HOME     SUBSCRIBERS     TRADE     PRODUCTS & SERVICES    
About Sharenet
Enter any share name or code:    

02-Nov-2018
(Official Notice)
15-Oct-2018
(Official Notice)
Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018, in relation to the agreement entered into by Aveng and Equites Property Fund Ltd. ("Equites") regarding the proposed disposal of its Jet Park property ("Proposed Transaction").



Further to the abovementioned announcement, the parties have agreed to amend the purchase price payable by Equites for the Jet Park property from ZAR211.2 million, net of commission to ZAR 185,7 million, net of commission, with a possible top up of ZAR 26 million ("Top Up").



The Top Up will be payable upon Aveng obtaining the consent from the South African Civil Aviation Authority, Air Traffic Navigation Services and/or any other relevant airport regulator, for Equites to build on the Jet Park property in excess of 1716 meters above sea level ("Consent"). In order for Aveng to be paid the Top Up, the Consent must be obtained prior to the date on which Equites commences clearing the Jet Park property, following the termination of the lease, as per the sale and lease back agreement.



Posting of Circular

Aveng shareholders are hereby advised that a circular containing full details of the Proposed Transaction and incorporating a notice convening a general meeting of the Company?s shareholders (?General Meeting?) for purposes of considering the resolutions necessary to approve the Proposed Transaction (?the Circular?), is being distributed on Monday, 15 October 2018, to all shareholders of the Company registered as such as at Friday, 5 October 2018.



The Circular is also available on the Company?s website, namely www.aveng.co.za/investor- centre/shareholders-circulars



Notice of the General Meeting

Notice was given that the General Meeting will be held at Aveng Park, Main Boardroom, Block A, 1 Jurgens Road, Jet Park, 1459 Boksburg on Friday, 16 November 2018 at 09h00, to consider, and, if deemed fit, to approve the resolutions in regard to the Proposed Transaction to be considered thereat, which resolutions are contained in the Circular.
03-Oct-2018
(Official Notice)
25-Sep-2018
(C)
20-Sep-2018
(Official Notice)
13-Sep-2018
(Official Notice)
Shareholders are referred to the announcement released on SENS on 17 July 2018, wherein shareholders were advised that Ms Edinah Mandizha had been appointed as Aveng?s Acting Company Secretary with effect from 17 July 2018.



Shareholders are advised that Ms Mandizha has been appointed as Aveng?s Group company secretary, with immediate effect.
11-Sep-2018
(Official Notice)
10-Sep-2018
(Official Notice)
Aveng shareholders are advised that at the general meeting held on 10 September 2018, the requisite majority of shareholders approved all the resolutions, as set out in the notice of the general meeting, necessary to proceed with the early redemption (the "Early Bond Redemption") of the convertible bonds still outstanding (the ?Convertible Bonds?) and the issue of new Aveng shares at the rights offer price of 10c (?Specific Issue?).



As such, Aveng announced that the implementation of the Specific Issue is unconditional and will proceed according to the timing set out below.



The positive vote by shareholders t in favour of the Specific Issues of Aveng ordinary shares to settle the Convertible Bonds before their July 2019 maturity date is a clear vote of confidence in the Company?s strategic action plan. Aveng remains firmly of the view that the implementation of the Early Bond Redemption is in the best interest of all its stakeholders. The positive vote by shareholders is an important step forward in this process. The implementation of the Specific Issue, which shares are to be issued on Tuesday, 25 September 2018, will complete one of the pillars of the strategic action plan. This provides a platform that allows the Company to complete the execution of the other pillars of the strategic action plan.



Management and the Board is encouraged by the level of support for the strategy received from major stakeholders. This includes the Company?s largest single shareholder Aton, who have engaged with the Company in a positive manner and have expressed their support for Aveng?s continued independent future.



Salient Dates of the Early Bond Redemption

* Last Date to Trade to determine which bondholders are to be issued new Aveng shares in the Early Bond Redemption: Tuesday, 18 September

* Ex-date and the listing of the Convertible Bonds suspended on the Main Board of the JSE: Wednesday, 19 September

* Record date to determine which bondholders are to be issued new Aveng shares in the Early Bond Redemption: Friday 21 September

* Early Bond Redemption: Tuesday 25 September

* Ordinary shares issued to bondholders and CSDP or broker accounts updated: Tuesday, 25 September

* Convertible Bonds terminated on the JSE: Wednesday 26 September
07-Sep-2018
(Official Notice)
Aveng announced its strategic action plan in February 2018 following the completion of a thorough strategic review, which was undertaken with the assistance of an independent advisor. The aim of the strategic action plan was to create a robust and sustainable group. Following the announcement, the implementation of the strategic action plan has focused on:

* Ensuring a long term sustainable capital structure for the Group

* Creating liquidity through the sale of non-core businesses and assets; and

* Increased focus on our core businesses.



Trading statement

Shareholders are advised that the headline loss per share (?HEPS loss?) for the 12 months ended 30 June 2018 will be more than 100% better than the comparative period. The HEPS loss will be between 297 cps and 329 cps, compared to a reported loss of 1625.3 cps in 2017 (adjusted for the deemed bonus element of the rights offer, 1196.9 cps in 2017), while the headline loss for the year will be between R1 602 million and R1 770 million, compared to a loss of R6 449 million in 2017.



The basic loss per share (?EPS loss?) will be more that 100% better than the comparative period. The EPS loss will be between 607 cps and 671 cps, compared to a reported loss of 1690.6cps in 2017 (adjusted for the deemed bonus element of the rights offer, 1245.0 cps in 2017), with basic loss in earnings of between R3 272 million and R3 616 million for the year, compared to a loss of R6 708 million in 2017.



4 931 854 395 Shares were taken up during the rights issue. The shares were only issued on 2 July 2018 resulting in an event after the reporting date. Consequently, the issued ordinary shares will only increase in the 2019 financial year. However, the weighted average number of shares for the review period and prior corresponding period have been adjusted in accordance with IAS 33, Earnings Per Share, in order to account for the deemed bonus element inherent in the rights issue as a result of the Rights Offer being priced at a discount to the market share price.



The Group is currently in the process of completing its financial statements and finalising the yearend audit. The Group will release its results for the financial year ended 30 June 2018 on 25 September 2018.
04-Sep-2018
(Official Notice)
30-Aug-2018
(Official Notice)
Bondholders are referred to the notice of meeting released on SENS on 8 August 2018, the meeting of which was held on Thursday, 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.
04-Sep-2018
(Official Notice)
Shareholders are hereby advised that Mr Joseph Juba Angelo Mashaba has resigned as Aveng Group executive director with effect from 31 August 2018.
29-Aug-2018
(Official Notice)
Aveng shareholders are referred to the announcement released on SENS on Wednesday, 8 August 2018 in which Aveng gave an update on the Early Bond Redemption. Capitalised terms used in this announcement are as defined in previous SENS announcements.



Aveng is pleased to announce the final terms of the Early Bond Redemption which is subject to final Shareholder and Existing Convertible Bondholder approval. The settlement of the Existing Convertible Bonds will consist of:

* The specific buyback of R657.15 million of Existing Convertible Bonds (including accrued interest) at a price of 70% of par, for a price of R460 million ("Specific Bond Buyback").

* The issue of a new debt instrument of R460 million to Participating Bondholders, the terms of which will rank pari passu with Aveng bank debt.

* The redemption of all outstanding Existing Convertible Bonds at par through a specific issue of Aveng Ordinary Shares at 10c, equivalent to the Rights Offer Price ("Specific Issue").



Salient dates

The salient dates in relation to the bondholder and shareholder meetings are outlined below:

*Meeting of Existing Convertible Bondholders to be held at 10:00 on Thursday, 30 August 2018

*Record date to participate in and vote at the General Meeting - Friday, 31 August 2018

*Last day and time to give notice to participate in the General Meeting electronically by 12:00 on Thursday, 6 September 2018

*Last day to lodge forms of proxy with the Transfer Secretaries to vote at the General Meeting by 09:00 on Thursday, 6 September 2018

*General Meeting of Shareholders to be held at 09:00 on Monday, 10 September 2018

*Results of General Meeting announced on SENS on Monday, 10 September 2018



Pursuant to obtaining the approval of the bondholders and shareholders as set out in paragraph above, the estimated date on which the Early Bond Redemption and thus the Specific Issue is to take place is on Tuesday, 25 September 2018.



Withdrawal of cautionary announcement

All information in relation to the Capital Markets Transaction has been announced and as such the cautionary relating to the Capital Markets Transaction is withdrawn.
08-Aug-2018
(Official Notice)
08-Aug-2018
(Official Notice)
Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018 as well as the Murray - Roberts Holdings Ltd. ("M-R") announcement published on SENS earlier this morning in relation to the potential combination of M-R and Aveng, stating that M-R has given Aveng formal notice that it will no longer be pursuing the M-R Transaction (as defined in previous announcements). The Company confirms that it is in receipt of such formal notice from M-R.



Capital Markets Transaction

As detailed in the announcement released on SENS on Thursday, 2 August 2018, Aveng remains of the view that the implementation of the Early Bond Redemption (as defined in previous SENS announcements) as soon as practically possible is in the best interest of all stakeholders and as such, given the recent developments in relation to the M-R transaction described above, the Company intends to continue with its Capital Markets Transaction (as defined in previous SENS announcements) and specifically the Early Bond Redemption. Deleveraging the Company to reduce its debt burden and to improve liquidity is critical to unlock value for Aveng shareholders.



Further detail in relation to the Early Bond Redemption is expected to be announced in due course.



Cautionary announcement

Shareholders are advised that the cautionary in relation to the M-R transaction is withdrawn. Shareholders are advised to continue to exercise caution when dealing in the Company?s securities until a further announcement is made in relation to the Capital Markets Transaction.
02-Aug-2018
(Official Notice)
02-Aug-2018
(Official Notice)
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-R?s 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 Company?s securities until a further announcement is made.
17-Jul-2018
(Official Notice)
Shareholders are referred to the announcement released on SENS on 4 May 2018, wherein shareholders were advised that Ms Michelle Nana had resigned as Aveng?s Group Company Secretary with effect from 30 June 2018.



Shareholders are advised that Ms Edinah Mandizha has been appointed as Aveng?s acting company secretary, with immediate effect.
11-Jul-2018
(Official Notice)
Shareholders are referred to the cautionary announcements released on the Stock Exchange News Service on 29 April 2018, 18 May 2018 and 29 May 2018. Aveng continues to progress both the Capital Markets Transaction (as defined in the previous SENS announcements) and engagement with Murray - Roberts in relation to the M-R Transaction (as defined in the previous SENS announcements), having regard to and considering the impact of Aton's acquisition of a 25.4 % interest in the Company.



These transactions, if successfully concluded, may have a material effect on the price of the Company?s securities.



Accordingly, shareholders of Aveng are advised to continue exercising caution when dealing in their securities until further details pertaining to the Capital Markets Transaction and the M-R Transaction are announced.
04-Jul-2018
(Official Notice)
The Issuer has received approval from the Bondholders of Aveng?s ZAR 2 000 000 000, 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds"), and subsequently, from the JSE for the amended Terms and Conditions of the Convertible Bonds.



The key amendments to the Terms and Conditions include:

* Condition 8.1 (b) relating to Interest on Bonds was amended. The result of this amendment is that interest due in respect of each Interest Period will be payable in arrears on the Interest Payment Date in respect of such Interest Period, either in cash or by capitalising same, in which event the Principal Amount of each Bond will be deemed to have been increased accordingly; and

* Condition 10.2 (d) relating to Redemption at the Option of the Issuer was inserted. The result of this amendment is that, subject to certain conditions, the Issuer may redeem all but not some only of the Bonds at an amount for each Bond to be proposed by the Issuer and approved by Extraordinary Resolution together with accrued interest. Unless redeemed at 100% of its Principal Amount together with accrued interest, in cash, the percentage of its Principal amount at which each Bonds is redeemed is subject to Bondholder approval at a Bondholder meeting.



The redemption amount payable by the Issuer shall be discharged as follows:

? the Issuer making a cash payment to or for the benefit of the relevant holder the Bonds; and/or

? the Issuer allotting and issuing to or for the benefit of the relevant holder of such Bonds such number of Ordinary Shares as is determined by dividing the relevant redemption amount of the Bonds by the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on or about 29 June 2018.



The salient dates surrounding the redemption will be announced once finalised.



The Supplement to the Convertible Bonds is available at the registered office of the Issuer and on their website, http://www.aveng.co.za/investor-centre
02-Jul-2018
(Official Notice)
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 R500 million.



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?).



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.



Working capital statement

Aveng shareholders are referred to the working capital statement contained in the Rights Offer Circular.



Issue of Rights Offer Shares

Share certificates will be posted to holders of certificated shares who have followed their rights on Monday, 2 July 2018.



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.



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 July 2018.
12-Jun-2018
(Official Notice)
In accordance with the terms and conditions (the "Conditions") of the Issuer's ZAR2 000 000 000, 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds"), dated on or about 23 July 2014, and the trust deed dated on or about 23 July 2014 between the Issuer and TMF Corporate Services (South Africa) (Pty) Ltd., then known as GMG Trust Company (SA) (Pty) Ltd. (the "Trust Deed"), notice is hereby given, in accordance with Condition 20.4 (Notice of Meeting) of the Conditions, that a meeting of the Bondholders will be held at 10h00 on Tuesday, 3 July 2018 at the offices of Baker McKenzie at 1 Commerce Square, 39 Rivonia Road, Sandhurst, Johannesburg, 2196 (the "Bondholders Meeting"), at which meeting the Extraordinary Resolutions will be considered and, if deemed fit, passed with or without modification.



Salient dates

The salient dates relating to the Bondholders Meeting are as follows:

* Record date to determine Bondholders entitled to receive Notice of Bondholder Meeting: Friday, 8 June

* Posting date (via Strate) and announced on SENS: Tuesday, 12 June

* Last date to trade to be eligible to attend and vote at the Bondholders meeting: Tuesday, 19 June

* Record date to be eligible to attend and vote at the Bondholders meeting: Friday, 22 June

* Forms of Proxy should be lodged with Issuer or Transfer Agent no later than 10h00: Monday, 2 July

* Bondholders Meeting (Proxies may be delivered to the Chairman of the meeting at the meeting): Tuesday, 3 July

* Results of the Bondholders Meeting announced on SENS: 24 to 48 hours post Bondholder Meeting
07-Jun-2018
(Official Notice)
05-Jun-2018
(Official Notice)
29-May-2018
(Official Notice)
Shareholders wee advised that at the general meeting held on 29 May 2018, the requisite majority of shareholders approved all the special resolutions, as set out in the notice of the general meeting.
29-May-2018
(Official Notice)
18-May-2018
(Official Notice)
04-May-2018
(Official Notice)
Shareholders were advised that Mrs Michelle Nana has resigned as Aveng Company Secretary with effect from 30 June 2018.
26-Apr-2018
(Official Notice)
29-Mar-2018
(Official Notice)
Shareholders are advised that the Company's Audit - Risk Committees are now combined and is comprised of the following Independent Non- Execuitve Directors with immediate effect:

* Mr Philip Hourquebie (Chairman)

* Ms Kholeka Mzondeki

* Mr Sean Flanagan

* Mr Mike Kilbride
27-Feb-2018
(C)
Aveng reported a headline loss of R335 million (December 2016: R391 million) and a net loss of R346 million (December 2016: R429 million).



Basic loss per share was 87.4 cents loss per share compared to a 98.8 cents loss per share in the comparative period and headline loss per share decreased to 84.4 cents loss per share (December 2016: 98.5 cents loss per share).



Outlook and prospects

The markets serviced by McConnell Dowell are expected to continue to offer growth opportunities with the continued roll out of large- and medium-sized projects in the major Australian cities. In Southeast Asia, opportunities exist in infrastructure in Singapore, Malaysia, Thailand, Indonesia and the Philippines. Government investment in large scale transport and water projects will fuel growth in the New Zealand market.



Domestically the outlook for the infrastructure market remains subdued with limited visibility on large scale projects. However, recent changes in the political environment have led to an improved sentiment in South Africa. There are opportunities to increase exports for the manufacturing operations.



The improved contract mining environment and some notable contract wins place the operating group in a strong position to pursue its longer-term growth strategy in selected international markets.



Furthermore, the focus will remain on optimisation efforts in Aveng Steel to deliver a break-even result in the current depressed market conditions, which are expected to persist.



The immediate priority for the Group will be the implementation of the strategic plan. Non-core assets have been identified and a disposal process has commenced.



Work has commenced on a potential capital market transaction and further details will be provided at the appropriate time.



06-Feb-2018
(Official Notice)
It is with deep sadness that the shareholders of Aveng are advised that Mr Peter John Erasmus, an independent non- executive director of the Company, passed away on 4 February 2018.
18-Dec-2017
(Official Notice)
Bondholders of the Aveng Ltd. Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on Wednesday, 24 January 2018. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2017 (inclusive) and ending on 24 January 2018 (exclusive) (?Coupon Period?), from the close of trade on Tuesday, 16 January 2018 until the close of trade on Friday, 19 January 2018. The interest amount to be paid on Wednesday, 24 January 2018 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

* Last date to trade in order to participate in this interest payment : Tuesday, 16 January 2018

* Ex date : Wednesday, 17 January 2018

* Record date : Friday, 19 January 2018

* Payment date : Wednesday, 24 January 2018
04-Dec-2017
(Official Notice)
Further to the announcement released on SENS on 27 November 2017 relating to Aveng?s invitation to shareholders to engage with the Company on the remuneration policy and the implementation of the remuneration policy, shareholders are advised that the telephone conference took place on Monday, 4 December 2017 as follows:

1. two shareholders, holding approximately 24% of voteable shares in Aveng, participated in the telephone conference (?participating shareholders?);

2. one shareholder confirmed that the Company has already engaged with them and they had tabled their concerns; and

3. Aveng anticipates formulating a new three year policy and will engage with shareholders before its finalisation in June 2018.
01-Dec-2017
(Official Notice)
Investors were advised that the Group?s annual financial statements for the year ended 30 June 2017 are available for viewing and downloading at www.aveng.co.za.
27-Nov-2017
(Official Notice)
Further to the announcement released on SENS on 24 November 2017, Aveng L now invites those shareholders who voted against the remuneration policy and the implementation of the remuneration policy at the Annual General Meeting of Aveng held on 24 November 2017 (?dissenting shareholders?) to engage with the Company as follows:

1. a telephone conference has been arranged for Monday, 4 December 2017 from 11h00 to 12h00 (SA time);

2. all dissenting shareholders to confirm their participation to the company secretary by e- mail at aveng.cosec@avenggroup.com by no later than close of business on Thursday, 30 November 2017. Dial-in-details for the telephone conference will then be provided; and

3. dissenting shareholders are further invited to forward their concerns/questions on the remuneration policy and the implementation report to the company secretary in writing by close of business on Thursday, 30 November 2017.
24-Nov-2017
(Official Notice)
Shareholders are advised that at the annual general meeting held today, 24 November 2017, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416 670 931 ordinary shares in issue as at the date of the annual general meeting.



Shareholders are further advised that due to ordinary resolutions number 4 and 5 which relate to the non- binding advisory votes on the remuneration policy and the implementation of the remuneration policy being voted against by more than 25% of Aveng shareholders present in person or represented by proxy at the AGM, the Board has committed itself to continue to engage with the dissenting shareholders. The manner and timing of such engagement has not as yet been finalised, and, Aveng will issue a further announcement shortly including such details.



