Compagnie du Cambodge (ENXTPA:CBDG) made an offer to acquire 12.06% stake in Société Africaine Forestière Agricole (ENXTPA:MLSAF) for €5.6 million on October 2, 2012. The offer per share is €80. The offer is for 0.07 million shares. The offer period is from October 3, 2012 to November 6, 2012. The transaction will be financed from the existing resources. If the Bollore group owns more than 95% stake, a squeeze out followed by mandatory delisting will be followed. The offer will not have any impact on the employment strategy, composition of Board of SAFA. The Offer has not been subject to review and/or approval from any regulatory authority. The transaction was unanimously approved by the Board of Société Africaine Forestière Agricole. The results of the offer are expected to be announced by November 9, 2012.

Didier Kling, Dominique Mahias, Christophe Bonte, Hugues Morize, Guillaume Giné and Amal Taour of Didier Kling & Associés acted as the fairness opinion provider for the Board of Société Africaine Forestière Agricole. The remuneration paid to Didier Kling & Assoscies is €45,000. Natixis Equity Markets acted as transfer agent for Compagnie du Cambodge. Olivier Biraud, Pierre Foucry, Andrea Gasparini of Mediobanca di Credito Finanziario S.p.A. acted as the financial advisor for Compagnie du Cambodge. Natixis Equity Markets acted as the broker for Compagnie du Cambodge. CM-CIC Securities acted as the financial advisor for Société Africaine Forestière Agricole.