Lereko Mobility (Pty) Ltd ("Lereko Mobility")

In April 2005 Imperial Holdings Ltd ("Imperial") sold a 7.25% stake to Lereko Mobility (a company 49% owned by Imperial and 51% owned by a broad based consortium led by Lereko) for the equivalent of R1,4 billion.

Imperial is one of South Africa’s largest companies operating in the wider transportation and mobility markets in Southern Africa, Europe and the United Kingdom. The group's activities in these markets encompass a wide range of related sales and services:

• Integrated logistics solutions, combining asset ownership and intellectual capital
• Fleet management
• Vehicle and forklift leasing
• Aviation operations, sales and leasing
• Car rental and tourism
• Motor vehicle importation, sales and after-sales services
• Related financial services businesses aimed at extracting further value from our mobility product offerings.

The transaction was effected through the specific issue of 14.5 million new preferred ordinary shares in Imperial to Lereko Mobility. Lereko Mobility funded the acquisition of the preferred ordinary shares and associated transaction costs by raising equity capital of R2 million from the Lereko consortium, raising subordinated funding of approximately R458 million through the issue of debentures to scheme participants, and raising senior funding of approximately R375 million through the issue of redeemable preference shares to financial institutions.

Dr Popo Molefe and Valli Moosa serve on the board of Imperial Holdings bringing a depth of experience and a strong network of relationships having held senior positions in public office. Dr Lulu Gwagwa and Dr Popo Molefe also provide knowledge and experience to companies within the Imperial Group serving on Amasondo Fleet Services Board and Imperial Leasing and Fleet Management Services Board respectively.