Additionally, the Remuneration Committee members recently met with some of our major shareholders to discuss the once-off Remuneration Policy and have committed to consult further in respect of the 2019 policy prior to it being finalised and published in next year?s Integrated Report.



Changes to the board of directors: resignation of non-executive directors

Shareholders are advised that non-executive directors, Mr Mahomed Seedat and Ms Thoko Mokgosi-Mwantembe have resigned from the board of directors of Aveng at today?s Annual General Meeting.
20-Oct-2017
(Official Notice)
Shareholders are hereby advised that the notice of annual general meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Friday, 20 October 2017. The notice of annual general meeting contains no modifications to the audited group results for the year ended 30 June 2017, published on SENS and in the media on Tuesday, 26 September 2017. An abridged report will therefore not be published.



The Integrated Report is available on the Company?s website (www.aveng.co.za/financials/annual-reports).



Notice is hereby given that the seventy-third annual general meeting of shareholders will be held at 10h00 on Friday, 24 November 2017 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the notice of the annual general meeting.



Salient dates

The notice of annual general meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 13 October 2017, being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the annual general meeting is Friday, 17 November 2017 (?Voting Record Date?). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 14 November 2017. Forms of proxy must be lodged by no later than 10h00 on Wednesday, 22 November 2017 for administrative purposes.



Broad-Based Black Economic Empowerment certificate

Shareholders are hereby notified that in accordance with the JSE Listings Requirements, Aveng's compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based Black Economic Empowerment Act 46 of 2013, has been published and is available on the Group's website, www.aveng.co.za.
26-Sep-2017
(C)
Revenue for the year lowered to R23.5 billion (2016: R33.8 billion). Gross loss was recorded at R3.1 billion (2016: earnings of R2.5 billion). Net operating loss was R5.4 billion (2016: earnings of R146 million). Loss for the period attributable to equity-holders of the parent widened to R6.7 billion (2016: loss of R101 million). In addition, headline loss per share was recorded at 1 625.3 cents per share (2016: loss of 75.2 cents per share).



Outlook and prospects

The markets serviced by McConnell Dowell are expected to offer growth opportunities over the medium-term. In Australia, the continued roll-out of large-and medium-sized projects in the major cities is set to continue. In Southeast Asia, opportunities exist in infrastructure in Singapore, Malaysia, Thailand and the Philippines. Government investment in large-scale transport and water projects will fuel growth in the New Zealand market.



Domestically the outlook for the infrastructure market remains subdued with limited visibility on large-scale projects. The muted outlook is expected to extend into the manufacturing sector. However, there are opportunities to increase the penetration into selected international markets.



The local construction and manufacturing businesses will remain focused on improving financial performance in what is expected to be a continuously difficult market environment.



The improved contract mining environment and some notable contract wins place the operating group in a strong position to pursue its longer-term growth strategy in selected international markets.



Furthermore, the focus will remain on optimisation efforts in Aveng Steel to deliver a break-even result in the current depressed market conditions, which are expected to persist.



The immediate priority for the Group will be the completion of the strategic and operational reviews. Non-core assets have been identified and a disposal process has commenced.



The improvement of liquidity headroom will remain a key focus in the immediate term.



Resignation of Aveng CEO

Aveng announces that Mr Kobus Verster has informed the Company's board of directors of his resignation as chief executive officer and executive director, with immediate effect.



Kobus has made the decision to step down as CEO of the Company to pursue other opportunities.



Mr Eric Diack will assume the duties of CEO, until such time as a new CEO has been appointed.



20-Sep-2017
(Official Notice)
23-Aug-2017
(Official Notice)
The Aveng Board announced that Eric Diack has been appointed as Executive Chairman with immediate effect. Mahomed Seedat has stepped down from the role of independent non-executive chairman as he believes that Eric is better positioned for the role. This will be with immediate effect. Eric's extensive commercial experience will support the management team as it enhances its strategy to enable the company to realise its significant underlying value.



Kobus Vorster will continue in the role of Group Chief Executive Officer and continues to enjoy the full support of the Board. Kobus and Eric will work together to deliver on the potential of the company sooner rather than later.



Eric Diack, is a Chartered Accountant, and has been CEO and CFO of a number of major industrial and mining companies, as well as a director on numerous listed and unlisted boards. He has been integral to a multitude of transactions during his corporate and entrepreneurial career.



As a result of assuming the role of Executive Chairman, Eric Diack will relinquish his role as chairman of the Audit Committee. Philip Hourquebie, currently an independent non-executive director and member of the Audit Committee, has been appointed to chair the Audit Committee. Peter Erasmus, currently an independent non-executive director, has been appointed as a member of the Audit Committee to replace Eric Diack.



The board announced that Ms Kholeka Mzondeki, currently an independent non- executive director, has been appointed as lead independent director with immediate effect.



Following these changes, the composition of the Board remains compliant with the King IV requirement that a board of directors should comprise a balance of power, with a majority of non- executive directors, the majority of whom should be independent.
18-Aug-2017
(Official Notice)
The cautionary announcement dated 31 July 2017, relating to the review of long outstanding uncertified revenue, is renewed and holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.



The proceeds of AUD50m relating to the QCLNG award has now been received.



Following the recently announced QCLNG award at a lower than anticipated value, the Group is considering the impact of the associated write down of AUD235m, together with the likely impact of the review of the uncertified revenue, this may have on its financial statements.



Consequently, Aveng has engaged with its major funding banks in relation to the extension of its existing facilities, and these discussions are continuing. The major funding banks have indicated they remain supportive of the Group.



As a result, holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.



The Board has therefore decided to postpone the publication date of its annual results from 22 August 2017 to 28 September 2017.
31-Jul-2017
(Official Notice)
03-Jul-2017
(Official Notice)
Shareholders are referred to the previous cautionary announcements in relation to the sale of Aveng Trident Steel by Aveng Africa (Pty) Ltd.



Discussions are still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.
03-Jul-2017
(Official Notice)
Shareholders are referred to the cautionary announcement dated 17 May 2017, in relation to management?s evaluation of previously recognised uncertified revenue, which may result in the derecognition of certain previously recorded uncertified revenue.



The aforementioned evaluation is still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.





30-Jun-2017
(Official Notice)
Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on Monday, 24 July 2017. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2017 (inclusive) and ending on 24 July 2017 (exclusive) (?Coupon Period?), from the close of trade on Tuesday, 18 July 2017 until the close of trade on Friday, 21 July 2017. The interest amount to be paid on Monday, 24 July 2017 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

* Last date to trade in order to Participate in this interest payment : Tuesday, 18 July 2017

* Ex date : Wednesday, 19 July 2017

* Record date : Friday, 21 July 2017

* Payment date : Monday, 24 July 2017
17-May-2017
(Official Notice)
The Group expects basic earnings per share (?EPS?) and headline earnings per share (?HEPS?) for the year ended 30 June 2017 to be substantially more than 20% lower than the basic EPS loss of (25.4) cents and basic HEPS loss of (75.2) cents reported for the previous comparative period.



This follows continued weak market conditions for the South African businesses, operational underperformance and accelerated claims settlements at McConnell Dowell, an increased net interest expense as well as the impact of previously reported settlements and the agreement concluded with the South African government.



Shareholders are advised that a further trading statement will be released as soon as there is a reasonable degree of certainty as to the likely range by which the Group?s EPS and HEPS are expected to decrease.



QCLNG update

As previously announced, the arbitration hearings have been completed. The finding of the Tribunal is awaited and Aveng expects that an award is likely to be reported within the current financial year?s reporting cycle.



Other claims

Aveng continuously reassesses the position recognised on all its recorded uncertified revenue. The Group has noted increasingly difficult, litigious and costly processes in bringing long outstanding claims to commercial conclusion. Despite the unchanged view of the merits of its existing claims, management is in the process of evaluating previously recognised uncertified revenue considering the abovementioned conditions. This may result in the derecognition of certain previously recorded uncertified revenue. Such an adjustment may lead to a further reduction in earnings beyond currently anticipated results. The Group will continue to robustly pursue its commercial entitlements in relation to these claims.



Shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.
26-Apr-2017
(Official Notice)
Shareholders are referred to the cautionary announcement dated 17 March 2017, in relation to the sale of Aveng Trident Steel by Aveng Africa (Pty) Ltd.



Discussions are still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.
29-Mar-2017
(Official Notice)
Shareholders are advised that at the general meeting held on 29 March 2016, the requisite majority of shareholders approved all the ordinary resolutions, as set out in the notice of the general meeting. There were 416 670 931 ordinary shares in issue at the date of the general meeting.
17-Mar-2017
(Official Notice)
27-Feb-2017
(Official Notice)
Aveng shareholders (?Shareholders?) are advised that the company posted a circular to Shareholders on Monday, 27 February 2017 (?Circular?). The purpose of the Circular is to provide Shareholders with information relating to the proposed disposal of a 51% beneficial interest in the Grinaker-LTA business, owned and operated by Aveng (Africa) (Pty) Ltd., to Kutana Construction (Pty) Ltd. (?Kutana Construction?) and the subsequent issue of a non-voting equity instrument by Kutana Construction to Aveng Africa resulting in Aveng disposing of an effective 45% economic interest in the Grinaker-LTA business to Kutana Construction (?Disposal?). The information contained in the Circular will enable Aveng Shareholders to make an informed decision in respect of the relevant resolutions and to convene a general meeting at which Shareholders will be requested to vote on the resolutions to approve the Disposal (?General Meeting?).



Notice of General Meeting

The General Meeting will be held at, Aveng Park, Block A, 1 Jurgens Street, Jet Park, Boksburg, 1459, on Wednesday 29 March 2016, commencing at 10h00, to consider the resolutions required to effect the Disposal.



Salient dates and times

The salient dates and times relating to the Disposal are set out below:

*Record date on which Aveng Shareholders must be recorded in the company's securities register in order to be entitled to receive notice of the General Meeting - Friday, 17 February 2017

*Circular posted to Aveng Shareholders - Monday, 27 February 2017

*Last date to trade Aveng ordinary shares in order to be eligible to participate and vote at the General Meeting - Monday, 20 March 2017

*Record date on which Aveng Shareholders must be recorded in the company's securities register in order to be entitled to participate in and vote at the General Meeting -Friday, 24 March 2017

*Forms of proxy for the General Meeting to be received by 10h00 on Monday, 27 March 2017

*General Meeting to be held at 10h00 on Wednesday, 29 March 2017

*Results of the General Meeting released on SENS on Wednesday, 29 March 2017
20-Feb-2017
(C)
Aveng reported an adjusted headline loss of R76 million or 19.2 cents loss per share for the six months ended 31 December 2016, compared to a headline loss of R231 million or 58 cents loss per share for the comparative period.



In line with expectations, Group revenue declined by 21% to R14.3 billion (2015: R18 billion), due to a weak macro-economic climate and the completion of some large projects, with McConnell Dowell being most significantly impacted. Adjusted net operating earnings increased to R151 million from R52 million in 2015, driven primarily by a marked improvement in Aveng Grinaker-LTA, Aveng Trident Steel and a 25% reduction in Group overheads. This improved performance was partially offset by the under-performance at McConnell Dowell and the impact of the downturn in the mining sector in the prior year.



Outlook and prospects

Challenging economic conditions are expected to continue in the short term. There are attractive mining opportunities being investigated as a result of a more optimistic outlook emerging on commodity prices. We expect the benefits of the various business optimisation initiatives to continue to contribute to performance in the second half of the financial year as the business positions itself for profitable growth within the second phase of our strategy.



The claims resolution process on QCLNG is expected to be concluded during the course of the current financial year and Gold Coast in the 2018 calendar year. In addition, we are involved in other significant commercial close outs and negotiations which add uncertainty. Winning work at acceptable margins, improving operational performance and the recovery of claims remain a priority for McConnell Dowell.



The Group will look to grow the Aveng Grinaker-LTA order book with the finalisation of the transformation transaction, which is aligned to the strategy of Aveng to further develop and transform the South African construction industry and will ultimately result in value enhancement for shareholders.



The divestment of Aveng Trident Steel remains an objective, however the achievement of acceptable value under current market conditions is likely to be challenging.



Appointment of new sponsor/change in sponsor

Shareholders are advised that the Company has appointed UBS South Africa (Pty) Ltd. as sponsor to the Company, replacing JP Morgan Equities South Africa (Pty) Ltd., with effect from 10 February 2017.
15-Feb-2017
(Official Notice)
13-Feb-2017
(Official Notice)
09-Jan-2017
(Official Notice)
Shareholders are referred to the detailed SENS announcement on 11 October 2016, and the pro forma financial effects and cautionary announcement on SENS dated 22 November 2016 relating to the introduction of an economic empowerment partner into the Grinaker-LTA business (?the Transaction?).



Shareholders are advised that due to continuing negotiations between Aveng (Africa) (Pty) Ltd. (?Aveng Africa?) and Kutana Construction (Pty) Ltd. regarding the inclusion, or otherwise, of certain water business related contracts within the Transaction, which in turn may lead to the inclusion of Aveng Africa?s interest in Aveng Water (Pty) Ltd. within the originally announced Transaction, the Company applied to the JSE Ltd. for dispensation from the requirement, set out in paragraph 10.9 of the JSE Listings Requirements, for the necessary circular to be posted to shareholders within 60 days of the terms announcement being published on SENS. On 13 December 2016, the JSE granted such dispensation and the period for the posting of the circular was extended to 28 February 2017.



Further cautionary

Aveng Africa is still in negotiations in relation to the sale of the Aveng Trident Steel business unit and shareholders will receive a further update in this regard in due course. Shareholders are advised to continue exercising caution when dealing in Aveng Ltd. securities until a further announcement is published.







29-Dec-2016
(Official Notice)
Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on 24 January 2017. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2016 (inclusive) and ending on 24 January 2017 (exclusive) (?Coupon Period?), from the close of trade on Tuesday, 17 January 2017 until the close of trade on Friday, 20 January 2017. The interest amount to be paid on Tuesday 24 January 2017 will be R362.50 for each ZAR10 000.00 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

Last date to trade in order to participate in this interest payment - Tuesday, 17 January 2017

Ex date - Wednesday, 18 January 2017

Record date - Friday, 20 January 2017

Payment date - Tuesday, 24 January 2017
22-Dec-2016
(Official Notice)
Further to the SENS issued on 1 December 2016, with respect to the disposal of certain of the Aveng Capital Partner?s assets, being the equity interests and loans in the specific project companies (?the Transaction?). The Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Ltd.



In the Share Sale Agreement entered into between Celanex (Pty) Ltd., Royal Bafokeng Holdings (Pty) Ltd., Aveng (Africa) (Pty) Ltd. and Steelmetals (Pty) Ltd., the parties agreed to a longstop date of 30 November 2016, by which the conditions precedent to the transaction would be fulfilled. The parties executed an addendum to the Share Sale Agreement extending the longstop date to 23 December 2016. Subsequent to the extension of the longstop date the following was achieved:

- Aveng successfully disposed of Steelmetals N3TC Equity Interest for a purchase price of R195 million and funds flowed on 12 December 2016;

- Aveng received the consent of the Department of Energy to dispose of the Windfall Equity Interest and the Blue Falcon Equity Interest, which has resulted in one of the major conditions precedent to the disposal being fulfilled.



However, as certain of the conditions precedent with respect to the Windfall Equity Interest, the Blue Falcon Equity Interest and the Imvelo Equity Interest have still not been fulfilled, the parties have agreed to execute a second addendum to the Share Sale Agreement, further extending the longstop date to 31 January 2017, being the date by which the parties expect all outstanding required consents and approvals for the sale of the Windfall Equity Interest and the Blue Falcon Equity Interest to be in place.
01-Dec-2016
(Official Notice)
Further to the Group?s General Meeting on 14 November 2016, shareholders approved the disposal of certain of the Aveng Capital Partner?s assets, being the equity interests and loans in the specific project companies (?the Transaction?). The Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Ltd.



In the Share Sale Agreement entered into between Celanex (Pty) Ltd., Royal Bafokeng Holdings (Pty) Ltd., Aveng (Africa) (Pty) Ltd. and Steelmetals (Pty) Ltd., the parties agreed to a longstop date of 30 November 2016, by which the conditions precedent to the transaction would be fulfilled. As certain of the conditions precedent have not been fulfilled, the parties have agreed to execute an addendum to the Share Sale Agreement, extending the longstop date to 23 December 2016, being the date by which the parties expect all outstanding required consents and approvals for the sale of the Windfall Equity Interest and the Blue Falcon Equity Interest to be in place. Notwithstanding the longstop date of 23 December 2016, the Addendum to Share Sale Agreement further provides that the conditions precedent in respect of the disposal of the Imvelo Equity Interest may be fulfilled by no later than 31 March 2017. This allows the Imvelo sale conditions precedent to be fulfilled after the longstop date of 23 December 2017 without affecting the validity or enforceability of the sale of the Imvelo Equity Interest.
22-Nov-2016
(Official Notice)
With the intention of substantially transforming the Aveng Grinaker-LTA Business ("Business"), on 11 October 2016, the Group advised shareholders that Aveng Africa (Pty) Ltd. ("Aveng Africa"), a wholly owned subsidiary of Aveng Ltd., has entered into binding agreements with Kutana Construction (Pty) Ltd. (?Kutana Construction?) whereby Kutana Construction will acquire a 51% Beneficial Interest (which as a result of a non-voting equity instrument structure converts to effectively a 45% economic interest ("Economic Interest"), in the Business on 1 February 2017, (the "Proposed Transaction").



The net asset value of the Business as at 30 June 2016 was R369 million. The after taxation loss attributable to the interest for the year ended 30 June 2016 was R112 million.



Renewal of Cautionary

Aveng Africa (Pty) Ltd. is still in discussions in relation to the sale of Aveng Trident Steel and shareholders will receive a further update in this regard in due course.



Therefore shareholders are advised to continue to exercise caution when dealing in their Aveng securities.
14-Nov-2016
(Official Notice)
Shareholders are advised that at the two general meetings held, the requisite majority of shareholders approved all the ordinary resolutions, as set out in the notices of the general meetings. There were 416 670 931 ordinary shares in issue at the date of the general meetings.
21-Oct-2016
(Official Notice)
Shareholders are advised that at the annual general meeting, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416,670,931 ordinary shares in issue as at the date of the annual general meeting.
12-Oct-2016
(Official Notice)
11-Oct-2016
(Official Notice)
20-Sep-2016
(Official Notice)
In terms of section 7.2 of the Debt Listings Requirements of the JSE Ltd., investors are advised that the group?s 216 annual financial statements are available for viewing and downloading at www.aveng.co.za.

19-Sep-2016
(Official Notice)
Shareholders are hereby advised that the Notice of Annual General Meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Monday, 19 September 2016. The Notice of Annual General Meeting contains no modifications to the audited group results for the year ended 30 June 2016, published on SENS and media on Tuesday, 23 August 2016. An abridged report will therefore not be published. The Integrated Report is available on the Company?s website (www.aveng.co.za).



Notice is hereby given that the seventy-second Annual General Meeting of shareholders will be held at 10h00 on Friday, 21 October 2016 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting.



Salient dates

The Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 9 September 2016, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.



