Renewal of cautionary
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
SHARE CODE: AEG
("Aveng", "the Company" or “the Group”)
PROFORMA FINANCIAL EFFECTS AND RENEWAL OF CAUTIONARY
PROPOSED INTRODUCTION OF AN ECONOMIC EMPOWERMENT PARTNER INTO THE BUSINESS
CONDUCTED BY AVENG GRINAKER-LTA
With the intention of substantially transforming the Aveng Grinaker-LTA Business ("Business"), on 11 October 2016,
the Group advised shareholders that Aveng Africa (Pty) Ltd ("Aveng Africa"), a wholly owned subsidiary of Aveng
Limited, has entered into binding agreements with Kutana Construction (Pty) Ltd (“Kutana Construction”) whereby
Kutana Construction will acquire a 51% Beneficial Interest (which as a result of a non-voting equity instrument
structure converts to effectively a 45% economic interest ("Economic Interest"), in the Business on 1 February 2017,
(the "Proposed Transaction").
The net asset value of the Business as at 30 June 2016 was R369 million. The after taxation loss attributable to the
interest for the year ended 30 June 2016 was R112 million.
Renewal of Cautionary
Aveng Africa (Pty) Ltd is still in discussions in relation to the sale of Aveng Trident Steel and shareholders will receive
a further update in this regard in due course.
Therefore shareholders are advised to continue to exercise caution when dealing in their Aveng securities.
Independent JSE Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd
By Order of the Board
22 November 2016
Group Executive: Investor relations
Tel: 011 779 2979
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