AEG AEGCB 201807020038A
RESULTS OF THE RIGHTS OFFER
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
Share code: AEG
Share ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
("Aveng", or "the Company" )
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA OR JAPAN. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR
FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.
RESULTS OF THE RIGHTS OFFER
• R493.2m Rights Offer proceeds raised
• 98.6% Rights Offer uptake
• Successful Rights Offer significantly improves Aveng liquidity and financial position
Aveng shareholders are referred to the announcement released on the Stock Exchange News Service on 5 June
2018, declaring the Company’s intention to undertake a renounceable Rights Offer (“Rights Offer”) to Qualifying
Shareholders, as defined in the Rights Offer circular dated 14 June 2018 (“Rights Offer Circular”), to raise up to
The Rights Offer consisted of an offer of 5 billion new ordinary Aveng shares (the “Rights Offer Shares”) to be
issued in the ratio of 1199.98772 Rights Offer Shares for every 100 ordinary Aveng shares held on the record date
for the Rights Offer, at a subscription price of R0.10 per Rights Offer Share (“Rights Offer Price”).
2. Results of the Rights Offer
The Rights Offer closed at 12:00 (South African time) on Friday, 29 June 2018. The total number of Rights Offer
Shares subscribed for and excess allocations applied for was 4,931,854,395 Rights Offer Shares, representing
98.6% of the Rights Offer. Following the Rights Offer, the total number of Aveng shares in issue (including treasury
shares) will be 5 348 525 326. An aggregate amount of c.R493.2 million will be raised by the Company.
3. Working capital statement
Aveng shareholders are referred to the working capital statement contained in the Rights Offer Circular.
4. Issue of Rights Offer Shares
Share certificates will be posted to holders of certificated shares who have followed their rights on Monday, 2 July
The CSDP or broker accounts of holders of dematerialised shares or their renouncees, who have followed their
rights, will be credited with the Rights Offer Shares and debited with any payments due on Monday, 2 July 2018.
5. Excess applications
Excess applications have been allocated in full.
Share certificates will be posted to holders of certificated shares, who have been allocated excess Rights Offer
Shares on Wednesday, 4 July 2018.
The CSDP or broker account of holders of dematerialised shares who have been allocated excess Rights Offer
Shares, will be credited with the excess Rights Offer Shares and debited with the payments due on Wednesday, 4
2 July 2018
Jet Park, Johannesburg
Financial advisor and transaction sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
This announcement is restricted and is not for release, publication or distribution, in whole or in part, directly or
indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction in which such release,
publication or distribution would be unlawful. This announcement is for information purposes only, does not
purport to be full or complete, is subject to change and shall not constitute or form part of an offer or solicitation of
an offer to purchase or subscribe for securities in the United States or any other jurisdiction. No reliance may be
placed for any purpose on the information contained in this announcement or its accuracy or completeness.
The Rights Offer shares have not been and will not be registered under the United States Securities Act of 1933,
as amended (the "Securities Act"), and may not be offered or sold, directly or indirectly, in the United States,
absent registration or an exemption from, or transaction not subject to, the registration requirements of the
Securities Act. There will be no public offer of the Rights Offer shares in the United States.
Neither this announcement nor the Rights Offer constitutes or is intended to constitute an offer to the public in
South Africa in terms of the South African Companies Act 71 of 2008 (as amended).
In member states of the European Economic Area (“EEA”) which have implemented the Prospectus Directive
(each, a “Relevant Member State”), this announcement and any offer if made subsequently is directed
exclusively at persons who are “qualified investors” within the meaning of the Prospectus Directive (“Qualified
Investors”). For these purposes, the expression “Prospectus Directive” means Directive 2003/71/EC (and
amendments thereto, including Directive 2010/73/EU, to the extent implemented in a Relevant Member State),
and includes any relevant implementing measure in the Relevant Member State.
In the United Kingdom this announcement is only being distributed to, and is only directed at, and any investment
or investment activity to which this announcement relates is available only to, and will be engaged in only with,
Qualified Investors who are (i) investment professionals falling with Article 19(5) of the UK Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within
Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise be lawfully communicated (all
such persons together being referred to as “relevant persons”). Persons who are not relevant persons should not
take any action on the basis of this announcement and should not act or rely on it.
This announcement has been issued by and is the sole responsibility of Aveng. No representation or warranty,
express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted
by the advisers or by any of their respective affiliates or agents as to, or in relation to, the accuracy or
completeness of this announcement or any other written or oral information made available to or publicly
available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated
with an investment in the securities. Any investment decision to buy securities in the Rights Offer must be made
solely on the basis of publicly available information which has not been independently verified by Rand Merchant
Bank (A division of FirstRand Bank Limited).
Rand Merchant Bank (A division of FirstRand Bank Limited) is acting for Aveng and no one else, in connection
with the Rights Offer and will not be responsible to anyone other than Aveng for providing the protections offered
to clients of the advisers, nor for providing advice in relation to the Rights Offer.
Date: 02/07/2018 02:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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