The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 14 October 2016 (?Voting Record Date?). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 11 October 2016. Forms of proxy must be lodged by no later than 10h00 on Wednesday, 19 October 2016.
30-Aug-2016
(Official Notice)
Steeledale transaction

Further to the Group?s announcement on SENS on 10 August 2016 where shareholders were advised that Aveng had reached an agreement with Kutana Steel (Pty) Ltd (Kutana) whereby Kutana would acquire a 70% interest in the Steeledale business (the ?Interest?). The net asset value of the Interest as at 30 June 2016 was R167 million. The after taxation loss attributable to the interest for the year ended 30 June 2016 was R2 million.



ACP transaction

Further to the Group?s announcement on SENS on 10 August 2016 where shareholders were advised that the monetisation of the four major infrastructure investments (?ACP Assets?) had been concluded through a binding agreement with Royal Bafokeng Holdings (Pty) Ltd, for the sale of its entire interest in the investments. The net asset value of the ACP Assets as at 30 June 2016 was R860 million. The after taxation profits attributable to the ACP assets for the year ended 30 June 2016 was R132 million.



Cautionary

Aveng is still in discussions in relation to (i) the sale of its Aveng Trident Steel and Aveng Steel Fabrication business units, and (ii) the transformation of Aveng Grinaker-LTA, accordingly shareholders are advised to continue to exercise caution when dealing in Aveng Limited securities until a further announcement is published.

23-Aug-2016
(C)
Revenue for the year lowered to R33.755 billion (2015: R43.930 billion). Gross earnings increased to R2.495 billion (2015: R2.364 billion), net operating earning turned around to R146 million (2015: loss of R288 million), loss for the period attributable to equity-holders of the parent narrowed to R101 million (2015: loss of R460 million), while headline loss per share fell to 75.2 cents per share (2015: loss of 144.3 cents per share).



Outlook and prospects

Challenging economic conditions are expected to continue in the short term, although with more positive medium term opportunities in Australia. Aveng is a more focused business and well positioned for improved performance. Aveng expects the benefits of business optimisation to further contribute to this improved performance in the next financial year. This allows the business to position itself for profitable growth within the second phase of the group's strategy.



The claims settlement process on QCLNG is expected to be concluded in 2017 and on Gold Coast in 2018.



The Group continues to investigate and pursue transformational alternatives for Aveng Grinaker-LTA. The divestment of Aveng Trident Steel remains an objective; however, the achievement of acceptable value under current market conditions is likely to be challenging.

19-Aug-2016
(Official Notice)
Shareholders are advised that non-executive director Mr Angus Band has retired from the board of directors of Aveng with effect from 19 August 2016.









10-Aug-2016
(Official Notice)
04-Jul-2016
(Official Notice)
Shareholders are referred to the cautionary announcement released on SENS on 23 February 2016 (and the subsequent renewal of this announcement), in which Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng on, either the entire Steel operating group or certain of its individual business units.



Confidential discussions with regards to the above are ongoing. In addition, as mentioned in the interim results announcement on 23 February 2016, management is progressing with the other strategic initiatives as detailed in the aforementioned results announcements. Therefore shareholders are advised to continue to exercise caution when dealing in their Aveng securities.
30-Jun-2016
(Official Notice)
Shareholders are advised that non-executive director Mr Peter Ward will be retiring from the board of directors of Aveng with effect from 30 June 2016.

30-Jun-2016
(Official Notice)
Bondholders of the Aveng Ltd. Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on 25 July 2016 (given 24 July 2016 is a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2016 (inclusive) and ending on 24 July 2016 (exclusive) (?Coupon Period?), from the close of trade on Tuesday, 19 July 2016 until the close of trade on Friday, 22 July 2016. The interest amount to be paid on Monday, 25 July 2016 will be R362.50 for each R10 000 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

*Last date to trade in order to participate in this interest payment: Tuesday, 19 July 2016

*Ex date: Wednesday, 20 July 2016

*Record date: Friday, 22 July 2016

*Payment date: Monday, 25 July 2016



20-May-2016
(Official Notice)
Shareholders are referred to the cautionary announcement released on the Stock Exchange News Service of the JSE Ltd. on 23 February 2016 (and the subsequent renewal of this announcement), in which Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng on, either the entire Steel operating group or certain of its individual business units.



Confidential discussions are ongoing and shareholders are advised to continue to exercise caution when dealing in their Aveng securities.



08-Apr-2016
(Official Notice)
Shareholders are referred to the cautionary announcement released on the Stock Exchange News Service of the JSE Ltd. on 23 February 2016, where Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng, either the entire Steel operating group or certain of its individual business units.



Confidential discussions are ongoing and shareholders are to continue to exercise caution when dealing in their Aveng securities.
25-Feb-2016
(Official Notice)
Investors are advised that the group?s reviewed interim financial statements for the six months ended 31 December 2015 are available for viewing and downloading at www.aveng.co.za.



23-Feb-2016
(Official Notice)
Following the previously announced strategic refocus initiated by the Board for the Steel operating group, amongst other actions, Aveng has received various non-binding offers from numerous parties, to acquire or partner with Aveng, for both the entire operating group and/or for certain of its individual business units. Confidential discussions are ongoing though there can be no certainty that these discussions will result in any transactions. Accordingly, shareholders in Aveng should exercise caution when trading in their securities.
23-Feb-2016
(C)
19-Feb-2016
(Official Notice)
Shareholders are advised that Aveng is currently finalising its results for the six months ended 31 December 2015 (?the period?), which will be released on SENS on 23 February 2016.



In accordance with section 3.4 (b) of the JSE Listings requirements and further to the trading statement released on 11 December 2015 in which the company indicated that headline earnings per share (?HEPS?) for the period would be at least 100% lower than the comparative six months ending 31 December 2014 (?the comparative period?), but limited to a headline loss of R300 million, shareholders are advised that the headline loss for the period is likely to be between R220 million and R240 million, with basic earnings expected to be between R220 million and R240 million. HEPS is likely to be between (55)cps and (60)cps, a decrease of between 259% and 274%, with EPS expected to be between 55cps and 60cps, a decrease of between 38% and 33%.



Reported headline earnings and basic earnings for the comparative period (released on SENS on 17 February 2015) were R138 million and R358 million respectively, while reported HEPS and EPS for the comparative period were 34.5cps and 89.3cps respectively.



The above information has not been reviewed or reported on by Aveng's independent external auditors. The Group?s results for the six months ending 31 December 2015 will be released on SENS on 23 February 2016 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day. The presentation will be available for all stakeholders on the Group?s website, www.aveng.co.za.







11-Jan-2016
(Official Notice)
Investors are advised that the Group?s 2015 annual financial statements are available for viewing and downloading at www.aveng.co.za.
18-Dec-2015
(Official Notice)
Bondholders of the Aveng Limited Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on 25 January 2016 (given 24 January 2016 is a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2015 (inclusive) and ending on 24 January 2016 (exclusive) (?Coupon Period?), from the close of trade on Friday, 15 January 2016 until the close of trade on Friday, 22 January 2016. The interest amount to be paid on Monday 25 January 2016 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

*Last date to trade in order to participate in this interest payment: Friday, 15 January 2016

*Ex date: Monday, 18 January 2016

*Record date: Friday, 22 January 2016

*Payment date: Monday, 25 January 2016



11-Dec-2015
(Official Notice)
27-Oct-2015
(Official Notice)
Shareholders are advised that at the annual general meeting held today, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416,670,931 ordinary shares in issue as at the date of the annual general meeting.
20-Oct-2015
(Official Notice)
Shareholders are advised that QCLNG has requested the repayment of the remaining AUD112.5 million advance payment. This repayment was planned and has been included in the Group?s liquidity analysis performed earlier this year.



Following the completion of the third and final step in Aveng?s strategy to improve its balance sheet and liquidity position, namely the conclusion of the sale of various properties, combined with current levels of cash generation, the Group has sufficient cash and facilities at its disposal. This position remains in line with the trading statement issued on 11 June 2015 that stated: ?Considering the Group's operating cash flows (including the repayment of the QCLNG advance, if required), future funding requirements, available facilities and related covenants, the Group is considered to be adequately funded at this time and there is no current need for additional capital.?



Aveng intends to settle this liability on or around 28 October 2015. Once settled, Aveng will have removed the cash flow risk on the QCLNG project and will continue to vigorously pursue its legal claims through the arbitration process.



The arbitration proceedings relating to the QCLNG project are well advanced and the formal hearing will start next month, whilst a final award is expected around August 2016.
19-Oct-2015
(Official Notice)
Shareholders are advised that Aveng will host an investor site visit to the Nkomati mine today, 19 October 2015 and an investor conference tomorrow, 20 October 2015 for key investors and sector analysts.



To accommodate all stakeholders, the presentations by management will be available, on Tuesday 20 October 2015 on the group website at www.aveng.co.za. The presentations do not contain undisclosed financial information of either the group or its operations.
15-Oct-2015
(Official Notice)
In compliance with Section 3.59 of the Listings Requirements of the JSE Ltd., the Aveng Board announced the appointment of Mr Sean Flanagan as an independent non- executive director to the Aveng Board with effect from 1 November 2015.



Mr Flanagan,(Bachelor of Science (Building), has over 30 years of industry-specific experience derived from contract and claims negotiation, project engineering, project and construction management, setting company strategies, leading mergers and acquisitions, trouble shooting in underperforming projects and businesses, as well as full executive responsibility for a large portfolio of businesses and major projects. Mr Flanagan was previously with Murray - Roberts for 19 years in which time he occupied a range of operational, general management and executive director board roles, as well as with Erbacon, and most recently as a Consultant to Eskom on the Medupi Project, through Parsons Brinckerhoff.



The Board looks forward to Mr Flanagan?s contributions to the Aveng Board.
21-Sep-2015
(Official Notice)
Shareholders are hereby advised that the Notice of Annual General Meeting and the Integrated Report for the year ended 30 June 2015, which includes the summary consolidated annual financial statements, will be posted to Aveng shareholders on Monday, 21 September 2015. The Notice of Annual General Meeting and Integrated Report contain no modifications to the audited group results for the year ended 30 June 2015, published on SENS and media on Tuesday, 18 August 2015. An abridged report will therefore not be published.



The Integrated Report is available on the Company?s website (www.aveng.co.za).



Notice is hereby given that the seventy-first Annual General Meeting of shareholders will be held at 10h00 on Tuesday, 27 October 2015 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jetpark, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting and the Integrated Report.



Salient dates

The Integrated Report and the Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 11 September 2015, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.



The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 23 October 2015 (?Voting Record Date?). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Friday, 16 October 2015. Forms of proxy must be lodged by no later than 10h00 on Friday, 23 October 2015.
17-Sep-2015
(Media Comment)
Business Report announced that Aveng's mining subsidiary, Aveng Moolmans, concluded a five year extension of its contract in the Northern Cape withTshipi Borwa open-pit manganese mine. The second cycle contract extension, which was effective from 1 September 2015, was obtained following an open tender process. Aveng Mining managing director Stuart White, said that Aveng Moolmans was delighted to continue its working relationship at the Tshipi Borwa project.
09-Sep-2015
(Media Comment)
According to Business report, Aveng and its partner Acciona Energia of Spain constructed a 138MW Gouda wind facility for Eskom for R2.7 billion which became fully operational last week. The wind farm and the R2.3 billion Sishen solar plant, which was completed in December by the two companies, will be collectively adding about 212MW of power capacity to South Africa?s national grid. Aveng was responsible for the construction works and will play an ongoing role in operating and maintaining both projects.
01-Sep-2015
(Official Notice)
Aveng announced that the disposal of 70% of Dimopoint (Pty) Ltd. (Dimopoint), a special purpose vehicle created for the purpose of holding certain properties and which is wholly owned by Aveng Africa (Pty) Ltd. (Aveng Africa), to Imbali Props 21 (Pty) Ltd. (Imbali 21), an entity of the Collins Property Group (Collins), has been successfully concluded and settled. The proceeds of R1.127 billion will be used to strengthen the financial position of the Group and to reduce overall debt.
18-Aug-2015
(C)
Revenue decreased to R43.9 billion (R53 billion). Gross earnings lowered to R2.4 billion (R3.6 billion). Net operating loss rose came in at R288 million (profit of R799 million), while loss for the period attributable to equity-holders of the parent widened to R460 million (loss of R381 million). In addition, headline loss per share came in at 144.3cps (earnings of 112.5cps).



Outlook and prospects

Aveng is not expecting an improvement in its key market in the short-term and will continue to focus on the recovery of underperforming businesses, resolving unsettled claims and preserving its balance sheet. There are attractive opportunities in Australia, New Zealand and Southeast Asia in particular. Although substantially lower revenue is expected for the construction business, the Group anticipates improved profitability. The Mining and Steel businesses will remain constrained by a challenging operating environment. Manufacturing will continue to focus on growth opportunities and improved financial performance.



Overall the realisation of structural improvements and improved project delivery, should result in an improved performance in the 2016 financial year.
14-Aug-2015
(Official Notice)
05-Aug-2015
(Official Notice)
In compliance with Section 3.59 of the Listings Requirements of the JSE Ltd., the Aveng Group announces the following change to its board:



The appointment of Mr Philip Hourquebie as an independent non-executive director of the Aveng board with effect from 5 August 2015.



Mr Philip Hourquebie, CA (SA), BCom Finance, Bachelor of Accountancy, has extensive operational and strategic experience gained particularly from his long career at Ernst - Young. During this time he held various positions including the positions of CEO South Africa; Managing Partner: Sub-Saharan Africa Region; and Managing Partner: Central and South-East Europe Region.



Mr Hourquebie has served on various boards and committees, including the King 3 Committee on boards and Directors, Chair of the South African Institute of Chartered Accountants (SAICA), a trustee of Thuthuka Bursary Fund and a member of the Black Economic Empowerment Negotiating Forum and chair of its Steering Committee and a Commissioner of the Financial and Fiscal Commission.



The board looks forward to Mr Hourquebie?s contributions to the Aveng board.
31-Jul-2015
(Official Notice)
Aveng announced the appointment of Scott Cummins as Chief Executive Officer of McConnell Dowell Corporation Ltd., the Group's Asia and the Pacific subsidiary, effective 1 October 2015. Mr Cummins replaces current CEO, David Robinson who will be retiring in October this year.



Scott brings vast experience in the construction and engineering industry across various disciplines and geographies. He has worked in project and functional management and leadership roles in the Marine, Production, Construction Engineering, Fabrication, Business Development and Regional operations for McDermott International over the last 25 years. Throughout his career he has held leadership roles in major locations across the world, including Singapore, Indonesia, Dubai and London.



Since January 2015 Scott has held the position of Senior Vice President of Commercial at McDermott International. Prior to this position his roles have included Executive Vice President Offshore, Senior Vice President and General Manager of Asia Pacific.



He is an Australian national with a Bachelor of Engineering from Monash University, Melbourne, Australia and an MBA from Strathclyde University, Glasgow, UK.



David Robinson will remain available to the company in a consulting role to assist with the commercial resolution of outstanding claims.
26-Jun-2015
(Official Notice)
Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.



Accordingly, the interest payable on the Convertible Bond is due for payment on 24 July 2015. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2015 (inclusive) and ending on 24 July 2015 (exclusive) (?Coupon Period?), from the close of trade on Friday, 10 July 2015. The interest amount to be paid on Friday, 24 July 2015 will be R362.50 for each ZAR10 000.00 of the principal amount for the Coupon Period.



The salient dates relating to this interest payment are as follows:

* Last date to trade in order to be eligible for the interest payment : Friday, 10 July 2015

* Ex date : Monday, 13 July 2015

* Record date : Friday, 17 July 2015

* Payment date : Friday, 24 July 2015



The next interest coupon period will commence on 24 July 2015 (inclusive) and will end on 24 January 2016 (exclusive).
11-Jun-2015
(Official Notice)
21-May-2015
(Official Notice)
Shareholders are referred to the cautionary announcement dated 7 April 2015 which indicated that Aveng accepted an offer (the Offer), in terms of which Aveng had agreed to dispose of 70% of Dimopoint (Pty) Ltd. (Dimopoint), a special purpose vehicle created for the purpose of holding certain properties and which is wholly owned by Aveng Africa (Pty) Ltd. (Aveng Africa), to Imbali Props 21 (Pty) Ltd. (Imbali 21), an entity of the Collins Property Group (Collins) for approximately R1.127 billion to be settled in cash.



Shareholders are advised that as at 31 December 2014, the value of the net assets that are the subject of the transaction was R544 million. These assets are owner occupied and therefore have no profits attributable for the six months ended 31 December 2014.



Furthermore Imbali 21 and Dimopoint have secured funding on commercial terms and conditions that are acceptable to all parties involved in the transaction.



Aveng remains committed to this transaction which is pending the outcome of the Competition authorities and the other conditions precedent, as indicated in the previous announcement.



Shareholders are advised that they no longer need to exercise caution in their dealings in Aveng shares.
07-Apr-2015
(Official Notice)
01-Apr-2015
(Official Notice)
Shareholders are hereby advised that Mr Angus William Band will retire as the Chairman of the board with effect from 30 June 2015. Mr Band will remain on the board as an Independent non-executive director.



Appointment of Mr Mahomed Ismail Seedat as new Independent Non-Executive Chairman of Aveng

The board is delighted to announce that Mr Mahomed Seedat who joined the board in July 2012, as an Independent Non-Executive Director will succeed Mr Band as an Independent Non-Executive Chairman with effect from 1 July 2015. Mr Seedat has been a member of the Safety, Health and Environmental Committee, Remuneration and Nominations Committee and is the Chairman of the Social, Ethics and Transformation Committee.



Changes to the Audit Committee

Mr Peter Ward retires as Chairman of the Audit Committee with effect from 30 June 2015, and Mr Eric Diack will be appointed as Chairman of the Audit Committee with effect from 1 July 2015. Mr Ward will remain as a member of the Audit Committee.
17-Feb-2015
(C)
11-Feb-2015
(Official Notice)
Further to the general trading statement released on SENS on 11 December 2014 the Aveng Board of Directors wish to provide specific guidance on the range of the expected decrease in headline earnings per share (?HEPS?) ahead of the release of its interim results for the period ending 31 December 2014, in terms of paragraph 3.4 (b) of the JSE Listings Requirements.



Aveng Shareholders are advised that in respect of the unaudited financial results for the six months ended 31 December 2014, the Group anticipates HEPS to decline by between 55% and 60% to between 32.8 and 36.9 cents per share in relation to the comparative period?s HEPS of 82.1 cents per share.



The above information has not been reviewed or reported on by the Aveng Group?s auditors. The Group?s interim results for the six months ended 31 December 2014 will be released on SENS on 17 February 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 18 February 2015. The presentation will be available for all stakeholders on the Group?s website, www.aveng.co.za.

05-Jan-2015
(Official Notice)
Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (?Convertible Bond?) were advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrear on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%, commencing with the interest payment date falling on 24 January 2015.



Accordingly, the interest payable on the Convertible Bond is due for payment on 26 January 2015 (given 24 January 2015 being a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 23 July 2014 (inclusive) and ending on 24 January 2015 (exclusive) (?Coupon Period?), from the close of trade on Friday, 16 January 2015 until the close of trade on Friday, 23 January 2015. The interest amount to be paid on Monday 26 January 2015 will be R367.47 for each ZAR10 000.00 of the principal amount for the Coupon Period.



The next interest coupon period will commence on 24 January 2015 (inclusive) and will end on 24 July 2015 (exclusive).



