Results announcement in respect of the Aveng follow on rights offer and dealings by directors and prescribed officer
AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Company")
RESULTS ANNOUNCEMENT IN RESPECT OF THE AVENG FOLLOW ON RIGHTS OFFER AND
DEALINGS BY DIRECTORS AND PRESCRIBED OFFICERS
Introduction
Shareholders are referred to the declaration announcement published by the Company on SENS on Tuesday,
11 May 2021 wherein shareholders were advised of the Company's intention to raise R100 000 000 through a
fully co-underwritten renounceable follow on rights offer ("Follow on Rights Offer") of up to 6 666 666 668
ordinary no par value shares in Aveng ("Aveng Ordinary Shares") and class A shares ("Aveng Class A
Shares"), as contemplated in the Follow on Rights Offer circular ("Follow on Rights Offer Shares"). The
Follow on Rights Offer was made to qualifying shareholders at a subscription price of 1.5 cents per Follow on
Rights Offer Share, in the ratio of 11.47941 Follow on Rights Offer Shares for every 100 Aveng Ordinary
Shares and/or Aveng Class A Shares held on the Follow on Rights Offer record date, being Friday, 21 May
2021. Shareholders are also referred to the finalisation announcement published by the Company on SENS
on Thursday, 13 May 2021 setting out the final terms of the Follow on Rights Offer and the Follow on Rights
Offer circular dated Monday, 17 May 2021 ("Follow on Rights Offer Circular").
Capitalised words and terms contained in this announcement shall bear the meanings ascribed thereto in the
Follow on Rights Offer Circular.
Shareholders are advised that the Company has successfully completed the Follow on Rights Offer, raising
total new capital of R100 000 000, comprising R89 523 260 in terms of the Follow on Rights Offer Shares
taken up by shareholders who followed their rights and an additional R10 476 740 taken up by the
Underwriters, in terms of the Underwriting Agreement.
Results of the Follow on Rights Offer
The Follow on Rights Offer closed at 12:00 (SAST) on Friday, 4 June 2021. The total number of Follow on
Rights Offer Shares available amounted to 6 666 666 668 and the number subscribed for was 4 574 843 251
Aveng Ordinary Shares and 1 393 374 057 Aveng Class A Shares, representing 90% of the available Follow
on Rights Offer. The Underwriters took up the remaining 698 449 360 shares in terms of the Underwriting
Agreement split between 339 306 699 Aveng Ordinary Shares and 359 142 661 Aveng Class A Shares.
On completion of the Follow on Rights Offer there are 1 310 094 046 unallocated Aveng Ordinary Shares.
Accordingly, the Company will make an application to the JSE to request the delisting of these unallocated
Aveng Ordinary Shares.
Issue of Follow on Rights Offer Shares
The custody accounts with CSDPs or brokers of shareholders who have followed their rights were credited
with their Follow on Rights Offer Shares and debited with the relevant subscription price, Monday, 7 June
2021. Share certificates (in respect of certificated shares) will be posted by registered post, at the
shareholder's risk to the certificated shareholders to the extent to which they have accepted the Follow on
Rights Offer.
1
Dealings by directors and prescribed officers
Participation by directors in the Follow on Rights Offer
Shareholders are advised that pursuant to the Follow on Rights Offer, certain directors of the Company
followed their rights as shareholders in the Company, the details of which are as follows:
Name of director: SJ Flanagan
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 137 752 920
Price per security: 1.5 cents
Total value of transaction: R2 066 294
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: AH Macartney
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 137 865 573
Price per security: 1.5 cents
Total value of transaction: R2 067 984
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: MJ Kilbride
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 30 312
Price per security: 1.5 cents
Total value of transaction: R455
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Participation by prescribed officers in the Follow on Rights Offer
Shareholders are advised that pursuant to the Follow on Rights Offer, certain prescribed officers of the
Company followed their rights as shareholders in the Company, the details of which are as follows:
Name of prescribed officer: J Govender
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 36 734 112
Price per security: 1.5 cents
Total value of transaction: R551 012
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
2
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of prescribed officer: R Engelbrecht
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 18 367 056
Price per security: 1.5 cents
Total value of transaction: R275 506
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of prescribed officer: SV Cummins
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 73 468 224
Price per security: 1.5 cents
Total value of transaction: R1 102 023
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of prescribed officer: D Morrison
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 36 734 112
Price per security: 1.5 cents
Total value of transaction: R551 012
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Indirect beneficial
Clearance to deal received: Yes
Name of prescribed officer: L Tweedie
Transaction date: 4 June 2021
Class of securities: Ordinary no par value shares
Number of securities: 18 367 056
Price per security: 1.5 cents
Total value of transaction: R275 506
Nature of transaction: Participation in Follow on Rights Offer
Transaction completed on/off-market: on-market
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
3
Johannesburg
7 June 2021
JSE Sponsor: UBS South Africa (Pty) Ltd
Transaction advisor: DG Capital (Pty) Ltd
Legal Advisor: Baker & McKenzie Inc.
4
Date: 07-06-2021 05:02:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |