Imara Corporate Finance Profile

2011

Mission Statement
To become the leader in African wealth management by providing first class
products d t and d services i t to corporate, t i institutional tit ti l and d hi high h net t worth th clients. li t

Imaras Presence

Overview
A Botswana listed Investment Banking Group with a regional network of offices. Extensive Expertise p in Africa - a p pioneer in the development p of African capital p
markets in the past twenty years.

Securities Trading
4 An act active ve pa participant t c pa t in regions eg o s markets, a ets, st strong o g research esea c cove coverage age o of regional eg o al equ equities t es
In excess of US$165m of client funds under management and US$1.77 billion of client assets under administration.

Corporate Finance raises capital and provides strategic advice for both large and
small ll companies i across Africa. Af i

Investment Management in excess of US$434 million invested in Africa and

Globally for Institutional and Private Clients.

Independent with a wide shareholder base significant management and staff

stake.

Background g

Formation of S P Reid (Pty) Ltd in SA Formation of Edwards & Co in Harare Stockbrokers Botswana and Botswana Stock Exchange est Acquisition by Robert Fleming UK of 50% of Edwards & Co Stockbrokers Malawi Ltd and Malawi Stock Exchange est Sale of Robert Fleming UK to JP Morgan MBO of Edwards & Co from JP Morgan Formation of Imara in Botswana Acquisition of S P Reid & Mackeurtan (Pty) Ltd in SA Acquisition of The Janus Corporation (Pty) Ltd in SA Acquisition of the Anglo African Global Fund : rebranded Imara Global Fund Launch of Asset Management businesses in Botswana & SA International Financial Services Centre status granted Acquisition of Rice Rinaldi broking book in SA MOU signed with Stockbrokers Zambia & Namibia Equity Brokers Launch of the Imara African Opportunities Fund (IAOF) Acquisition of interest in Imara Capital Zimbabwe Imara listed on OTC market of the Botswana Stock Exchange IAOF listed on Dublin Stock Exchange 1938 1954 1989 1994 1996 2000 2002 2002 2003 2003 2003 2003 2004 2004 2005 2005 2006 2006 2006

Imara listed on the VCM of the Botswana Stock Exchange IAOF registered and granted local asset status in Botswana Launch of the Imara Africa Series umbrella fund sub funds included

2006 2006 2007

Nigeria Fund Zimbabwe Fund 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2009 2009

MOU signed with MacCapital Dubai Launch of Imara Africa Securities Imara Capital SA / Zingwenya BEE transaction Launch of the Imara East Africa Fund Launch of the Imara Equity Fund in SA Launch of Imara Trust Company (Mauritius) Limited MOU signed with Chapel Hill Denham in Nigeria Launch of the Imara African Resources Fund MOU signed with NIC Capital Limited in Kenya Launch of Imara Securities Angola SCVM in Luanda Acquisition of interest in Stockbrokers Zambia Imara Beresford International Limited formed in Mauritius Acquisition of interest in Capital Securities (Pty) Limited in Botswana

Our Core Services

Corporate Finance
Leading Team 10 professionals-5 in Zimbabwe Located in 3 Offices region-wide Corporate Finance Mergers and Acquisitions Strategic Advice Corporate Restructuring Privatisations Private Equity Capital Markets Equity Issues Convertible Issues Debt D b I Issues

Asset Management
13 professional investment managers,
including 5 in our Zimbabwe associate, covering Africa as well as emerging and global markets.

SecuritiesTrading
Sales 34 sales/portfolio professionals, including 3 in Zimbabwe, covering the region Research 9 equity research analysts, including 3 in Zimbabwe, covering over 400 regional companies p

US$44m under management including

US$110m with Zimbabwe. our associate in

Private wealth management in South

Africa and Botswana.

Imara Global Fund, Imara Africa Series &

Imara African Opportunities Fund, registered in BVI, advised by FSA licensed Imara UK.

Establishment of trusts, administration

services, incorporation of f offshore ff h entities, opening and administering offshore bank accounts; approved by the FSC and licensed as Imara Trust Company (Mauritius) Limited

2 Prop Traders 2 Fund Managers US$165m client funds under

management US$1.77 billion client assets under administration

Trading

Corporate Finance
Overview

Overview

Active in African markets executed over 200 transactions across 12 countries, with a combined transaction value in excess of US$10 billion; Regional network of offices securing a premier position in sub-Saharan Africa.
C Contacts :
Rod Macleod +27 11 550 6006 rod.macleod@imara.co Dave Stone +267 267 318 8009 dave.stone@imara.co Mike Burrell +27 11 550 6001 mike.burrell@imara.co Nick Ralph +263 263 4 701 320 nick.ralph@imara.co Gerhard Hametner +971502892935 sgh@mac-sharaf.com

Branch network
UAE

BOTSWANA SOUTH AFRICA

ZIMBABWE

Africa: Gaborone: Johannesburg: Harare: (associate) Dubai: (representative)

UnitedKingdom Nigeria Ghana Guinea Uganda Kenya Tanzania Malawi Zambia Zimbabwe Botswana Swaziland SouthAfrica