The salient dates relating to this first interest payment are as follows:

* Last date to trade in order to participate in this interest payment : Friday, 16 January 2015

* Ex date : Monday, 19 January 2015

* Record date : Friday, 23 January 2015

* Payment date : Monday, 26 January 2015

11-Dec-2014
(Official Notice)
04-Nov-2014
(Official Notice)
04-Nov-2014
(Official Notice)
Shareholders are advised that at the annual general meeting held on 4 November 2014, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting forming part of the Aveng 2014 Integrated Report. There were 416 670 931 ordinary shares in issue as at the date of the annual general meeting.



Change of registered office and Aveng Croup Corporate office

Shareholders are hereby notified of the relocation of Aveng Group Corporate office with effect from Monday, 17 November 2014. The details of the new business and registered address will be as follows:

Aveng Park

1 Jurgens Street

Jet Park

Boksburg

1459



The postal address remains the same as:

PO Box 6062

Rivonia

2128

19-Sep-2014
(Official Notice)
19-Sep-2014
(Official Notice)
Results of general meeting: convertible bonds

Aveng shareholders are referred to the circular to shareholders dated 18 August 2014 relating to the granting and approval of a specific authority to the Directors to allot and issue up to a maximum of 83 500 000 Aveng ordinary shares for the purpose of the settlement of the convertible bonds issued on 16 July 2014. Shareholders are advised that at the general meeting held today, the ordinary resolution relating to the approval of the issue of shares for cash was passed by the requisite majority of votes, receiving 97.93 % of the voting rights exercised on the resolution. .



No change statement and notice of AGM

Shareholders are hereby advised that the Integrated Report for the year ended 30 June 2014, which includes the summary consolidated annual financial statements and the notice of annual general meeting ("Integrated Report"), will be posted to Aveng shareholders on Monday, 22 September 2014 and contains no modifications to the audited group results for the year ended 30 June 2014, published on SENS and media on 26 August 2014 and therefore an abridged report will not be published.



The Integrated Report will be made available on the Company?s website (www.aveng.co.za) Notice is hereby given that the Seventieth Annual General Meeting of shareholders will be held at 10h00 on Tuesday, 4 November 2014 at Aveng Limited offices, Main Boardroom, Block E, 204 Rivonia Road, Morningside, 2057 to transact the business as set out in the Notice of the Annual General Meeting forming part of the Integrated Report.



Salient dates

The Integrated Report containing the notice of the Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 12 September 2014, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General meeting. The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 24 October 2014 (Voting Record Date). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Friday, 17 October 2014. Forms of proxy must be lodged by no later than 10h00 on Friday, 31 October 2014.
29-Aug-2014
(Official Notice)
Aveng shareholders are referred to the announcement on SENS, dated 16 July 2014, in which Aveng announced the successful placement of ZAR 2 billion senior unsecured convertible bonds with a coupon of 7.25% (the "Convertible Bonds").



An application for admission to trading of the Convertible Bonds on the Main Board was made to the JSE. This application was formally approved by the JSE on Thursday, 28 August 2014. The document setting out the full details of the Convertible Bonds ("Listing Document") is available for inspection on the JSE website (www.jse.co.za) and on the Aveng website (www.aveng.co.za) from Friday, 29 August 2014. The Listing Document is also available for inspection at the registered office of Aveng, being 204 Rivonia Road Morningside, Sandton, 2057.



The last day to trade the Convertible Bonds in their unlisted form (under Bond Code: UAEG, ISIN: ZAU000013807) will be Wednesday, 3 September 2014. The Convertible Bonds may be traded by or through members of the JSE in accordance with the rules and operating procedures for the time being of the JSE (under Stock Code: AEGCB, Short Name: AEG Conv and ISIN Code: ZAE000194940) from Thursday, 4 September 2014 ("Listed Convertible Bonds"). The clearing and settlement of trades on the JSE shall take place in accordance with the electronic clearing and settlement procedures of the JSE and Strate Ltd. The Bonds will not be rated.



Final positions for transfer will be determined on the record date, being Wednesday, 10 September 2014 and the Listed Convertible Bonds will be credited to the bondholders' accounts with the CSDPs on Thursday, 11 September 2014. The Listed Convertible Bonds will be traded in nominals of ZAR10 000 on the JSE's equity trading platform. Consequently, each bondholder will be allocated by their respective CSDPs 200 Listed Convertible Bonds of a ZAR10 000 denomination each, for every unlisted Convertible Bond with a denomination of ZAR2 million. Investors should be aware that the Listed Convertible Bonds will trade on a units basis.
26-Aug-2014
(C)
25-Aug-2014
(Official Notice)
Aveng shareholders are referred to the announcement on SENS, dated 18 August 2014 (the "Announcement"), in which Aveng announced the posting of a circular to shareholders, including a notice of general meeting (the "Circular"), to propose a resolution to grant the Aveng board a specific authority to issue shares for cash (the "Resolution") in order to convert the ZAR2 billion 7.25% senior unsecured convertible bonds, issued by Aveng, as announced on SENS on 16 July 2014 (the "Convertible Bonds").



Related party clarification

Both the Announcement and the Circular incorrectly describe Allan Gray as a "related party" in terms of the JSE Listings Requirements by claiming that it holds, directly or indirectly, more than a 10% beneficial interest in Aveng's ordinary shares at the commencement of the bookbuilding process for the Convertible Bonds.



It has since been brought to Aveng's attention that Allan Gray is neither a "related party" nor a "material shareholder" in terms of the JSE Listings Requirements as it is not entitled to exercise or control the exercise of 10% or more of the votes attached to Aveng's shares held by its clients nor has it been in such a position at any time during the past twelve months.



Accordingly, the JSE has ruled that any Allan Gray client or entity that did not participate in the Convertible Bonds is entitled to be present at the general meeting and to vote on the Resolution.



Voting Restriction

As per Section 5.51 (g) of the Listings Requirements, any Allan Gray client or entity or for that matter any other shareholder which is a holder of Convertible Bonds from the period commencing on the last day to trade date up to and including the date of the general meeting is not entitled to vote on the Resolution.
18-Aug-2014
(Official Notice)
30-Jul-2014
(Official Notice)
Shareholders are advised that non-executive director Mr Rick Hogben, will be retiring from the Board of directors of Aveng, following his decision to withdraw from all of his corporate commitments due to health reasons, with effect from Wednesday, 20 August 2014.
16-Jul-2014
(Official Notice)
16-Jul-2014
(Official Notice)
02-Jul-2014
(Official Notice)
04-Jun-2014
(Official Notice)
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the Aveng Group is pleased to announce the appointment of Adrian Macartney as Group Financial Director and Chief Financial Officer with effect from 8 September 2014. Mr Kobus Verster, who has been acting Group Financial Director in addition to his role as Chief Executive Officer, will relinquish his acting position upon Adrian joining Aveng.



Mr Macartney is a CA(SA) and holds a BCom degree from the University of the Witwatersrand and a BCompt Honours from the University of South Africa. Adrian is currently an Audit partner at EY with over 20 years of assurance, transactions and advisory experience. He initially joined Ernst - Young in 1992, based in Johannesburg, South Africa. Post qualification, he spent two years with PwC in New Zealand before returning to EY and making partner in 2001. He has provided audit, accounting, capital raising and due diligence services to clients in the mining and other sectors. His financial reporting experience includes both US GAAP and IFRS. The Board looks forward to the contribution that Mr Macartney will make to The Aveng Group.
25-Feb-2014
(C)
Revenue increased by 11% to R27.7 billion (R25 billion). Gross earnings declined by 8% to R2 billion (R2.1 billion). Net operating earnings was down by 8% to R503 million (R544 million). Net attributable profit was 22% lower at R308 million (R394 million). In addition, headline earnings per share fell by 21% to 82.1cps (104.5cps).



Outlook

The group will be seeking to optimise its current business portfolio focusing on cash management and financial returns whilst significantly reviewing its cost structures, operational efficiency as well as improving project delivery. The impact of changes in foreign currency and possible future labour disruptions on the results of the Group cannot be quantified. Key issues which will impact on the second half results are:

*the QCLNG and GCRT projects will remain a material financial risk to both profit and cash flow through to completion of the GCRT project and the outstanding claim processes and will continue to receive intense focus;

*under the leadership of the new Managing Director, Aveng Grinaker-LTA will continue with its turnaround initiatives;

*Aveng Manufacturing should benefit from the commissioning of the manufacturing plant in Tete in Mozambique with a specific focus on concrete sleeper products;

*Aveng Steel is expected to benefit from the strengthening of steel prices and improved sales volumes;

*For Aveng Mining:

**the Aveng Moolmans business unit will continue to manage its reduced activity and consequently revenue levels, whilst advancing preparations to ramp up its new contract awards that will be commissioned in the new financial year;

**the Aveng Mining Shafts - Underground business unit will focus on recovering margins at the two deep level shaft sinking contracts as well as preparing for its recent contract awards that will be commissioned in the new financial year;

*Aveng Engineering will focus on the execution of its Renewable Energy projects.



The Group anticipates improved trading conditions in the second half of the year against its comparative period.

18-Feb-2014
(Official Notice)
Aveng shareholders are advised that in respect of the unaudited financial results for the six months ended 31 December 2013, the Group anticipates earnings per share (EPS) and headline earnings per share (HEPS) to decline by between 20% and 25% in relation to the comparative period. This translates to EPS of between 78.8 and 84.0 cents per share and HEPS of between 78.4 and 83.6 cents per share.



Net operating earnings were 8% below the comparative period with Aveng Grinaker-LTA generating a materially higher loss and the Mining operating segment?s contribution being lower primarily as a result of the reduced order book which was reported on at 30 June 2013. Net financing expenses incurred in the current period were materially higher than the comparative period mainly due to the higher borrowings for the period due to the funding of working capital primarily on the large Queensland Curtis Liquefied Natural Gas project in Australia.



Further information will be made available in the interim results announcement. The above information has not been reviewed or reported on by the Aveng Group's auditors. The Group's interim results for the six months ended 31 December 2013 will be released on SENS on 25th February 2014 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 26th February 2014. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

11-Feb-2014
(Official Notice)
The Aveng Group is pleased to announce that Kobus Verster, currently the acting CEO and Financial Director, has been appointed Chief Executive Officer with immediate effect. Mr Verster (47) joined the Aveng Group on the 27 September 2010 when he was appointed Financial Director and he was subsequently appointed as Acting CEO on 21 August 2013.



Mr Verster holds a BCom degree from the University of Potchefstroom and a BCom Honours (Economics) degree from the University of Pretoria. He also holds an MBL from the University of South Africa (Unisa) and attended the Executive Management Programme at the University of Virginia in the USA. Prior to joining the Aveng Group Kobus was CFO at ArcelorMittal (South Africa) where he had previously held various senior management positions. Kobus has extensive experience in the steel and mining sectors and since joining Aveng has developed detailed insight into the Group?s operations and their opportunities and constraints.



Mr Verster has not relinquished his statutory duties in terms of Section 3.84(g) and will continue in his capacity as Acting Financial Director until a new Financial Director is employed. The process to appoint a new Financial Director is underway. Mr Angus Band, Chairman of the Board of Aveng Limited, said: "The Board considered a number of candidates, both locally and internationally but believes that this is the right appointment to take Aveng forward on a path to growth and improved performance. I would like to congratulate Kobus on his appointment and look forward to working with him."
16-Jan-2014
(Official Notice)
Aveng announced that the Queensland Curtis Liquefied Natural Gas ("QCLNG") pipeline and facilities project in Australia, in which McConnell Dowell is a 50% joint venture partner, achieved substantial completion on 30 November 2013. The client, QGC, formally confirmed that the so-called "gas-ready" milestone date was achieved in early December 2013. The client is satisfied with the delivery of this complex project which is a critically important milestone in the development of their overall liquefied natural gas project.



Although the project completion milestones were successfully met and the resulting milestone completion incentives were earned and received, the commercial claims resolution process remains a risk. In late-December 2013, the QCLNG joint venture was unsuccessful in the first part of the commercial claims arbitration. Based on the recent recommendation of the joint venture's legal advisors, it submitted its leave to appeal the outcome of this first claims award, on 15 January 2014.



For the remaining claims, which in both number and monetary value are considerably larger than those to which the initial arbitration award applied, it is the intent of the parties to expedite the arbitration process. Further information will be made available as further material developments relating to the commercial claims process emerge.
29-Nov-2013
(Official Notice)
The Aveng Group announces the following changes to its board:



The resignation of Mr Myles Ruck following his relocation to Cape Town and the resignation of Mr Nkululeko Sowazi due to other business commitments involving extensive time outside the country. These resignations are with effect from 6 December 2013 .



The board announced the appointments of Mr Eric Diack and Ms Kholeka Mzondeki as independent non-executive directors of the Aveng board with effect from 1 December 2013 and 1 January 2014 respectively.
20-Nov-2013
(Official Notice)
Aveng announced the appointment of Chris Botha as Managing Director of Aveng Grinaker-LTA with effect from 2 January 2014.



Mr Botha will work closely with Brian Wilmot, who has been acting as interim MD at Aveng Grinaker-LTA. Mr Wilmot will assist in the handover to Mr Botha. Thereafter in his capacity as MD of Aveng Construction Africa, Mr Wilmot will continue to contribute to the turnaround of Aveng Grinaker-LTA, with particular emphasis on positioning the business for sustainable growth by developing opportunities in sub-Saharan Africa.



Aveng announced that the senior management team of Aveng Grinaker-LTA has been strengthened by the recent appointment of five senior operations executives. These executives bring between 21 and 40 years' experience in the fields of financial business, systems management, commercial management, roads and earthworks and civil engineering. It is pleasing to note that three are former employees who have decided to return to Aveng.
01-Nov-2013
(Official Notice)
01-Nov-2013
(Official Notice)
Shareholders are advised that at the annual general meeting of Aveng held on 1 November 2013, all ordinary resolutions and special resolutions, as set out in the notice of annual general meeting included in the Company's 2013 Integrated Report, were passed by the requisite majority of Aveng shareholders.
30-Sep-2013
(Official Notice)
Shareholders were advised that the company's 2013 Integrated Report containing the consolidated and separate annual financial statements for the year ended 30 June 2013 will be posted to shareholders today, Monday 30 September 2013 and will also be available on the company's website (www.aveng.co.za). The consolidated and separate annual financial statements contain no changes or modifications to the audited condensed consolidated group results published on the SENS of the JSE Ltd. on 10 September 2013 and therefore the Group is not required to publish an abridged report. The consolidated and separate annual financial statements were audited by Ernst - Young Incorporated and their unqualified report is available for inspection at the company's registered office.



Notice of Annual General Meeting

The 69th Annual General Meeting of Aveng will be held at 204 Rivonia Road, Morningside, Sandton on Friday, 1 November 2013 at 10:00 for the purpose of conducting the business as stated in the Notice of Annual General Meeting included in the 2013 Integrated Report.
10-Sep-2013
(C)
21-Aug-2013
(Official Notice)
The Aveng board announced that after five years at the helm, Roger Jardine has tendered his resignation as CEO of Aveng with effect from 31 August 2013. Mr Jardine recently informed the Aveng board that with the Competition Commission's investigation into the construction industry now finalised, he had decided that this was an appropriate point for him to step down. While the performance of Aveng's South African Construction business has been a major disappointment, Mr Jardine added the rest of the group's business is holding its own under very difficult market conditions. The Nominations Committee of the board will commence the process to appoint a permanent CEO. Kobus Verster will assume the role of Acting CEO with effect from 1 September 2013.
05-Aug-2013
(Official Notice)
23-Jul-2013
(Official Notice)
Following the SENS announcement released on 24 June 2013, shareholders are now advised that the Competition Tribunal has confirmed the administrative penalty of R307 million, which is to be paid in three equal instalments over two years.
05-Jul-2013
(Media Comment)
According to Business Day, Aveng might be a big beneficiary of the government's infrastructure spending. Aveng is already involved in the construction of Eskom's two new power stations and has secured a portion of two renewable energy projects in a second bidding window, which is now in financial close. The group's steel business unit is also well-placed to benefit as a provider of specialised steel products to the local construction industry.
24-Jun-2013
(Official Notice)
On 24 June 2013 the Competition Commission (the "Commission") announced the various Settlement Agreements in terms of its "Fast Track Settlement Process". Shareholders are advised that Aveng (Africa) Ltd. has entered into a R306 576 143.00 Settlement Agreement with the Commission with respect to its Fast Track Settlement investigations into historical anti-competitive practices in the construction industry. This amount is to be settled in three annual payments of equal amount (R102 192 047.00), commencing on 1 July 2013, or within 30 days from the date of confirmation of the Settlement Agreement as an order of the Competition Tribunal (the "Tribunal"), whichever is the later. If confirmed by the Tribunal, this represents a full and final settlement of all alleged collusive conduct as defined in the Settlement Agreement. As announced previously, the group has already made adequate provision for this amount. The Aveng Board welcomes the resolution of this matter. The Board reiterates it has zero tolerance for anti- competitive behaviour and that management continues to implement a culture of good corporate governance throughout the Group.
03-Jun-2013
(Official Notice)
15-May-2013
(Media Comment)
Business Day highlighted that the Aveng Group has officially opened its Mozambique office in Maputo. Aveng operates in 30 countries. The move will see the group consolidate its operations in the country and strengthen its overall offering in Mozambique. Aveng is also completing the construction of a R160 million plant for the manufacture of infrastructure products in Tete.
03-May-2013
(Official Notice)
17-Apr-2013
(Official Notice)
Shareholders were advised that the special resolution approving the adoption of the company's Memorandum of Incorporation was passed by the requisite majority of votes at the general meeting held on 16 April 2013. The special resolution will be lodged for registration with the Companies and Intellectual Properties Commission.
15-Mar-2013
(Official Notice)
11-Mar-2013
(Official Notice)
The special resolution seeking to adopt the new Memorandum of Incorporation was first proposed at the Annual General Meeting held on 8 November 2012 and was subsequently withdrawn due to the requirement by foreign shareholders for executive directors to also be subject to the requirement that at least one third of the directors retire at each Annual General Meeting. In response to this request and upon recommendation of an Advisory firm, Aveng has agreed to amend the proposed Memorandum of Incorporation to provide for the rotation of both executive and non-executive directors. The amended new Memorandum of Incorporation has been approved by the JSE and is available for inspection at the Company's registered office, 204 Rivonia Road, Morningside, from 8 March 2013 until 17 April 2013.



Accordingly notice was given that a General Meeting of Aveng shareholders will be held in the boardroom of the Company, 204 Rivonia Road, Morningside on Wednesday 17 April 2013 at 10h00 to consider and, if deemed fit, pass, with or without modification, the special resolution set out hereunder in the manner required by the Companies Act 71 of 2008 (Act), as read with the Listing Requirements of the JSE Ltd. (JSE Listings Requirements), which meeting is to be participated in and voted at by shareholders as at the record date of Friday, 12 April 2013.



The record date for shareholders to be registered in the register of the Company for the purposes of being entitled to attend, participate in and vote at the General Meeting is Friday, 12 April 2013. Accordingly, the last date to trade in order to be registered as a shareholder in the Company's register on the record date is Friday, 5 April 2013. The notice of General Meeting was posted to shareholders on Friday 8 March 2013.
18-Feb-2013
(Official Notice)
Shareholders are advised that Aveng anticipates that earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended 31 December 2012 will be between 40% and 50% higher than those of the comparative six month period ended 31 December 2011. The expectations are therefore as follows:



*EPS of between 99.1 cents and 106.2 cents (December 2011: 70.8 cents); and

*HEPS of between 98.8 cents and 105.9 cents (December 2011: 70.6 cents).



