AVENG LIMITED - Notification of the voting results30 Aug 2018
AEGCB AEG 201808300035A
Notification of the voting results in respect of bondholders meeting

Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG        ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
(“Aveng” or “the Issuer”)


Bondholders are referred to the notice of meeting released on SENS on 8 August 2018, the meeting of which was held today, 30 August 2018 at the offices of
Baker McKenzie at 1 Commerce Square, 39 Rivonia Road, Sandhurst, Johannesburg, 2196 (“the Bondholders Meeting”) at which the Extraordinary
Resolution set out below was considered.

Extraordinary Resolution Number 1:
To the extent that the Issuer early redeems the Bonds pursuant to Condition 10.2(d) of the Conditions through the issue of new Ordinary Shares, the
Bondholders hereby approve such redemption of the Bonds then outstanding at 100% of their Principal Amount, together with accrued interest by allotting
and issuing to or for the benefit of the relevant holder of each such Bond such number of Ordinary Shares as is determined by dividing the relevant
redemption amount of the Bond by the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on 29 June
2018, being 10 cents per Ordinary Share.

In this regard, the Issuer confirms the voting results from the Bondholders Meeting in relation to the total nominal amount of all debt securities of the Issuer
as follows:

Number of bond units in issue: 200,000

Extraordinary             Debt securities voted     Debt securities voted in       Votes abstained as a        Votes carried for           Votes against
Resolution                in person or by proxy     person or by proxy             percentage                  resolution as a             resolution as a
                          disclosed as a number     disclosed as a                                             percentage (voted on at     percentage (voted on at
                          (each bond has a          percentage                                                 the meeting)                the meeting)
                          Principal value of
Number 1                               158,881                      79.4405%                         0%                            100%                         0%

30 August 2018

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: 30/08/2018 01:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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