THE MAJOR SHAREHOLDERS, and OTHER STAKEHOLDERS

Cape Town-based investment company, Basileus Capital holds an effective 55 per cent interest in Avalloy, through two separate investment vehicles, SA Superalloys and Basileus Investment Ventures 1 (Pty) Ltd.

One of Avalloy’s largest current customers of its nickel based superalloys is Rolls-Royce, which also acquired a 15 per cent equity interest in 2007. Avalloy sees Rolls-Royce as a strategic partner that will assist in growing the business and adding significant value to the company.

Sponsors and Advisers and Key Role Players

Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air and operates in four global markets – civil aerospace, defence aerospace, marine and energy. It continues to invest in core technologies, products, people and capabilities with the objective of broadening and strengthening the product portfolio, improving efficiency and enhancing the environmental performance of its products.

The company seeks to add value for its customers with aftermarket services that will enhance the performance and reliability of its products. Rolls-Royce has a broad customer base of 600 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,000 marine customers including 70 navies, and energy customers in 120 countries. Rolls- Royce is a technology leader, employing 38,000 people in offices, manufacturing and service facilities in 50 countries.

Rolls-Royce is currently listed on the London Stock Exchange (LSE) and has a market capitalisation of around £6 billion. This results in Rolls-Royce having the 32nd largest market capitalisation on the LSE. Rolls-Royce is also a constituent of the FTSE-100 index.

Rolls-Royce holds a 15% interest in Avalloy and this interest was purchased on 12 April 2007.

Nedbank Capital is a division of Nedbank Limited (listed on the South African bourse) which comprises the group’s investment banking businesses that together manage the structuring, lending and underwriting activities and all trading and broking activities in the equity, capital, interest rate, and foreign exchange and derivative markets.

With a full product spectrum that stretches from equity research to the provision of long-term project financing, Nedbank Capital is able to compete effectively in the southern African market.

Nedbank Capital seeks to provide seamless specialist advice, debt and equity raising and execution, and trading capabilities in all the major South African business sectors. Principal clients include the top 200 domestic corporates, parastatals, leading financial institutions, non-South African multinational corporates and clients undertaking major infrastructure and mining projects in Africa, as well as emerging BEE consortiums.

Within Nedbank Capital, Specialised Finance provides debt-financing solutions with a portfolio of services, including project finance, leveraged debt, acquisition finance, structured trade and commodity finance and structured financial solutions. The division also has three sectoral specialist teams that serve as Nedbank Capital’s knowledge hub in energy, infrastructure, and mining and resources. In addition, the division covers retail, healthcare and diversified industrials.

The Basileus Group was formed in March 2008 by Julian Williams and James Ngculu. The Group’s primary focus is on finding and developing business opportunities. The Basileus Group includes Basileus Investment Holdings (Proprietary) Limited, which is the Group’s vehicle for projects and companies it is involved with and Basileus Capital (Proprietary) Limited which is the primary operational business within the Basileus Group and its business is to advise, organise, operate and support the group’s investments and houses advisory, corporate finance, investment management, capital structuring and related skills. Basileus Holdings is the holding company for the Basileus Group.

Basileus grew out of the Abante Group, Julian Williams and James Ngculu served within the Abante Group as Chief Executive for 6 years and Non-Executive Deputy Chairman for 2 years respectively. During their association Williams and Ngculu founded numerous companies including Wesizwe Platinum Limited. As Wesizwe grew and was able to establish its own management team, Williams and Ngculu were able to let go of the day-to-day involvement of Wesizwe and focus their energies on other early stage projects. One such project, Great Karoo Metals, which was created as a uranium explorer was recently sold to Uramin-Lukisa JV Company (Proprietary Limited), a subsidiary of Uramin Inc, part of the Areva Group.

Basileus holds a 15% interest in Avalloy through Basileus Investment Ventures 1 (Pty) Ltd. This interest was purchased on the 8 may 2008. The Basileus Group is the ultimate holder of SA Superalloys and advisor to Avalloy.