The above information has not been reviewed or reported on by the Group auditors. The Group?s results will be released on SENS on 15th March 2013 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 18th March 2013. The presentation will be available for all stakeholders on the Group?s website, www.aveng.co.za
08-Feb-2013
(Official Notice)
The board of directors of Aveng notified its shareholders of the resignation of Mr Stephen Pell as Executive Director effective from 8 February 2013.



Having become aware of untested allegations been made in the media regarding alleged historical anti-competitive practices of companies at which Mr Pell was previously employed, which occurred prior to him joining the Aveng Group, Mr Pell has in the absolute interest of the company offered to resign.
04-Feb-2013
(Official Notice)
In September 2009 the Competition Commission launched a broad investigation into anti-competitive behaviour within the South African construction sector. In February 2011 the Commission invited companies to engage in a "fast track settlement" of contraventions of the Competition Act. Aveng has proactively engaged and cooperated with the Competition Commission and made applications for leniency in terms of this fast track settlement process. This matter is pending in the hands of the Commission. Aveng's view is that the investigation must be completed as soon as possible in order for the industry to move forward. Until the fast track process is complete, it would not be appropriate to comment further. Similarly, it is not appropriate to comment on pending investigations by the Commission or other authorities.



The current management of Aveng has taken rigorous action to root out historic anti-competitive conduct. Aveng introduced many initiatives and provided channels for employees and former employees to come forward and make full disclosure regarding any unlawful conduct. This information was forwarded to the appropriate authorities.
08-Nov-2012
(Official Notice)
At the annual general meeting of the company held on 8 November 2012, special resolution number 4 relating to the adoption of a New Memorandum of Incorporation was withdrawn. All the other special and ordinary resolutions were approved by the requisite majority, with the exception of ordinary resolution number 5 which is the remuneration policy and is a non-binding advisory vote which was not passed by a very small margin of 1%. The board will engage with the shareholders to address their concerns prior to the publication of the next Integrated Report.
08-Nov-2012
(Official Notice)
27-Sep-2012
(Official Notice)
Shareholders are advised that the company's 2012 integrated report containing the annual financial statements for the year ended 30 June 2012 will be posted to shareholders on 28 September 2012. The annual financial statements contain no changes or modifications to the audited preliminary results published on SENS on 5 September 2012.



Notice of AGM

The 68th annual general meeting of Aveng will be held at 204 Rivonia Road, Morningside, Sandton on Thursday 8th November 2012 at 10h00 for the purpose of conducting the business as stated in the notice of annual general meeting forming part of the 2012 integrate report.
10-Sep-2012
(Media Comment)
According to Business Report, Aveng has allocated R1.3 billion on its balance sheet for development projects mainly in the rail, automotive, power and water sectors. From this, R415 million is to be allocated to three projects aimed at expanding capacity in the manufacturing and processing segment of the group. Roger Jardine, chief executive, confirmed that the new blanking press in Port Elizabeth and a cut-to-length splitting line in Prospecton in Durban were among such projects. He added that the group catered for most of the locally based vehicle manufacturers and that it plans to capitalise on the openings presented by the new Automotive Production and Development Programme (APDP), to be carried out in 2013. Aveng's third project involves a R165 million investment in a manufacturing plant in Tete province, Mozambique, to take advantage of the infrastructure roll our taking place in the country. This investment is part of the group's expansion strategy of its rail offering in Africa and Australia.
05-Sep-2012
(C)
15-Aug-2012
(Official Notice)
11-Jul-2012
(Media Comment)
Aveng hosted a summit in Midrand attended by Trade and Industry Minister Rob Davies. At the summit, Mr Davies encouraged businesses to develop black entrepreneurs and invest in improving the skills of black people.
05-Jul-2012
(Official Notice)
Shareholders are advised of the appointment of Mr Mike Kilbride and Mr Mohamed Seedat as independent non-executive directors of Aveng with effect from 4 July 2012. The board furthermore advised that Ms Michele Nana has been appointed as company secretary of Aveng with effect from 1 August 2012 to replace the acting company secretary, iThemba Governance and Statutory Solutions (Pty) Ltd.
28-Jun-2012
(Media Comment)
The Financial Mail's "Top Companies 2012" annual list of South Africa's 200 largest companies showed that Aveng is the country's largest construction company ranked by net profit and total assets. Ranked by turnover, Aveng is South Africa's 31st-largest company.
21-Jun-2012
(Media Comment)
According to Business Report, Aveng and its banker, Nedbank, have agreed to a proposal by the government of Gabon to settle a legal dispute that has delayed a Eurobond coupon payment from the country for more than a week. Gabon's government previously said that a USD32 million coupon payment on its USD1 billion eurobond had been delayed because funds had been frozen by a court order obtained by a third-party creditor.
18-May-2012
(Official Notice)
Shareholders were hereby advised of the appointment of Mr Stephen Pell as an executive director of Aveng with effect from 1 June 2012.
30-Apr-2012
(Media Comment)
According to The Financial Mail's Top Empowerment Companies 2012 survey, Aveng is ranked as the third most empowered company in the :"Basic Industrials" sector and fifteenth out of 100 companies overall. Aveng's total BEE score was 86.56.
30-Mar-2012
(Media Comment)
Business Day reported that Aveng Grinaker has been awarded a shaft sinking contract at Wesizwe Platinum Ltd.'s Bakubung Platinum Mine, The contract is worth R1.64 billion.
14-Mar-2012
(C)
Revenue for the interim period increased by 13% to R19.1 billion (2010: R16.9 billion). Operating profit fell by 35% to R332 million (2010: R513 million), while profit attributable to equity holders of Aveng was lower at R274 million (2010: R416 million). Furthermore, headline earnings per share weakened by 34% to 70.6cps (2010: 106.9cps).



Dividend

No dividend was declared.



Outlook

The Aveng Group anticipates that the domestic infrastructure environment will remain under pressure over the short to medium term until meaningful public sector spend is more evident. The group's two year order book indicates that approximately 77% of the work over the period will be generated by its foreign operations. The Australian and Pacific Rim infrastructure market is expected to remain strong on the back of continued infrastructure investment in the mining, oil and gas sectors. This is reflected by a 62% increase in the McConnell Dowell two year order book of R31 billion, which underpins the 24% increase in the groups construction order book to R46 billion.



The Manufacturing - Processing segment is well positioned to participate in the anticipated increase in mining activity and rail infrastructure spend in South and Southern Africa and is expected to continue its improved performance over the short and medium term. Steel price volatility and the general state of the domestic infrastructure market will also continue to impact on the overall performance of this part of the business. Aveng Mining is expected to build on its current performance. The recent combination of the group's open-cut mining, deep shaft sinking and underground mining services capabilities into a single division is aimed at improving both product and service offerings to its customers in the mining sector.



Aveng remains well positioned both domestically and internationally to participate in key infrastructural growth areas, including water technology, power, rail and renewable energy.
23-Feb-2012
(Official Notice)
Shareholders were advised that Aveng anticipates that its earnings per share and headline earnings per share for the interim period to December 2011 will be lower than that of the comparative period ended 31 December 2010 by between 30% and 35%. (December 2010: earnings 107.0 cents: headline Earnings 106.9)



The reduction in earnings is primarily due to highly competitive construction and engineering markets, compounded by unresolved claims and some execution difficulties on a number of large projects. Despite a modest improvement in revenue, the South African construction and engineering business returned an operating loss for the six month period to December 2011. This deterioration was primarily as a result of underperforming contracts and project risk provisions. Unresolved claims on the sub-contracted steel fabrication projects for the Medupi and Kusile power plants continue to adversely impact the profitability and liquidity of this division.



Despite the difficult market, particularly in South Africa, the group's two year order book increased by 24% from R37 billion at 30 June 2011 to R46 billion at 31 December 2011, driven primarily by the demand from the mining and energy sectors in Australia. The Australia and Pacific construction order book increased by 62% to R30.6 billion. The interim results for the year to 31 December 2011 are expected to be released on Wednesday, 14 March 2012.
16-Feb-2012
(Official Notice)
Aveng wished to advise that Allan Gray's clients have, collectively, acquired an interest in the securities of Aveng, such that the aggregate interest has increased to 5.0006% of the present issued share capital of Aveng.
01-Dec-2011
(Official Notice)
Shareholders were advised of the resignation of Mr Keith Rumble as independent non-executive director of Aveng with effect from 1 December 2011 as a result of an onerous overseas travel schedule.
03-Nov-2011
(Official Notice)
At the annual general meeting of the company held on 3 November 2011, all the ordinary and special resolutions proposed in the integrated report which was sent to shareholders on 28 September 2011, were passed by the requisite majority. The advisory resolution in respect of the company's Remuneration Policy was also approved.
03-Nov-2011
(Official Notice)
Shareholders are advised that all of the special and ordinary resolutions proposed as incorporated in the Notice of General Meeting for the proposed restructuring of the original black economic empowerment deal entered into during 2004, dated 5 October 2011, were passed by the requisite majority of Aveng shareholders at the general meeting of the company held at 11:00 on Thursday, 3 November 2011. The conditions precedent ("Conditions Precedent") as referred to in the circular to shareholders, dated 5 October 2011("Circular"), have been fulfilled to the extent required and as such the Proposed Restructuring is unconditional as described in the Circular. All of the special resolutions will be submitted for registration at the Companies and Intellectual Property Commission in due course.
03-Nov-2011
(Official Notice)
25-Oct-2011
(Official Notice)
Shareholders were advised that all of the directors of Aveng have now approved the circular posted to shareholders on 5 October 2011 ("circular") by means of a directors' resolution, as required by the JSE listings requirements. The circular details the proposed restructuring of the original black economic empowerment deal entered into during 2004. As a result of the aforementioned, the JSE Ltd has granted formal approval of the circular.
25-Oct-2011
(Official Notice)
Shareholders are advised that, in terms of rule 3.59 of the Listing Requirements of the JSE Ltd, iThemba Governance and Statutory Solutions (Pty) Ltd shall, with effect from 4 November 2011, be appointed acting company secretary of Aveng Limited. The current company secretary, Mrs KE Robinson, has resigned with effect from 3 November 2011. iThemba Governance and Statutory Solutions (Pty) Ltd will be represented by Ms A van der Merwe who has more than 20 years' experience as corporate lawyer and company secretary in the listed environment.
05-Oct-2011
(Official Notice)
30-Sep-2011
(Official Notice)
Shareholders were advised that the company's 2011 integrated report containing the annual financial statements for the year ended 30 June 2011 was posted to shareholders on 28 September 2011. The annual financial statements contain no changes or modifications to the audited preliminary results published on SENS on 5 September 2011.



Notice of AGM

The 67th annual general meeting of Aveng will be held at 204 Rivonia Road, Morningside, Sandton on Thursday 3rd November 2011 at 10h00 for the purpose of conducting the business as stated in the notice of annual general meeting forming part of the 2011 integrated report.
05-Sep-2011
(C)
26-Jul-2011
(Media Comment)
According to Business Report, Aveng Trident Steel unveiled a R155 million blanking press line at its Port Elizabeth facility. Hercu Aucamp, the managing director of the subsidiary of Aveng, announced that the investment had created 20 direct jobs and "various" indirect new jobs. The 630 ton servo press blanking line will allow Aveng Trident Steel to press curved, trapezoidal or straight-edge blanks cost effectively for the motor manufacturing industry. The press will supply its motor industry customers who were supplied from operations in Gauteng, thereby saving on transport costs and increasing associated local activities. Aveng group chief executive Roger Jardine commented that the firm's investment was important because it was in a key sector, earmarked as an economic growth point for the country.
20-Jul-2011
(Official Notice)
Shareholders are advised that the Company anticipates that its earnings per share and headline earnings per share for the full year to 30 June 2011 will be lower than that of the corresponding period ended 30 June 2010 (480.3 cents and 483.6 respectively) by between 30% and 40%. These results, which reflect the impact of the difficult trading conditions prevailing within the South African construction and infrastructure environment, have been compounded by certain problematic contracts at McConnell Dowell in Australia, particularly in the first half of the financial year and the effect of the relatively strong currencies in both South Africa and Australia. The anticipated reduction in earnings includes provision for the Competition Commission settlement in respect of two complaints involving Aveng Manufacturing: Steeledale which amounted to R129 million. As anticipated, investment income has declined from the comparable period primarily as a result of decreased cash balances and lower prevailing interest rates The performance in the second half was positively affected by an improved contribution from the McConnell Dowell and Trident Steel operations. Aveng has continued to grow its order book in spite of the difficult market conditions. The two year order book amounted to R37 billion as at 30 June 2011, being 23% higher than the 31 December 2010 order book.



On 15 April 2011, certain divisions of Aveng (Africa) Ltd submitted applications relating to the Competition Commission's fast track settlement process. The company is unable to provide any further information until the Competition Commission has had the opportunity to evaluate the applications and has completed its investigation. Aveng remains committed to doing business ethically and will continue to co-operate and engage with the Competition Commission to finalise the settlement process. The audited results for the full year ended 30 June 2011 are scheduled for release on Monday, 5 September 2011. The company will hold its annual general meeting on 3 November 2011.
30-Jun-2011
(Official Notice)
At the general meeting of the company held on 30 June 2011, the special and ordinary resolutions proposed in the notice which was sent to shareholders on 6 June 2011, were passed by the requisite majorities.
23-Jun-2011
(Media Comment)
According to the Financial Mail's Top Companies 2011 Survey, Aveng is the number one construction company ranked by net profit. It is also ranked first in terms of total assets and equity funds, and is only slightly behind PPC by market capitalisation. Aveng had a market value of around R14.1 billion in December 2010, way ahead of its traditional rival Murray - Roberts Holdings Ltd, which had a market capitalisation of R8.8 billion.
12-May-2011
(Official Notice)
Aveng announced the appointment of Grahame McCaig as the managing director of Aveng Grinaker-LTA with effect from 1 November 2011. Mr McCaig will assume the role from Eugene Erasmus, who will retire from the Aveng Group at that time. Until such time as Mr McCaig assumes his appointment, Mr Erasmus will continue to re-position the Aveng Grinaker-LTA business for sustainable growth and will assist in the handover to Mr McCaig.
22-Mar-2011
(Official Notice)
In compliance with paragraph 3.59(a) of the Listings Requirements of the JSE Limited, the Aveng Group announce the appointment of Peter Erasmus as an independent non-executive director of the group with effect from 22 March 2011.

14-Mar-2011
(C)
01-Mar-2011
(Official Notice)
04-Feb-2011
(Media Comment)
Business Day reported that Aveng, SA largest construction group, said it remained committed to fully co-operating with the Competition Commission's bid-rigging investigations and remained confident that infrastructure investment in SA would rebound in the medium term. CEO Roger Jardine said the group was ensuring that its employees, management and directors did not engage in any conduct which constituted a prohibited practice. Mr Jardine added that the measures Aveng has put in place include a compliance review, immunity and tip off hotlines as well as ensuring that the company has thoroughly trained staff on Competition Law.
03-Feb-2011
(Official Notice)
31-Jan-2011
(Official Notice)
Shareholders are advised that the company anticipates that headline earning per share (HEPS) and earnings per share (EPS) for the six months to 31 December 2010 will be between 15% and 20% lower than that of the corresponding six month period ended 31 December 2009. Notwithstanding tighter margins in the South African Construction segment, earnings by Grinaker-LTA are only expected to be marginally down on the corresponding period last year. Whilst Grinaker-LTA is experiencing some payment delays on a few domestic contracts, the group's revenue recognition policy is conservative.



Earnings by subsidiary company, McConnell Dowell Corporation ("MacDow") which operates in the Australasia and the Pacific Rim Construction segment are lower than the corresponding six month period as a result of the strength of the Australian dollar and some problematic contracts. The recent floods experienced in the Queensland and Victoria regions of Australia have had an impact on several projects across the sectors served by MacDow. While costs will be mitigated wherever possible, MacDow cannot yet accurately estimate the full impact. Delays on contracts are however expected to restrict revenue recognition and therefore adversely affect the performance of MacDow for the second half of the financial year. It is pleasing to report that the group has not had any employees injured in the flood.



The Manufacturing and Processing segment has remained under significant operating pressure due to a difficult trading environment and lower steel prices which has contributed to the group's anticipated decline in earnings. The Opencast Mining segment has continued to improve its contribution to group earnings in spite of the impact of a strong currency on its US dollar denominated contracts. Earnings for the period include the proceeds from the Aquarius settlement agreement of R87 million as advised in the company's announcement of 19 August 2010. The results for the six month period ending 31 December 2010 will be released on Monday, 14 March 2011.
14 Dec 2010 08:59:33
(Media Comment)
Business Day reported that Fitch believes that Aveng will receive a significant share of the planned government and state-owned enterprises infrastructure development projects in SA over the next five years. Even if a portion of the spending is deferred, there should still be sufficient critical power and water projects to sustain the operations for Aveng.
10 Dec 2010 09:05:27
(Official Notice)
Aveng announced the appointment of Thoko Mokgosi-Mwantembe as an independent non-executive director of the group with effect from 13 December 2010.
23 Nov 2010 10:06:24
(Media Comment)
According to Business Report, Aveng group subsidiary, E+PC, has won a contract to expand Kenmare's mining and processing facility in Mozambique. E+PC released a statement saying, "Kenmare will be enlisting E+PC's services to manage the total project, which has a capital value of approximately USD200 million (R1.39 million)". The project would increase ilmenite production by 50 percent to 1.2 million tons a year, with associated increases in rutile and zircon production.
25 Oct 2010 08:47:11
(Media Comment)
The Sunday Times Business Times reported that Aveng rose almost 2% on Friday, 22 November 2010, after saying that the group's project pipeline was stable at R110 billion. Aveng said the stronger rand was good for infrastructure development projects.
22 Oct 2010 10:23:02
(Official Notice)
At the annual general meeting of the company held on 22 October 2010, all the ordinary and special resolutions proposed in the annual report which was sent to shareholders on 30 September 2010, were passed by the requisite majority. The advisory resolution in respect of the company's remuneration policy was also approved. The special resolution will be lodged with the Companies and Intellectual Property Registration Office for registration in due course. The Aveng group announced that Vincent Mntambo has retired from the Board. Mr Mntambo has served on the board of directors for three terms and in terms of the articles of association, did not make himself available for re- election at the AGM.
22 Oct 2010 10:02:40
(Official Notice)
07 Oct 2010 09:06:28
(Media Comment)
Business Day reported that construction and engineering group Aveng has warned that the civil engineering sector may go into decline after next year as tender inquiries and the value of contracts awarded in the past year sharply drop. Chairman Angus Band indicated that projects in preparation for the soccer world cup represented a significant portion of construction expenditure and shielded the industry from the brunt of the economic downturn, while easing the level of unemployment in the short term.



Aveng believes that by leveraging proven private sector expertise through public-private partnerships, the country can speed up public infrastructure investment intiatives.The group is committed to partner with government wherever needed. CEO Roger Jardine said Aveng continued to show leadership in infrastructure development during the year under review.
05 Oct 2010 09:03:54
(Media Comment)
Business Day reported Aveng is now the largest listed local construction company with a market value of R16.8 billion. The group has overtaken Murray - Roberts Holdings Ltd's market capitalisation of R14.9 billion and is also on the verge of joining the JSE's Top 40 Index. Aveng spokesman, Kim Keller, said that the company's share price was approaching the crucial R44.00 mark, which is the criterion for joining the Top 40 Index. Since early September, Aveng's share price has risen from R36.00 to close at R42.50 on Monday, 4 October 2010.
01 Oct 2010 07:23:32
(Official Notice)
Shareholders are advised that the company's 2010 annual report containing the annual financial statements for the year ended 30 June 2010 was posted to shareholders on 30 September 2010. A modification to the results which were announced on 8 September 2010 has been made in respect of the diluted weighted average number of shares in issue at 30 June 2010 from 407 million to 424 million. The annual financial statements were audited by Ernst - Young Inc. and their unqualified report is available for inspection at the company's registered office.



