High Level presentation of the business rescue plan of the
Stedone Group
Presented by KJ Gribnitz
To the Creditors meeting held on the
24 April 2013

Was managed as a group regardless of it being separate companies
Sureties signed for other group companies
Many Intergroup loans which can be demanded
Assets and liabilities in different companies
Main business units carry risk for all other entities
Reorganise the assets and the focus operations on making money again
Protect the assets & contract while in BRP
Place a moratorium & may compromise debt
Restructure the funding of the balance sheet and
Instil financial discipline
Introduce strict capital management techniques
Increase the current profitability of contracts
Dispose of non core assets & fixed costs
Consolidate the assets where necessary
Create a consolidated group with equity in a new holding company

0 to 4 months 1 to 6 months 1 to 9 months 4 to 9 months
Phase 1 Phase 2 Phase 3 Phase 4
Business Rescue Restructure Operations Corporate Re-organisation Entrenchment Phase
Compliance with Act Improve financial reports Consolidate the group Establish a new culture
Stop SARS hold on funds
Stop ongoing losses
Raise working capital
Merge skills & contracts
Resource optimization
Re-focus the business
Corporate Governance
Create risk committee
Compliance with Act
Obtain new work
Re-launch the company
Prepare 3 year plan
Communication plan Create incentive scheme Appoint a new board Hand over the company

Remuneration of the SBRP for the Stedone Group
• Stedone Developments (Pty) Ltd (In Business Rescue)
• R 1 600,00 per hour exclusive of VAT with a maxim of R 19 200,00 per day exclusive of VAT;
• Stedone Civils (Pty) Ltd (In Business Rescue)
• R 1 600,00 per hour exclusive of VAT with a maxim of R 19 200,00 per day exclusive of VAT;
• Stedone Investments (Pty) Ltd (In Business Rescue)
• R 1 200,00 per hour inclusive of VAT with a maxim of R 14 400,00 per day exclusive of VAT;
• Hazycrest (Pty) Ltd (In Business Rescue)
• R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT;
• FMG Admin Services CC (In Business Rescue)
• R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT;
• Sted Stores CC (In Business Rescue)
• R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT;
• Dura Industrial Park CC (In Business Rescue)
• R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 p/h inclusive of VAT; -
• Contingent upon the companies paying salaries and wages for the month of April 2013, and hours will be charged as a total and allocated to the various companies as above.

Karl Gribnitz