Execution experience

Core Services
Category
Capital Cap ta Markets a ets

Services
IPOs RightsOffersandClawBacks Underwriting BondandDebtIssues OriginationandResearch Valuations(includingfairandreasonableopinions) Structuring FundRaising ControlledDisposalProcesses Prefeasibilityresearch Pathwaydetermination Partneringagreements Tradesalesand/orIPOs Corporate restructuringsandgeneralstrategicadvice toenhanceshareholdervalue

Sectors

M&A

Privatisation

Telecommunications, Banking,RealEstate,Mining andMetals,Financial Services,Food,Beverages andManufacturing, CommercialAgricultureand DownStreamProcessing (Tobacco Sugar, (Tobacco, Sugar Grains, Grains Protein),Information Technology,MotorIndustry, IndustrialHoldings, Engineering, Marine, ,Logistics. g

Advisory

African credentials

African credentials

African credentials

African credentials

The Team

The Team
Roderick MacLeod, BCom LLB CAIB (SA) HDip FMiI Head of Corporate Finance Rod MacLeod is a Certified Associate of the Institute of Bankers. He joined Barclays Bank, being promoted to Barclays Merchant Bank in 1982 and then seconded to the London office in 1985. On his return to South Africa in 1988, Rod was appointed as Senior Advisor at FirstCorp dealing with M&A, M&A MBO and private equity opportunities. opportunities In 1990, 1990 Rod joined AP&CI responsible for the Group Groups s acquisition growth strategy. He joined Janus as a director and shareholder in 1995. Nick Ralph, B Com (UCT), CA (Z) Head of Corporate Finance Zimbabwe Nick is a chartered accountant who qualified with Deloitte in Zimbabwe and subsequently worked with them in New York and London before returning to Zimbabwe. He returned to Zimbabwe in 2001 to work as the Finance Director for Mitchell & Mitchell, at the time the largest horticultural export operation in Zimbabwe. Zimbabwe Between 2005 and 2008 he ran his own consultancy business before joining Imara as head of corporate finance Zimbabwe. Mike Burrell, CA, Hons. BCompt Head of Corporate Finance South Africa Mike was previously an executive director of the New Republic Bank and also held senior positions at Mercantile Bank. He holds a Diploma in Advanced Banking. Mike joined Imara after being self-employed for a number of years and has been involved in numerous corporate finance and investment banking transactions, transactions both from a listed and an un-listed perspective in South Africa. Africa Shepherd Mahowa, B Acc (Zim), Dip Acc (Zim), CA (Zim), CA (SA) Shepherd qualified as a Chartered Accuountant with KPMG in Zimbabwe before working in commerce with a wide variety of corporates, including TA Holdings and Zimnat Lion where he was the finance director. In 2004 he moved to South Africa where he worked with a number of financial services firms including Ernst & Young. He joined Imara in 2008. Markus de Klerk, BA (LLB) (Natal) Markus is a registered legal practitioner in Zimbabwe and has 17 years experience in commercial legal matters, corporate administration and the financial services sector in SADC. Before joining Imara he was legal counsel for Ecobank Zimbabwe and its parent company, Ecobank Transnational Incorporated, listed in both Ghana and Nigeria. Prior to this he was Group Legal Counsel and Company Secretary for BancABC Limited, listed on both the BSE and ZSE. Markus has a well developed network of professional contacts in the SADC region and has an in-depth knowledge of the legal, social and business issues pertaining to financial institutions.

The Team (cont) ( )

Mukudzei-Ishe Zhou, B. Bus.Sc. (UCT) Kudzi joined Imara Corporate Finance in January 2008, and has three years experience in corporate finance. Previously he performed work for Standard Bank, Corporate Investment Bank in South Africa. Kudzis key areas of competence are valuations techniques, comprehensive financial modelling, and corporate structuring. He graduated from the University of Cape Town (UCT) in December 2006, where he obtained a Bachelor of Business Science degree, with additional majors in Accounting and Economics. Tawanda Masose, B. Comm (Finance and Banking) Murdoch University (WA) Australia Tawanda joined Imara Corporate Finance from KPMG Chartered Accountants (Zimbabwe) in August 2010. At KPMG he was part of the Corporate Finance and Transaction Services team as an analyst where he advised international and domestic corporates on transaction i aspects ranging i f from valuations l i and di investment li licence applications li i to performing f i commercial i ld due dili diligence reviews i on listed and unlisted Zimbabwean companies. His sectors experience includes; FMCG, Agro Processing, Telecoms, Insurance and Banking. Tawanda graduated from Murdoch University in February 2006, where he obtained a Bachelor of Commerce with a majors in Finance and Banking Tinotenda Kambasha, B. Econ (Rhodes) Ti joined Tino j i d Imara I Asset A Management M i in 2007 as a P Portfolio f li M Manager and dh has structured di investments f for P Pension i F Funds, d companies i and individuals where he gained wide experience in trading and transaction execution. Tino sat on the investment committee for three years and managed over US$100 million on the ZSE and various money markets instruments. In September 2010, Tino joined Imara Corporate Finance from Imara Asset Management. He graduated from Rhodes University where he obtained a Bachelor of Economics and an Industrial Psychology degree.