The 66th annual general meeting of Aveng Ltd will be held at 204 Rivonia Road, Morningside, Sandton on Friday 22 October 2010 at 10h00 for the purpose of conducting the business as stated in the Notice of Annual General Meeting forming part of the 2010 annual report.

16 Sep 2010 08:28:22
(Media Comment)
According to The Financial Mail, Aveng's intention to focus on infrastructure projects will lead the company to investigate power, including wind and solar technologies, and water projects. CEO Roger Jardine foresees R3 billion worth of water-related opportunities until 2012. Aveng has also invested in technology which will be able to tackle the pressing problem of acid mine drainage, especially in Gauteng. The group also plans to make acquisitions once market conditions improve.
09 Sep 2010 09:18:17
(Media Comment)
Business Day reported that despite the Aveng group posting a drop in profit and headline earnings per share for the year ended June, the group's underlying businesses remained solid and strong. CEO Roger Jardine said that while industry conditions were anticipated to remain relatively difficult, the group identified a stable and healthy project opportunity pipeline of R102 billion and a two year order book of R31 billion. Mr Jardine added that with a stable order book, healthy pipeline and multi-disciplinary capabilities, Aveng are well positioned to compete successfully in a difficult market in the year ahead.
09 Sep 2010 08:58:04
(Media Comment)
Business Report highlighted that construction group Aveng plans to play a key role in offering solutions to the problem of toxic mining water, which is posing a threat to the environment in South Africa. CEO Roger Jardine indicated that the group was refining its water strategy and expertise in acid mine drainage to offer solutions to SA and the rest of Africa. Mr Jardine said the group was working on new technology called the higher precipitation recovery osmosis process, which has a proven water recovery rate of 98% compared with the global benchmark of 85%. The group's division, Engineering and Projects Company, commissioned three water treatment plants during the financial year.



Mr Jardine added that having secured an acid mine drainage project in Australia, the group continued to focus on extending its expertise and leadership position in acid mine drainage, water treatment and desalination projects. Mr Jardine indicated that the approach would be to focus on private mining clients and engage the public sector once acid mine drainage comes into the market. Acid mine drainage is one of SA's most serious pollution problems. In light of this the group had prioritised the development of water treatment solutions.



08 Sep 2010 15:27:00
(Official Notice)
Further to the announcement released this morning, shareholders were advised that the reference to operating profit in the highlights section should have read as "operating profit constant at R2.1 billion". The operating profit figure was reported correctly in the financial review and in the consolidated statement of comprehensive income.
08 Sep 2010 08:30:00
(C)
10 Aug 2010 12:18:54
(Official Notice)
Aveng issued a SENS announcement on 1 October 2009 advising shareholders of an investigation by the Competition Commission into historical anti-competitive practices within the roof bolt division of Duraset, a business unit in the Aveng Manufacturing operating group, which is in turn, a division of Aveng (Africa) Ltd. Following discussions with the Competition Commission, Aveng (Africa) Ltd has entered into a settlement agreement with the Commission to settle the complaint against Duraset. Subject to confirmation of the settlement agreement by the Competition Tribunal, Aveng (Africa) Ltd has agreed to pay an administrative penalty in the amount of R21.9 million, which represents 5% of Duraset's annual turnover for the financial year ending 30 June 2008.



Further to the various SENS announcements issued during 2008, 2009 and 2010 in which shareholders have been kept informed of the group's involvement with the Competition Commission, shareholders are advised that the referral to the Competition Tribunal of the investigation involving the Steeledale Mesh business unit has been set down for the hearing of evidence and argument in November 2010. In other matters which may potentially involve group businesses, the Competition Commission is still engaged in investigations relating to the steel reinforcing and construction industries as well as other infrastructure products and services. Aveng remains committed to fully co-operating with the Competition Commission and ensuring that its employees, management and directors do not engage in any conduct which constitutes a prohibited practice in terms of The Aveng Group Code of Business Conduct. Provision has been made for estimated administrative penalties in terms of IAS 37.
10 Aug 2010 12:04:29
(Official Notice)
06 Aug 2010 13:01:15
(Official Notice)
Shareholders are advised that the company anticipates headline earning per share and earnings per share for the financial year ended 30 June 2010 to be lower than that of the corresponding period ended 30 June 2009 (528,5 cents and 538,8 cents respectively) by between 5% and 15%.



The manufacturing and processing segment of the Aveng Group remained under significant operating pressure due to lower demand for steel and fabricated products. The market showed improvement in the second half of the financial year compared to the first half of the year. The Opencast Mining segment has continued to improve its contribution to group earnings in spite of the impact of a strong currency on its US Dollar denominated contracts. In the Construction segment, Grinaker-LTA has lifted its contribution with an improvement in earnings on the back of the completion of large infrastructure projects and the continued benefits arising from its turnaround and restructuring project. Earnings in the Australasian and Pacific Rim Construction operations are down on the prior year and trading conditions remain tight in these markets. The second half of the year did however reflect a slight improvement over the performance of the first half of the year.



As anticipated, income from investments has declined from the comparable period primarily as a result of the lower interest rate environment. The financial information on which this statement is based has not been reviewed or reported on by the company's auditors. The results for the year ending 30 June 2010 are expected to be released on Wednesday, 8 September 2010.



Moolmans/Aquarius Litigation

Shareholders are advised that the damages claim instituted by Aquarius Platinum (South Africa) (Pty) Ltd against Aveng (Africa) Ltd and Mr Brian Wilmot, the managing director of the operating group Moolmans, in the amount of R963,775,098 has been withdrawn. Aveng (Africa) Ltd's counterclaims against Aquarius Platinum (South Africa) (Pty) Ltd are set down for trial in August 2010.

23 Jul 2010 08:22:41
(Official Notice)
Aveng is pleased to announce the appointment of Kobus Verster as an executive director of Aveng with effect from 1 September 2010. Aveng also announced the appointment of Eugene Erasmus as MD of Grinaker-LTA with immediate effect. Aveng is currently in a closed period and will release the results for the year ended 30 June 2010 on or about 8 September 2010.
07 Jul 2010 12:03:09
(Official Notice)
Aveng's financial director Simon Scott has resigned with effect from 26 September 2010 and will stand down from the board of directors of Aveng on that date. Aveng is currently in a closed period and will release the results for the year ended 30 June 2010 on or about 8 September 2010.
24 Jun 2010 09:25:27
(Media Comment)
Aveng was ranked twelfth in the Financial Mail's Top Companies 2010 survey. The company has also put in a remarkable overall performance over the pat five years, beating competitor Murray - Roberts Holdings Ltd's internal rate of return of 15.2%. In contrast, Aveng manages a much higher 51.7% return on assets over five years. In addition, in 2006 Aveng shares sat at below R20.00, whereas now they are around R36.00/share.
30 Apr 2010 08:43:09
(Media Comment)
Business Day reported that Aveng has signed a ten year operations and maintenance contract to run Areva's Trekkopje desalinisation plant in Namibia. Aveng will supply skilled personnel to operate the plant for ten years.
20 Apr 2010 07:52:39
(Media Comment)
Business Day reported that Aveng is planning to put greater energy into water treatment infrastructure as water becomes an increasingly scarce resource. CEO Roger Jardine said that target markets include Africa, Australia and the Middle East. Aveng has invested in local water treatment technology through its Keyplan subsidiary and the group hopes to build a desalinisation plant in the Eastern Cape.
06 Apr 2010 09:15:22
(Media Comment)
Fin Week reported, that Aveng feels the demand for steel and its price will be more favourable this year. Aveng has a lot of cash in hand and its sound balance sheet can position it well for the partnerships with government (PPP's) expected in the market.
25 Mar 2010 17:02:06
(Official Notice)
Shareholders were advised that Mrs K E Robinson has, with effect from 1 April 2010, been appointed company secretary of Aveng Ltd in place of Mr G J Baxter who retires from the group at the end of June 2010.
18 Mar 2010 08:32:20
(Media Comment)
Business Day reported that although Aveng had posted a 29% drop in operating profit for the interim period due to tough trading conditions, it is in a strong financial position with R3 billion in free cash it wants to use to acquire companies in the power and water industries. CEO Roger Jardine said that the group would also use its strong balance sheet to position itself to bid for large infrastructure projects worldwide. "The aim is to also strengthen our offerings in sectors we already operate in. There are a number of opportunities for us both locally and in the rest of Africa," Jardine commented. But he warned this year would still be tough due to volatile steel prices and a slow economic recovery. Aveng's six months results performance to the end of December reflected a tough operating environment with most construction companies taking a beating in the recession last year.
22 Feb 2010 13:07:15
(Official Notice)
Shareholders are advised that the company anticipates headline earnings per share and earnings per share for the six months to 31 December 2009 to be lower than that of the corresponding interim period ended 31 December 2008 (244.5 cents) by between 30% and 35%. The manufacturing and processing segments of the group remain under significant operating pressure due to reduced steel prices and lower demand for steel and fabricated products as some of the major infrastructure projects reach completion. In addition, in the comparable period ended December 2008, steel prices had not yet been fully impacted by the global economic downturn. The demand for cementitious products also remains depressed. The aggregate performance of these business segments for the six months to December 2009 does however show an improvement on the second half of the prior financial year. Opencast mining has improved its contribution to group earnings in spite of the impact of a strong currency.

The group's construction operations have lifted their contribution with a much improved operating performance from the South African business units. Margins within the group's Australian based construction operations have reduced marginally when compared to the comparable performance for the half year to December 2008 as trading conditions have tightened in its markets. As anticipated, income from investments has declined from the comparable period in 2008 following the reduction in interest rates and the reduction in cash on hand as a result of capital expenditure and the company's share buyback programme and special dividend in the latter part of the comparable period. The order book for the group's construction business currently stands at R32,7 billion, which is a marginal increase on the R31,9 billion reported in September 2009. The interim financial statements to December 2009 are scheduled to be released on Wednesday 17 March 2010. The financial information on which this statement is based has not been reviewed or reported on by the company's auditors.
10 Feb 2010 12:03:29
(Media Comment)
Aveng yesterday rallied 2.4% to R36.85 in early trade before closing higher at R37.02. JP Morgan Chase yesterday said Aveng, the country's largest building and engineering company by market value, is it's favourite South African construction stock. It raised it's recommendation on South African construction shares to "neutral" from "underweight".
26 Jan 2010 13:02:15
(Official Notice)
Dennis Gammie, the executive director responsible for business development and strategic projects, has decided to retire early with effect from 31 March 2010 and will stand down from the Aveng Ltd board.



Grinaker-LTA MD Neil Cloete, will leave the group by mutual agreement with effect from 28 February 2010.



Eugene Erasmus has been appointed Acting MD of Grinaker-LTA while the company conducts an in-depth search for a new MD for this business.
24 Nov 2009 09:24:38
(Media Comment)
According to Business Report, Aveng subsidiary Grinaker-LTA, has been awarded a R394 million contract to build a hospital in Mitchells Plain. The hospital is due to be completed by 2010.
05 Nov 2009 09:46:00
(Media Comment)
Neil Cloete, MD of Aveng subsidiary Grinaker-LTA, said in the Financial Mail that the group has concentrated on work in the local infrastructure sector, but it is now looking for contracts in other African countries in a more consistent fashion. Cloete says that the group has a "strategic roadmap" for projects in Africa based on previous experience.
26 Oct 2009 08:11:40
(Media Comment)
According to Business Day, Aveng's two-year order book had increased to R31.3 billion at the end of September 2009, compared with R30.4 billion in June 2009. This comes despite the delays in the awarding of contracts, especially in the public sector. Chairman Angus Band commented that the group continued to pursue opportunities in its total project pipeline, which remained stable at R100 billion.
23 Oct 2009 11:26:24
(Official Notice)
At the annual general meeting of the company held on 23 October 2009, all the ordinary and special resolutions proposed in the annual report which was sent to shareholders on 30 September 2009, were passed by the requisite majority. The special resolutions will be lodged with the Companies and Intellectual Property Registration Office for registration in due course.
23 Oct 2009 09:40:52
(Media Comment)
Finweek wrote in its "Technical Analysis" column that Aveng may be oversold and trending down in the short-term, but is on an upward trajectory in the medium-longer term. Aveng therefore has breakout potential.
16 Oct 2009 09:07:12
(Media Comment)
Aveng is positive about global economic prospects and the company said that it was eyeing a potential project pipeline of more than R100 billion in South Africa and overseas from 2010-2013. CEO Roger Jardine said in Business Day that this was "over and above the more than R30 billion worth of projects" that the group had in line already.
01 Oct 2009 17:12:01
(Official Notice)
Aveng advises shareholders that it has noted the referral of the competition commission's investigation into anti-competitive practices within the roof bolt division of Duraset, a business unit in the Aveng manufacturing operating group. An intensive compliance review undertaken by Aveng during 2008 revealed that Duraset may have been involved in certain anti-competitive practices in the roof bolt market. Upon discovery, Aveng immediately referred the matter to the competition commission. The commission has confirmed in its founding affidavit that Duraset stopped attending meetings with its competitors in February 2007. Duraset accounts for some 16% of the turnover of Aveng manufacturing.



In relation to the disclosure made to shareholders in the SENS announcement of 9 September 2008 regarding Aveng's involvement with the competition commission, shareholders are advised that the commission is still engaged in investigations relating to the steel reinforcing industry, including reinforcing steel and steel mesh, as referred to in that announcement. The commission is also investigating conduct involving Aveng in relation to certain other infrastructure products and services.



Furthermore, Aveng welcomes the competition commission's broad investigations into the construction industry, announced on 1 September 2009 and is committed to co-operating fully with the commission, as it has previously.
01 Oct 2009 10:52:29
(Official Notice)
Shareholders are advised that the company's 2009 annual report containing the annual financial statements for the year ended 30 June 2009 was posted to shareholders on 30 September 2009 and contains no modifications to the results which were announced on 9 September 2009. The 65th annual general meeting of Aveng will be held at 204 Rivonia Road, Morningside, Sandton on Friday 23 October 2009 at 10h00.
15 Sep 2009 11:01:07
(Media Comment)
Business Day reported that Citigroup has raised its recommendation on Aveng to "buy" from "hold" and its price estimate on the share to R52.60 from R40.00.
14 Sep 2009 08:35:59
(Media Comment)
Business Day reported that Aveng CEO, Roger Jardine, has warned that skills shortages together with environmental challenges resulting from rapid development could see a reversal of the socio-economic gains achieved by many developing countries. Jardine said Aveng has invested R57 million in staff training and heavily in skills development, education and environmental projects and the group "cannot hope for sustainable profits in the long term if we do not take our people and our planet into account."
10 Sep 2009 12:47:41
(Official Notice)
The board of Aveng is pleased to announce the appointment of May Hermanus and Keith Rumble as non-executive directors of the company with effect from 9 September 2009.



May Hermanus holds a Masters Science degree in Engineering from the University of the Witwatersrand and is currently the director of the Centre for Sustainability in Mining and Industry at the University of the Witwatersrand. May was previously a deputy director general in the Department of Minerals and Energy.



Keith Rumble completed a Masters Science degree in Geology (Geochemistry) at Rhodes University and has 30 years' experience in the mining industry, culminating in his serving as CEO of Impala Platinum Holdings Limited for 6 years.
10 Sep 2009 09:11:40
(Media Comment)
Listed construction and engineering group Aveng plans to use some of the R2.4 billion unencumbered cash on it's balance sheet to purse acquisitions, specifically in water infrastructure and power. Group chief executive Roger Jardine said yesterday Aveng wanted to focus on developing water infrastructure expertise and expand it's involvement in the power sector. Jardine said the group had had a number of targets in mind for a while. Jardine believed South Africa's nuclear power programme would eventually be revived. For that reason Aveng was monitoring the situation, identifying partners and positioning itself.

09 Sep 2009 08:02:16
(C)
The group reported a 14% increase in revenue to R33.8 billion (R29.6 billion). The group's operating profit declined by 13% to R2.1 billion (R2.4 billion) with an operating margin of 6.3% (8.2%), and net attributable profit decreased to R2.1 billion (R2.3 billion). In addition, headline earnings per share fell by 11% to 528.5cps (591.4cps).



Dividend

A final ordinal ordinary dividend of 145cps has been declared.



Outlook

The group anticipates that public works programmes in the markets it serves will be sustainable, but could be affected by delays. Private sector demand should start to increase on the back of improving commodity prices combined with a more positive outlook in the emerging markets of China and India, as well as the anticipated availability of bank funding as markets return to stability. Aveng will continue to focus on increasing overall margins through ongoing continuous improvement and optimising its internal value chain to offer complete solutions to clients.



The group's confirmed two-year Construction and Engineering order book has increased to R30.4 billion (R25.8 billion), an increase of 18%, showing that, despite the tight environment, the group maintained its ability to secure new projects. Grinaker-LTA has a two year order book of R10.1 billion, McConnell Dowell has two year work on hand of R13.1 billion and Moolmans has secured two year orders amounting to R6.4 billion.



Trading conditions for the manufacturing and processing segment are expected to be more stable with steel prices expected to be less volatile as evidenced by a cumulative increase of some 10% in July and August 2009 with a further price increase expected in October 2009. In addition the stock levels are now balanced with current demand levels. Demand for the products served by these businesses is still muted but should improve as infrastructural spending recovers. With its strong balance sheet and positive cash balances, the group is well positioned both defensively and for growth.
28 Aug 2009 10:31:30
(Media Comment)
Business Report noted that shares in Aveng rose on Thursday, 27 August 2009, on the back of an upwardly revised full-year earnings forecast. The shares closed 1.89% up at R37.70.
27 Aug 2009 16:31:52
(Official Notice)
Shareholders are referred to the trading update released on 30 June 2009 in which Aveng reported that as a result of the significant fall in the price of and demand for steel, the loss of investment income arising from the special dividend, the return of cash to shareholders and the share repurchase programme as well as the decreased demand for consumer related paving and landscape products, earnings per share would be 15% to 20% and headline earnings per share 20% to 25% lower than for the year ended 30 June 2008.



Shareholders are now advised that with the finalisation of accounting issues for the year and, in particular a stronger than expected profit performance from the construction and Engineering segment, the company anticipates that earnings per share will be 7% to 12% and headline earnings per share 9% to 14% lower than for the year ended 30 June 2008.



