SEPTEMBER 2012 $ 3,066,240 6,428,876 3,439,738 419,631 13,354,485 8,842,261 732,929 1,108,649 2,670,646 13,354,485

AS AT 30 SEPTEMBER 2011 $ 3,167,349 5,084,887 3,697,427 243,906 12,193,569 7,156,200 716,697 751,112.0 3,569,560 12,193,569

STATEMENT OF CHANGES IN EQUITY

Share capital $

Share premium $ 11,100 69,599 80,699 80,699 80,699

Share option reserve $ 38,740 12,735 51,475 51,475 14,022 65,497

Non-distributable reserve $ 3,891,668 3,891,668 3,891,668 (3,891,668) -

Retained earnings $ 1,841,539 1,290,493 3,132,032 3,132,032 3,891,668 1,672,039 8,695,739

Total $ 5,783,371 82,336 1,290,493 7,156,200 7,156,200 14,022 1,672,039 8,842,261

Balance at 1 January 2011 Transaction with owners: Share options Comprehensive income: Net profit for the year Balance at 30 September 2011 Balance at 1 October 2011 Transfer of non distributable reserve Transaction with owners: Share options Comprehensive income: Profit for the period Balance at 30 September 2012

324 2 326 326 326

TWELVE MONTHS TO 30 SEPTEMBER 2012 $ Capital expenditure Depreciation charge 116,351 213,621

NINE MONTHS TO 30 SEPTEMBER 2011 $ 157,965 150,814

NOTES TO THE FINANCIAL STATEMENTS 1 The principal accounting policies of the Group,have been followed in all material respects and conform to International Financial Reporting Standards(IFRS). 2 The financial statements are presented in United States Dollars which is the functional and presentation currency of the Group. 3 Related party transactions CBI-Electric African Cables Limited -A division of ATC (PTY) Ltd owns 71% of the company and the remaining 29% is widely held. The following transactions were carried out with related parties: TWELVE MONTHS TO NINE MONTHS TO 30 SEPTEMBER 2012 30 SEPTEMBER 2011 (i) Purchases:$ $ Purchases during the year from Group companies CBI-Electric African Cables Limited -A Division of ATC (PTY) Ltd CBI- Electric Aberdare /ATC Telecoms Cable (PTY) Ltd Goods and services are bought from related parties on commercial terms and conditions. Sales:CBI-Electric African Cables Limited -A Division of ATC (PTY) Ltd The above sales were done at arm's length. (ii) Year-end balances arising from purchase of goods/services Payables to related parties: CBI-Electric African Cables Limited -A Division of ATC (PTY) Ltd 12,094,689 6,391,653 155,136

765,160

718,914

853,867

1,053,437

(iii) There were no loans made to directors or management of the Group companies (iv) Key management remuneration Key management includes directors(executive and non executive) and executive managers (membes of the executive committee) Salaries and other short term benefits Share options 597,750 14,022 417,994 78,469

4 The auditors,PricewaterhouseCoopers,have audited the financial statements of the Group for the year ended 30 September 2012.The report contained in financial statements,which is available at the Company's registered office, is unqualified.

OVERVIEW OF RESULTS The reporting period is a twelve month period against a nine month comparative as the financial year end was changed to be coterminous with that of the majority shareholder for the purposes of consolidation. Turnover for the twelve months was 25% up on the corresponding nine month period resulting in an operating profit of $2.382 million which was 19% greater than the nine month period reflecting a stagnant and difficult market. Finance charges for the twelve month period were $89 780 against the nine month period comparative of $170 776 due to the reduced borrowings and cheaper cost of borrowings. Profit after tax for the twelve month period and basic earnings per share were 29% up on the corresponding nine month period reflecting a slight improvement on the prior year if one extrapolates the result. CONSOLIDATED STATEMENT OF FINANCIAL POSITION The consolidated statement of financial position shows a further investment of $1, 3 million in stock to improve lead times and place consignment stock at strategic customers. This was financed mainly from the years profits and borrowings. The set off of cash versus borrowings reflects a net borrowings position of $688 000 of which $600 000 was a once off investment in aluminium raw material to overcome a short term market shortage in the product. OUTLOOK

We intend to maintain borrowings below the current usage until such time as the current uncertainty in the economy improves. Due to uncertainty in the environment, we are forecasting to at least maintain current throughput for the next twelve months with any downturn in demand being replaced with recycling copper barter deals. DIVIDEND The Directors have again waived the declaration of a dividend as our cash flow priorities are to first eliminate all borrowings and then to invest in upgrading plant. By Order of Board C Kangara Company Secretary 22 November 2012 Directors: H.P. Mkushi (Chairman) R.N. Webster (Managing) E.T.Z. Chidzonga A.E.Dickson A. Mabena S.E. Mangwengwende T.A. Taylor