AVENG LIMITED - Response to announcement by Murray2 Aug 2018
AEG AEGCB 201808020031A
Response to announcement by Murray & Roberts and change to date of results announcement

(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
Share code: AEG
Share ISIN: ZAE000194940
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
("Aveng", "the Company")


Murray & Roberts (M&R) transaction

Aveng shareholders' are referred to the M&R announcement published on SENS earlier this morning in
relation to the ruling by the Takeover Special Committee which (i) overturned the Takeover Regulation
Panel approval granted to M&R in terms of section 126 of the Companies Act, 2008 on 21 June 2018;
and (ii) prohibits M&R from continuing to develop the potential combination of M&R and Aveng whilst
the mandatory offer by Aton GmbH in relation to M&R remains in place.

M&Rís intention to further engage with the Company is noted. At time of this announcement, no formal
correspondence has been received from M&R in this regard.

Capital Markets Transaction and Disposals

Given the above development in relation to the M&R transaction, the Company continues with its
Capital Markets Transaction (as defined in previous SENS announcements) and specifically the Early
Bond Redemption; and the disposal of non-core assets and properties.

As previously communicated, Aveng remains of the view that the implementation of the Early Bond
Redemption as soon as practically possible is in the best interest of all stakeholders, should the M&R
offer not be made within a reasonable time period. Deleveraging the Company to reduce its debt
burden and to improve liquidity is critical to unlock value for Aveng shareholders.

The Company anticipates the announcement of the detailed terms of the Early Bond Redemption during
the week of 10 August 2018.

Date of results announcement

The Company will release its results for the financial year ended 30 June 2018 on Tuesday, 25
September 2018. The postponement from the scheduled date of 21 August 2018 is to allow sufficient time
to incorporate and report on the effect of the various corporate actions previously announced on SENS.

Cautionary announcement

Shareholders are accordingly advised to continue to exercise caution when dealing in the Companyís
securities until a further announcement is made.

Jet Park
2 August 2018

JSE Sponsor
UBS South Africa Proprietary Limited

Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

Date: 02/08/2018 11:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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