The financial information on which this statement is based has not been reviewed or reported on by the company's auditors. The results for the year ending 30 June 2009 are expected to be released on Wednesday 9 September 2009.
09 Jul 2009 08:30:29
(Media Comment)
Aveng's subsidiary Grinaker Ltd and Kentz have won the contract to execute national oil and gas company PetroSA's refinery shutdown in October. In a departure from past practices where it used to conduct it's own shutdowns with the help of labour brokers, PetroSA has opted for engineering managing partners. PetroSA said Grinaker LTA and Kentz would conduct the 37-day shutdown at it's gas-to-liquids plant in Mossel Bay and the FA offshore gas platform, which is situated 86Km south of Mossel Bay.
30 Jun 2009 15:53:36
(Official Notice)
25 Jun 2009 10:22:45
(Media Comment)
Aveng CEO Roger Jardine was quoted in the Financial Mail's Top Companies 2009 survey as saying that the group was "under no illusion, we are in the worst economic sump in our lifetime and margins will come under pressure". However, Jardine is hoping that government infrastructure spending in South Africa and Australia will keep its order book going.
22 Jun 2009 13:32:08
(Official Notice)
Aveng announced the appointment of Mr Simon Scott (51) as the FD of the group, with effect from 1 August 2009. Mr Scott will join Aveng from Anglo Platinum Ltd where he is Head: Financial Services. Prior to this he was acting CFO at Anglo Platinum. Mr Scott will serve on The Aveng Group's board of directors.



Mr Dennis Gammie, who has been Aveng's FD since the company's inception and JSE listing 11 years ago, will remain an executive director of the company. In his new role from 1 August 2009, Mr Gammie will be responsible for business development and strategic projects.
18 Jun 2009 07:42:06
(Media Comment)
The Financial Mail's Special Report on Infrastructure wrote that the original teething problems of the Grinaker-LTA merger have definitely been solved. The CEO of parent-company Aveng, Roger Jardine, is cautiously confident about the future. Jardine commented that "the market is generally tighter, and small to medium contractors have been particularly affected by this trend. Large contractors who are able to deliver complex projects have felt a more muted effect". Grinaker-LTA has been involved in the construction of three 2010-linked stadiums.
09 Apr 2009 10:01:18
(Media Comment)
According to the Financial Mail, Aveng is very cash-flush. The company has R6.38 billion in cash, which equates to almost 60% of its market capitalisation. In addition, some of Aveng's cash is held offshore, in hard currency, which can be used fast if needed.
30 Mar 2009 09:47:16
(Media Comment)
Finweek reported that analysts rate Aveng a "buy". Vestact's Sasha Naryshkine thinks that construction firms will get enough fill up from public infrastructure spending. For Aveng, this will be on top of already strong growth in its order book, to R29 billion.
19 Mar 2009 09:01:25
(Media Comment)
According to the Financial Mail, Aveng's Australian construction unit, McConnell Dowell, has outperformed the group's South African subsidiary, Grinaker LTA, for the first time. McConnell Dowell's two-year order book of R12.6 billion, is now larger than Grinaker LTA's R9.4 billion. Whether this situation will be reversed or not, depends on the extent of each country's infrastructure spending.
11 Mar 2009 07:49:03
(C)
Revenue increased by 30% to R17.8 billion (R13.7 billion) for the six months to December 2008. Operating profit rose by 39% to R1.4 billion (R1 billion) and net profit attributable to ordinary shareholders was up by more than half, to R952 million (R633 million). In addition, headline earnings grew by 43% to 244.4cps (171.4cps).



Dividend

No interim dividend has been declared.



Prospects

The confirmed two-year order book of R29.2 billion, which represents an increase of 13.2% from the June 2008 level of R25.8 billion, demonstrates that Aveng continued to secure new projects in spite of a tightening market. Grinaker-LTA and McConnell Dowell closed the period with two-year work on hand amounting to R9.4 billion and R12.6 billion respectively, compared to R9.5 billion and R11.5 billion as at June 2008. Moolmans' two-year order book of R6,1 billion has increased by 42% from R4.3 billion as at June 2008 as it secured several substantial opencast mining projects during the six months. The group maintained its momentum with regard to training, recruiting and retaining its pool of artisans, technicians and engineers to deliver on these opportunities.



Looking forward, the existing order book should ensure that the construction and engineering segment as well as the opencast mining operations will continue to achieve operating results, at least, in line with current levels of performance. The manufacturing and processing business units are, however, facing a very different market when compared to the same time last year when steel was in short supply, driven by high demand, and steel prices were rising sharply. The second half of this financial year will see a reversal of this trend with lower steel prices and a weaker market. Consequently, the operating performance of both Trident Steel and Steeledale will be under pressure. In addition, interest received will be lower, in line with lower cash balances. As a result, the group does not expect headline earnings for the second half of the 2008 financial year to be matched for 2009. Against the backdrop of the slower economic outlook and the ongoing effects of the global liquidity squeeze, the group's conservative approach to conducting business and its strong balance sheet, ensure that it is well positioned to weather the current adverse markets.
02 Mar 2009 13:27:01
(Official Notice)
The company anticipates headline earnings per share and earnings per share for the six months to 31 December 2008 to exceed that of the corresponding interim period ended 31 December 2007 (171.4 cents and 162.6 cents respectively) by between 40% and 50%. The interim financial statements to December 2008 are expected to be released on Wednesday, 11 March 2009.
13 Feb 2009 13:00:53
(Official Notice)
A SENS announcement issued on 9 September 2008 advised shareholders of an investigation by the competition commission into anti-competitive practices in relation to concrete products, which form part of a range of products manufactured by Infraset, a business unit within Aveng. Aveng hereby advises shareholders that after engaging with the commission it has yesterday entered into a consent agreement with the commission to settle a complaint arising from that investigation. This follows a finding by the commission that Infraset had contravened the competition act in relation to certain of its concrete products. In terms of the consent agreement, which is subject to confirmation by the competition tribunal, Aveng agreed to pay an administrative penalty in the amount of R46.3m, being 8% of the turnover attributable to Infraset in the previous financial year, less the turnover attributable to paving products. This amount will be paid to the commission in three equal annual payments.The group has suspended two executives implicated in the investigation pending an internal probe into any misconduct associated with the findings of the commission. Further disciplinary action may be taken depending on the outcome of this process. In addition, another executive has been placed on special leave. Aveng had already launched several initiatives prior to the competition commission investigation, including an educational programme in conjunction with a law firm to train senior executives in competition matters and the roll-out of an anti-corruption framework. In addition, Aveng will develop and implement a formal compliance programme as prescribed by the competition commission in terms of the consent agreement.

Aveng's board of directors is committed to good corporate practices, has a zero tolerance policy towards unethical behaviour and will continue to act swiftly to deal with any breaches of its code of business conduct and the competition act.The group expects every employee to adhere not only to the letter, but also to the spirit of the code and all relevant legislation. Aveng is committed to co-operating fully with the commission.
12 Dec 2008 13:45:37
(Official Notice)
The Aveng group has in the past only released trading updates just prior to the announcement of its financial results in respect of the half year and full year. In the prevailing economic climate the group has decided to release an additional operational update. Although the global financial crisis is negatively impacting the economies in which Aveng operates, the backlog in infrastructure projects, including coal fired power stations, roads and dams, continues to support public sector investment flows. The tender pipeline remains strong although it is taking longer for clients to finalise projects. While the decision by Eskom to postpone the nuclear 1 project is disappointing but understandable, Aveng has a high level of confidence in the continued infrastructure roll-out in the markets it serves.



The Aveng group's two year order book remains strong at R27 billion as was reported at the annual general meeting. Despite lower commodity prices impacting some projects in the mining sector the group has recently won several contracts, most notably:

*McConnell Dowell was awarded a R2.7 billion project from BHP Billiton Iron Ore Pty Ltd for the rapid growth project 5 marine works contract, which is a staged development valued in excess of R4.0 billion.

*Moolmans, the group's opencast mining contracting operation, is in the process of finalising four long term contracts with a combined value of R6.5 billion.

Global steel prices have declined sharply over the past six months as supply has exceeded demand. The reductions announced in South Africa since September 2008 are some 25% to 30% although motor industry steel prices increased by between 20% and 25% over the same time period. The impact will be an inevitable reduction in the group's manufacturing and processing segment's operating margin. The group's overall operating margin will reduce notwithstanding an improved performance from the construction and opencast mining activities.

With its diversified geographic spread and strong balance sheet Aveng is well- positioned to weather the current global liquidity crisis.
12 Dec 2008 12:39:19
(Official Notice)
In compliance with paragraphs 3.6.3 to 3.74 of the JSE listings requirements the following information is disclosed:

Name of director: P K Ward

Date of transaction: 11 December 2008

Nature of transaction: Purchase of shares

Number of shares: 2 000

Price: 3091 cents per share

Total value: R61 820

Nature of interest: Direct beneficial

Clearance obtained: Yes
27 Oct 2008 09:44:30
(Media Comment)
According to Business Report, Aveng boosted its order book in the most recent quarter. The group's order book rose to R27 billion at the end of September 2008, compared to R25.8 billion three months earlier. In addition, chairman Angus Band told shareholders at the company's annual general meeting that even though "South Africa will not emerge unscathed from the global financial crisis ... Aveng is well-placed to deliver material earnings growth in 2009".
24 Oct 2008 14:34:41
(Official Notice)
Shareholders are advised that at the annual general meeting of the company held on Friday 24 October 2008, the ordinary resolutions relating to -

*the adoption of the company's and the group's annual financial statements for the year ended 30 June 2008;

*the re-election of Messrs Band, Mntambo, Ruck, Jardine and Mashaba as directors of the company;

*the fees payable to non-executive directors of the company with effect from 1 October 2008;

were passed by the requisite majority. The special resolution relating to the purchase by the company's shares was also passed by the requisite majority.
19 Sep 2008 14:58:06
(Media Comment)
Even though Aveng has pointed to a global shortage of experienced and qualified people as a possible growth constraint, the Financial Mail has called Aveng a "diamond" in its weekly "Diamonds - Dogs" column. The column said that the business is firing on all cylinders at the moment and that the biggest problem is that there may be to much work to do.
09 Sep 2008 14:49:33
(Media Comment)
Business Day noted that Aveng's operations, which are spread across high-growth regions, such as Australasia, the Pacific Rim and southern Africa, have boosted the group's earnings. CE Roger Jardine said that billions are being spent in these regions on the development of infrastructure and that there is still a lot of momentum. The company has also managed to capitalise on the commodities boom.
30 Sep 2008 17:53:34
(Official Notice)
Shareholders are advised that the company's 2008 annual report containing the annual financial statements for the year ended 30 June 2008 was posted to shareholders on 29 September 2008 and contains no modifications to the results which were announced on 8 September 2008. The annual financial statements were audited by Ernst - Young Inc and their unqualified report is available for inspection at the company's registered office.



The 64th annual general meeting of Aveng will be held at 204 Rivonia Road, Morningside, Sandton on Friday 24 October 2008 at 12h00 for the purpose of conducting the business as stated in the Notice of annual general meeting forming part of the 2008 annual report.
09 Sep 2008 12:12:08
(Official Notice)
Aveng has advised shareholders that the Commission had identified issues in the building materials operations of the group. In order to provide shareholders with as complete disclosure as possible, the group is detailing all of its current involvement with the Competition Commission in the original SENS note.
09 Sep 2008 08:25:24
(Media Comment)
Eskom is expected to announce the outcome of the adjudication of bids for the construction of the first of its new nuclear power plant projects on Wednesday, 17 September 2008, Aveng CE Roger Jardine was quoted in Business Report as saying. Aveng has submitted one of two bids in alliance with France's Areva.
08 Sep 2008 07:55:29
(C)
In buoyant trading conditions of Aveng delivered a strong performance for the year ended 30 June 2008, underpinned by improved results from each of the operating groups. The 2008 financial year represents the first full reporting period since the disposal of the investment in Holcim. The group was able to extract operating leverage from the 34% increase in revenue to R29.6 billion, with overheads escalating by only 9%. Operating profit (excluding the profit on the Holcim sale) increased by 87% to R2.4 billion. The operating profit margin improved from 5.9% to 8.2% which exceeds the medium term target of 8% that was set two years ago. Diluted headline earnings per share rose by 85% to 535.7 cents. Cash generated by operating activities of R5.6 billion shows a R2.7 billion improvement over 2007. Cash flow earnings per share of 1 414 cents reflected an increase of 91% compared to the 739 cents at June 2007. The group closed the year with a net cash position of R8.9 billion, compared to R8.3 billion in 2007.



Dividend

A final dividend of 145 cents per share was declared for the period under review. An additional special dividend of 145 cents was also declared.



Prospects

The Aveng Group?s growth prospects are confirmed by the 36% increase in the two year order book to R25.8 billion. Grinaker-LTA`s two year pipeline is valued at R9.5 billion, McConnell Dowell?s R11.5 billion and E+PC`s R0.5 billion. Moolmans has a two year order book of R4.3 billion and still has capacity. These operations have all made significant investments to ensure that adequate capacity exists to deliver on these opportunities. Steel prices are expected to stabilise and demand should remain strong. As a result, Trident Steel should continue to perform well while Aveng Manufacturing is positioned to benefit from the general infrastructure surge.
21 Aug 2008 10:43:21
(Official Notice)
Shareholders are advised that the company anticipates headline earnings and earnings per share for the year ended 30 June 2008 to exceed that of the previous year ended 30 June 2007 by between 65% and 75%. The financial statements to 30 June 2008 are expected to be released on Monday 8 September 2008.
14 Aug 2008 07:27:02
(Media Comment)
Business Day noted that Aveng rose 6.3% to R61.14 on Wednesday, 14 August 2008, its biggest gain in four weeks, before ending the day at R59.00. Citigroup started research with a "buy" recommendation and price estimate of R70.00.
08 Aug 2008 08:23:43
(Media Comment)
Business Report noted that Aveng's construction subsidiary, Grinaker-LTA, has been awarded a R549 million contract to build Heineken's first brewery in South Africa. Grinaker-LTA's contracts director, Richard Amm, said a fast-track scheme would enable the brewery to be finished by June 2009.
25 Jul 2008 08:21:10
(Media Comment)
Business Report noted that Aveng jumped 3.6% to R56.98 on Thursday, 24 July 2008 after being added to the Standard - Poor's ("S-P's") 2008 Global Challengers list of 300 medium-sized companies. Sasfin Bank Holdings fund manager, David Shapiro, said that the addition of the share to S-P's list "seems to have attracted investors back to this stock".
24 Jul 2008 10:05:21
(Media Comment)
A Financial Mail Corporate Report on Aveng's construction subsidiary, Grinaker-LTA, said that the division is doing well and will continue to prosper. Division head, Neil Cloete, added that Grinaker "has a significant role to play in the development of our country and its people". Cloete also said that with the complex Grinaker-LTA merger now behind it, the division "has been accepted as a premier standalone brand by the market". Grinaker-LTA continues to benefit from the infrastructure and construction booms and is well-placed to continue doing so in the future. Among the unit's projects are the upgrading of the former FNB Stadium for the World Cup and building part of the Medupi Power Station in Limpopo.
08 Jul 2008 13:19:46
(Official Notice)
Brian Steele has reached the mandatory retirement age of 65 for non-executive directors and has retired from the board. Richard Savage has also reached the mandatory retirement age and will retire from the board on 11 July 2008. Roger Jardine has joined the board as chief executive officer with effect from 7 July 2008, as set out in the SENS announcement of 13 May 2008. Following the appointment of Roger Jardine, Angus Band who has been acting as executive chairman since 1 April 2008, re-assumes the position of chairman.
26 Jun 2008 10:54:15
(Media Comment)
Aveng is ranked first in total assets, and second in both market capitalisation and net profit in the construction and building materials sector of the JSE in the 2008 Financial Mail Top Companies survey. The group also moved from 94th to 66th in a list of the Top 200 Performers, with an IRR of 48% and earnings per share growth of 25%. The group also ranks number 32 on the list of South African Giants, with a turnover of R22.1 billion, two places up on 2007. In addition, according to Forbes, it is also among the 2000 largest companies in the world, coming in at 1644.
24 Jun 2008 08:26:48
(Media Comment)
Aveng is in the number one spot in the Financial Mail's 2008 Top Empowerment Companies rankings within the JSE's basic industries sector. The company's BEE score is 65.59%. This places Aveng 20th in the overall rankings. This is quite impressive for a group involved in a sector that has an image of being conservative. Former CEO Carl Grim said that Aveng has "always given the concept of empowerment top priority".
20 Jun 2008 10:59:31
(Media Comment)
Mining Weekly reported that Aveng subsidiary, Grinaker-LTA Civil Engineering ("Grinaker-LTA"), is involved in various capacity expenditure projects at Anglo Platinum Ltd's Rustenburg Base Metal Refineries. Grinaker-LTA will be accountable for all disciplines in the second phase, which was due to start towards the end of May 2008.
20 May 2008 09:32:51
(Official Notice)
Shareholders are advised that the company anticipates headline earnings and earnings per share for the year ending 30 June 2008 to exceed that of the previous year ended 30 June 2007 by between 40% and 50%. The groups two year contracting order book has grown by 32% from R22 billion at 30 December 2007 to R29 billion at 30 April 2008. The financial statements to 30 June 2008 are expected to be released on Monday 8 September 2008.
13 May 2008 12:52:47
(Official Notice)
The board of Aveng announced the appointment of Roger Jardine as Chief Executive Officer with effect from 7 July 2008. Angus Band will continue in his capacity as Executive Chairman of Aveng until 7 July 2008.
11 Mar 2008 07:44:51
(Media Comment)
According to Business Report, Aveng is confident that its alliance with France's Areva will win the company the bid for the first of Eskom's new nuclear power plant projects. The 3 300 megawatt Nuclear 1 project is under adjudication by Eskom. Carl Grim, Aveng's chief executive believed that Areva was "head and shoulders" above its rivals.
10 Mar 2008 07:21:34
(C)
Revenue was up by 29% to R13.7 billion and operating profit increased by 53% to R710 million with the operating margin improving from 4.4% to 5.2%. Headline earnings per share grew by 48% to 171 cents per share. The after tax interest income on the Holcim proceeds amounted to R240 million which compared to the equity accounted earnings of R217 million in the prior period. Cash generated by operating activities grew by 73% to R2.2 billion. The group?s continued capacity expansion programme to meet ongoing market demand resulted in an investment in new capacity of R352 million and replacement capacity of R219 million. Aveng`s net cash position was R9 billion at December 2007 compared to R8 billion in June 2007.



Dividends

It is group policy to consider paying a single annual dividend after the 30 June year-end.



