AVENG LIMITED - Aveng circular - follow-on rights6 Apr 2021
Aveng circular - follow-on rights offer and notice of extraordinary general meeting

Aveng Limited
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
(“Aveng” or “the Company”)


1.   Introduction

     Shareholders are referred to the announcement published on SENS on Tuesday, 23 March
     2021 in terms of which the Company announced the successful completion of the R300 million
     rights offer which closed on Friday, 19 March 2021 (the "Initial Rights Offer"). It was noted that
     the Initial Rights Offer received greater than expected interest. Immediately following the Initial
     Rights Offer, certain shareholders of the Company indicated a willingness to provide further
     capital to support the Company. Such additional capital was not anticipated at the time of
     developing the Balance Sheet Restructure Transaction (as defined in the Initial Rights Offer
     circular). The additional capital would provide the Company with an opportunity to (i) further
     solidify its balance sheet, (ii) accelerate its business plan, and (iii) fund identified growth
     opportunities which will provide attractive returns, mainly in the Moolmans business.

     In order to raise the abovementioned additional capital, Aveng intends to launch a further co-
     underwritten, renounceable rights offer to raise up to R100 million from shareholders (the
     "Follow-on Rights Offer"). In order to do so, Aveng requires the approval of its shareholders.
     The details of the Follow-on Rights Offer will be set out in the Aveng circular.

     The circular is available on the Company’s website https://www.aveng.co.za/circular.php

2.   Notice of Extraordinary General Meeting and salient dates

     Notice is therefore given that a circular convening an Extraordinary General Meeting of
     shareholders (“EGM”) has been posted on Tuesday, 6 April 2021. The EGM will be held on
     Wednesday, 5 May 2021 in order to consider and, if deemed fit, pass the resolutions detailed in
     the circular to allow Aveng to proceed with the Follow-on Rights Offer.

     Salient dates pertaining to the EGM are detailed below.


Record date to be eligible to receive this circular                                     Friday, 26 March

Date of issue of this circular                                                        Tuesday, 6 April

Last Day to Trade to participate in and vote at the Extraordinary General            Tuesday, 20 April

Voting Record Date to participate and vote at the Extraordinary General                Friday, 23 April

Deadline for purposes of lodging proxy forms with the Transfer Secretaries (for        Monday, 3 May
administrative purposes, 48 hours prior to the Extraordinary General Meeting)
by 09:00 on

Written notice to participate electronically in the Extraordinary General Meeting      Monday, 3 May
to be delivered to the Transfer Secretaries by 09:00 on

Extraordinary General Meeting to be held at 09:00 on                                Wednesday, 5 May

Results of the Extraordinary General Meeting to be released on SENS                   Thursday, 6 May

6 April 2021
Melrose Arch

JSE Sponsor
UBS South Africa Proprietary Limited

Edinah Mandizha
Company Secretary
Tel: 011 779 2800
Email: info@avenggroup.com


Date: 06-04-2021 01:59:00
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