Prospects

Both Grinaker-LTA and McConnell Dowell were successful in winning a number of new contracts, lifting their two year order books to around R11 billion each. The group?s construction order book of R22 billion is 16% up on last year and is 145% of the 2007 construction revenue. This growth is within the group?s target range which seeks to optimally balance winning current contracts while retaining capacity to participate in future opportunities where there will be strong demand for our skills. The current global boom in commodities which has been recently boosted by the coal shortages experienced by Eskom in South Africa will provide significant opportunities for Moolmans. Steel - Allied remain well positioned to continue to benefit from the buoyant trading conditions. The accelerating recovery in the performance of Aveng`s construction interests together with a sustained contribution from Steel - Allied will ensure that the group remains on track to meet its medium term objective of an 8% operating profit margin.
07 Mar 2008 13:49:23
(Official Notice)
In June 2007, shareholders were informed of the intention of Mr Carl Grim, the company's chief executive officer, to retire in 2008. In spite of an exhaustive process, a suitable replacement for Carl has not yet been identified. As Carl will be retiring on 31 March 2008, Angus Band, the company's chairman, will, as an interim measure, assume the role of executive chairman on 1 April 2008. In order to ensure that the appropriate standards of corporate governance are maintained Mr Richard Savage will assume the role of lead independent non-executive director. The process to identify a chief executive officer will continue and shareholders will be informed as soon as the position has been filled.
19 Feb 2008 16:42:46
(Official Notice)
Pursuant to the announcement on SENS on 31 October 2005, Aveng shareholders are advised that holders of R808 million of the R1 billion outstanding 6.125% Guaranteed Convertible Bonds due 2012 have given notice to convert the principal amount of each bond into ordinary shares in the ordinary share capital of the company at a conversion price of R14.88 per share. This is being done in accordance with the terms and conditions attaching to the bonds. Pursuant to the conversion notices, Aveng will allot and issue 54 301 071 ordinary shares to the relevant bondholders in fulfilling its obligations in respect of the bonds. Effect on the repurchase of ordinary shares (change to the repurchase ratios) In terms of the scheme of arrangement, Aveng will be repurchasing 55 409 291 ordinary shares from shareholders pursuant to the scheme. After the conversion of the bonds, the scheme shares in terms of the scheme will now equate to approximately 12.3% of the total issued ordinary shares of Aveng and, subject to the rounding principle as set out in the scheme circular, Aveng will now repurchase 3.5 out of every 100 shares from shareholders and Richtrau No. 191 (Pty) Ltd, a wholly owned subsidiary of Aveng, will purchase 8.8 out of every 100 shares from shareholders at the repurchase price of R61.58. Shareholders are advised that the dates and times detailed in the finalisation announcement on SENS on 7 February 2008 relating to the scheme, remain unchanged.
12 Feb 2008 13:44:58
(Official Notice)
Shareholders are advised that the company anticipates headline earnings and earnings per share for the interim period to 31 December 2007 to exceed that of the corresponding interim period ended 31 December 2006 by between 40% and 50%. It should be noted that in the light of the significant increase in headline earnings and earnings recorded in the second six months of the 2007 financial year, together with the impact on interest received of the repayment to shareholders of a portion of the proceeds of the Holcim disposal, an increase similar to that referred to above, is not anticipated for the second half of the current financial year. The financial information on which this statement is based has not been reviewed or reported on by the company's auditors. The interim financial statements to 31 December 2007 are expected to be released on Monday 10 March 2008.
07 Feb 2008 14:44:12
(Official Notice)
Further to the announcement released on SENS on Tuesday 5 February 2008 and published in the South African press on Wednesday 6 February 2008, Aveng is pleased to announce that all the conditions precedent in relation to the scheme of arrangement to repurchase 14% of its issued share capital have been fulfilled. The scheme consideration is R61.58 per share. The final dates and times of the scheme will be:

*Last day to trade in Aveng shares -- Friday 15 February 2008

*Aveng shares commence trading under the new ISIN ZAE000111829 -- Monday 18 February 2008

*Record date to participate in the scheme -- Friday 22 February 2008
06 Feb 2008 16:19:47
(Official Notice)
In compliance with rule 3.63 to 3.74 of the Listing Requirements, in respect of the director`s dealing announcement published on SENS on 29 January 2008, prior clearance for the transaction was obtained.

05 Feb 2008 17:33:59
(Official Notice)
Aveng announced that the High Court had sanctioned the scheme of arrangement relating to the repurchase of 14% of its issued share capital, at a hearing on 5 February 2008. Accordingly, all the conditions precedent of the scheme have been satisfied, other than the condition relating to a certified copy of the Order of Court sanctioning the scheme being registered by the Registrar Of Companies in terms of the Companies Act. An announcement regarding the fulfillment of the outstanding condition precedent referred to above, will be released on SENS and published in the press in due course.
24 Jul 2006 17:29:03
(Official Notice)
Aveng announced the resignation of Mr K W Meissner-Roloff as a director with effect from 20 July 2006. The board will now be constituted as follows:

*R B Savage Chairman

*C Grim Chief Executive

*A W B Band

*B P J Fourie

*D R Gammie

*L Gcabashe (Ms)

*J R Hersov

*V Z Mntambo

*D G Robinson

*B P Steele
13 Jul 2006 13:59:14
(Media Comment)
Aveng CEO, Carl Grim, says the company stands to benefit in the short term from the weakening of the Rand. He told Financial Mail that demand for steel increased in June 2006 which he attributes to the softening of the local currency.
05 Jul 2006 10:47:35
(Media Comment)
Top Companies 2006, a Financial Mail publication, ranked Aveng in third place in the construction and building materials sector. The ranking was based on net profit.
04 Jul 2006 10:34:13
(Media Comment)
An article in Business Day's 4 July 2006 edition noted that Forecast Factory had strongly recommended a "hold +" relating to Aveng shares. The newspaper indicated that the recommendation is marginally less stronger than a "buy".
07 Jun 2006 10:38:22
(Media Comment)
Finweek noted in it's 1 June 06 edition that Holcim, a subsidiary of Aveng, was considering the viability of constructing a cement kiln that would cost the company as much as R1.9 billion.
24 May 2006 10:30:27
(Media Comment)
Holcim, a subsidiary of Aveng, told Business Day that it would finalise a feasibility study on a new cement kiln in the second half of 2006. The company's investment in the project would cost R1.9 billion and, if feasible, the kiln would be larger than its competitors and benefit from economies of scale.
11 May 2006 15:58:14
(Official Notice)
Aveng has appointed A W B Band as a non-executive director of the company with effect from 1 July 2006. With effect from 1 July 2006, the board will be constituted as follows:

Non-Executive

*R B Savage Chairman

*A W B Band

*L Gcabashe (Ms)

*J R Hersov

*K W Meissner-Roloff

*V Z Mntambo

*B P Steele



Executive

*C Grim Chief Executive

*B P J Fourie

*D R Gammie

*D G Robinson

19 Apr 2006 11:25:09
(Media Comment)
Grinaker-LTA together with Wilson Bayly Holmes Ovcon announced that they had secured a R715m construction contract for a new office development in Gauteng scheduled for completion in 2008.
19 Apr 2006 10:51:47
(Media Comment)
Aveng has appointed Eddie du Rand as MD of Grinaker-LTA Construction, replacing Howard Jones who left after 34 years with the group. Business Report noted that du Rand joined Aveng in 1993 and had been at the helm of Grinaker-LTA's mechanical and engineering unit for the past five years.
28 Mar 2006 12:00:32
(Official Notice)
Deputy chairman Wendy Lucas-Bull resigned from the board of Aveng with effect from 31 March 2006. Wendy has served on the board since 3 January 2005 and has made a major contribution in developing the group's strategy for effectively dealing with the challenges of sustainable development in South Africa. Subsequent to joining the board, she became a shareholder of Peotona, a new womens investment company. Peotona wishes to pursue an investment opportunity, which if concluded, would lead to a conflict of interest for Wendy in the future.



Howard Jones, the managing director of Grinaker-LTA Construction, has decided to take early retirement effective 31 March 2006 and will accordingly be resigning from the Aveng board on that date.
23 Mar 2006 11:40:14
(Media Comment)
Commenting on Chinese construction companies winning two large contracts by undercutting South African companies, Carl Grim, chief executive of Aveng, told Financial Mail, "It's almost impossible to compete with a company backed by the state unless you have very deep pockets". Grim was expressing his view that the Chinese companies were either heavily subsidised or state-owned.
17 Mar 2006 11:03:55
(Media Comment)
Commenting on the amount of activity in the construction sector over the next year, Carl Grim, Aveng chief executive officer, told Finweek that the group would be more comfortable with an order book of not more than 100%. The group's order book is currently at 102%.
08 Mar 2006 14:00:58
(Official Notice)
On 7 March 2006, the following director of Aveng advised the office of the company secretary of a sale of share options:



Name of Director : H D K Jones

Date of Transaction : 7 March 2006

Nature of transaction : Purchase of options

Amount traded : 681 250

Class of securities : Share options

Average option cost : 617.20c

Volume purchased : 681 250

Nature of interest : Direct beneficial



Name of Director : H D K Jones

Date of Transaction : 7 March 2006

Nature of transaction: Sale of options

Selling price per unit: 2455c

Amount traded : 681 250

Class of security: Share options

Pre-clearance obtained: Yes

Nature of interest : Direct beneficial



Name of Director : D G Robinson

Date of Transaction : 7 March 2006

Nature of transaction : Purchase of options

Amount traded : 75 000

Class of securities : Share options

Average option cost : 580c

Volume purchased : 75 000

Nature of interest : Direct beneficial



Name of director : D G Robinson

Date of Transaction : 7 March 2006

Nature of Transaction : Sale of Options

Selling price per unit : 2455c

Amount traded : 75 000

Class of security : Share Options

Pre-clearance obtained : Yes

Nature of interest : Direct beneficial





07 Mar 2006 11:34:58
(Media Comment)
Commenting at the group's results presentation Carl Grim, chief executive of Aveng, noted that he was optimistic about the government's plans to boost annual fixed investment to 25% of GDP by 2014. Business Day reported that the construction industry previously expressed concern about their perceptions of slow implementation of infrastructure projects.
07 Mar 2006 10:02:22
(Media Comment)
In an article in the Business Day relating to the lack of skilled workers in the construction industry, The Bottom Line noted that the number of building industry artisans registrations fell from 2000 in 1972 to nearly zero, citing Carl Grim, CEO of Aveng, as the source.
07 Mar 2006 09:27:12
(Media Comment)
Commenting on Aveng's results, Business Report noted that the group's headline earning rose 52% to 51.8cps from 34cps in the previous comparative period. The group's share price closed 4c higher at R24.55 on 6 March 06.
06 Mar 2006 09:20:48
(C)
Aveng's Grinaker-LTA Construction company posted revenue up to R3.6 billion for the six months to December 05, and would have posted an operating profit of R12 million against a prior period loss of R12 million were it not for a R219 million underpayment to Moolmans by Aquarius Platimum (which amount the group would contest). McConnell grew its revenue 35% to R1.2 billion reversed the operating loss of the prior comparable period to an operating profit of R29 million. The group's steel and allied cluster's revenue improved by 21% to R2.8 billion with operating profit at R229 million and Holcim's revenue rose 15% to R2.3 billion with operating income up 11% to R603 million. On a group level, revenue rose 14% to R7.6 billion, operating income was 53% higher at R165 million and headline earnings of R202 million (or 51.8 cps against 34cps for the prior comparable period) were 52% better. Aveng's net asset value improved from 648cps to 803cps and cash generated by operations was R592 million against R92 million during the comparable six month period. Net debt reduced to R668 million from R1.5 billion at year end.



Dividend

Group policy remains to consider paying a single annual dividend after its June year end.



Prospects

Aveng commented that, given the performance of the South African building and civil engineering markets, Grinaker-LTA Construction and the balance of the business were expected to perform well for the balance of the year.
06 Feb 2006 12:29:34
(Media Comment)
Commenting on Aveng's trading statement released on 3 February 2006, analysts are of the view that the group may report improved margins in its construction division. Warwick Lucas, an analyst at SP Reid, affirmed their views by indicating to Business Day that a turnaround was likely in the review period and cement and steel sales were expected to maintain growth.
06 Feb 2006 12:25:42
(Media Comment)
Business Report noted in its 6 February 2006 edition that South Africa's biggest construction and engineering company, Aveng, expected headline earnings per share and earnings per share to be between 40% and 60% higher than its previous interim period to December 2004.
03 Feb 2006 14:24:56
(Official Notice)
Aveng announced on 3 February 2006 that it expected headline earnings per share and earnings per share for the interim period to 31 December 2005 to increase by between 40% and 60% compared to the previous comparative period. The group's interim results are expected to be released on Monday, 6 March 2006.
01 Feb 2006 14:52:53
(Official Notice)
Aveng released an announcement on 1 February 2006 stating that the previous announcement on the same day incorrectly noted the new company secretary's name as Mr C J Baxter. This should read Mr G J Baxter.
01 Feb 2006 11:00:50
(Official Notice)
Aveng announced on 1 February 2006 that CM Bishop, the group's company secretary, would assume the group financial management responsibilities. C J Baxter, who was promoted from Grinaker-LTA, would take over Bishop's position as company secretary.
01 Feb 2006 09:25:03
(Media Comment)
McConnell Dowell, a wholly owned Australian subsidiary of Aveng, in a joint venture with Penta Ocean, was awarded a contract to build parts for a petroleum storage terminal in Singapore. Business Day noted on 1 February 2006 that the contract was valued at R410 million.
20 Dec 2005 17:21:37
(Official Notice)
Moolman Mining contracted with Aquarius Platinum (South Africa) (Pty) Ltd (APQSA) to provide a drill, blast, load and haul contracting mining service at the Marikana mine. This contract accounted for approximately 1.5% of Aveng's revenue in the past financial year.



A dispute arose when APQSA underpaid Moolmans on their monthly certificates. Arising from this dispute the parties agreed that independent auditors KPMG would report on inter-alia the contract expenditure incurred on the Marikana Mine and the accuracy of the calculation of the contract expenditure allocated to each of the cost elements fuel, local and foreign for the period from inception to 31 December 2002 and for each six months period thereafter and to determine the actual weightings for these cost elements for the same period. Based on this report an invoice was issued by Moolmans for R169 million in respect whereof payment was not received on due date.



The underpayment has escalated to over R200 million at the end of November. In addition, substantial claims in respect of standing time and other variations have been lodged by Moolmans.



On 19 December 05 APQSA notified Moolmans that it had taken the decision to "rescind" the Marikana mining contract with immediate effect, based on an "actionable misrepresentation" at the time of agreeing the contract approximately four years ago.



Moolmans advised APQSA that it denies misrepresenting any material facts and that their seeking to rescind the agreement constituted an unlawful repudiation of the contract which has been accepted by Moolmans. Moolmans stated that it would be exercising its right to claim all amounts due to it in terms of the contract and at law. Moolmans ceased operations at Marikana and will be seeking to redeploy the large number of people and substantial quantity of equipment employed on the project.
31 Oct 2005 15:57:44
(Official Notice)
Notice is hereby given to the holders of the bonds that, following the passing at the annual general meeting of the company held on 28 October 2005 of an ordinary resolution to disapply the pre-emption rights of shareholders, pursuant to conditions 6(a) and 11(a) of the terms and conditions of the bonds the company will, on and with effect from 7 November 2005, increase the conversion amount by R1 000 000 to R1 000 000 and decrease the cash settled amount by R1 000 000 to R0.00. Following the increase to the conversion amount holders of the bonds will, subject to the conditions, be entitled to convert the principal amount of each bond into ordinary shares in the ordinary share capital of the company in accordance with the conditions.
28 Oct 2005 10:57:08
(Official Notice)
Shareholders are advised that Mr H D K Jones sold 25 000 shares on 20 October 05 at R16.45 per share. The transaction was of a directly beneficial nature.

31 Oct 2005 08:38:08
(Official Notice)
Mr PL Erasmus, having reached the mandatory retirement age for non-executive directors, retired from the board of the company on 28 October 2005. Ms WE Lucas-Bull succeeds Mr PL Erasmus as deputy chairman of the board. The board is now constituted as follows:

Non-executive

*R B Savage: Chairman

*W E Lucas-Bull: Deputy Chairman (appointed - 28 October 2005)

*L Gcabashe

*J R Hersov

*K W Meissner-Roloff

*V Z Mntambo

*B P Steele

Executive

*C Grim: Chief Executive

*B P J Fourie

*D R Gammie

*H D K Jones

*D G Robinson

28 Oct 2005 17:39:04
(Official Notice)
Retirement by rotation and re-election:

In terms of the company's articles of association, Messrs DR Gammie, DG Robinson, HDK Jones and Ms WE Lucas-Bull, were re-elected as directors following their retirement by rotation.



Directors' fees - (Ordinary Resolution No 1) :

Resolved by means of an ordinary resolution that; Annual fees payable to non-executive directors be increased by 6%, effective 1 October 2005. Annual fees payable for chairing the board, acting as deputy chairman of the board, chairing and serving on sub-committees of the board, serving on the boards and audit committees of subsidiaries and attending meetings of such boards, be increased by 6%, effective 1 October 2005. Allotment and issue of ordinary shares in respect of the guaranteed convertible.



Bond - (Ordinary Resolutions No 2 - 3) :

Resolved by means of an ordinary resolution requiring a majority of more than 75% of the votes to be effective for the purposes of the JSE Listing Requirements that; The directors be authorised to allot and issue 71 307 597 ordinary shares in the company, which constitutes approximately 18% of the current total issued ordinary share of the company to holders of the R1 billion, 6.125% guaranteed convertible bonds due 2012, as may be required for the conversion of the bonds into ordinary shares in accordance with their terms.
28 Oct 2005 13:20:45
(Official Notice)
The following statement was made by Aveng's chairman at the company's annual general meeting held on Friday, 28 October 2005.



Our cement, steel and manufacturing businesses are maintaining the strong performance trend established during past years. Results from these operating groups for the first quarter of the 2006 financial year are slightly ahead of expectations.



Demand for Aveng's construction services has strengthened since year end. Grinaker-LTA's order book grew by 10% to R7.6 billion during the quarter ended September 2005 with McConnell Dowell recording a 27% increase to AUD460 million over the same period.



We continue to be encouraged by Government's strong emphasis on infrastructure development in our country. We reiterate Aveng's commitment to using our considerable resources to assist wherever possible in giving effect to this bold programme.



Following the recent release of the Draft Construction Sector Broad-based Black Economic Empowerment Charter, Aveng has evaluated its position. I am pleased to report to shareholders that as a result of the 2004 empowerment transaction with the broadly-based consortium led by Tiso Group and our other internal empowerment initiatives; we are well placed to comply with the requirements of the proposed charter in the medium term.



The short term outlook for the group is in line with statements made in 2005 Annual Report. The strategy for 2006 remains focused on delivering on Aveng's three corporate objectives:

*Growth in headline earnings per share of CPIX + 10%

*Return on average equity of CPIX + 10%

*Net debt to equity ratio of 35%
18 Oct 2005 14:53:17
(Official Notice)
The annual report to shareholders provided details of a dispute between Moolman Mining, a division of Grinaker-LTA, and Aquarius Platinum South Africa regarding the application of the terms of the "rise and fall" price adjustment mechanism in the open-cast mining contract between Moolman Mining and Aquarius. In particular, it was reported that independent auditors had been appointed to conduct an audit of the costs incurred in relation to the contract and, based thereon, to calculate and determine the weightings of the cost elements.



The independent auditors have now finalised and issued their assurance report relating to the contract expenditure and the actual weightings of the cost elements in respect of the dispute. Based on these cost weightings, a revised claim of approximately R169.3 million (excluding VAT) has been submitted to Aquarius for the period May 2002 to September 2005. In addition, a claim has been submitted in respect of interest thereon for the corresponding period. Aveng and Aquarius continue to hold discussions to resolve this dispute, but may return to arbitration should these discussions fail.
13 Oct 2005 09:42:18
(Media Comment)
The construction industry has recently completed drawing up the final draft of its BEE charter. The charter calls for construction enterprises to ensure that 10% economic interest and voting rights are held by black women. The charter also stipulates that there should be 40% representation of black people at board and executive levels within seven years and that 20% of them should be women. Aveng CE, Carl Grim, told Financial Mail that " these targets will assist in creating growth in most companies. And growth will also make the pie much bigger".

15 Sep 2005 11:51:08
(Media Comment)
15 Sep 2005 11:50:08
(Media Comment)
Commenting on Aveng`s prospects, Business Day noted that factors such as low interest rates, government spending, high oil prices and Chinese demand would contribute to ideal conditions for the group. A construction analyst is of the opinion that McConnel Dowel, Aveng`s Australian subsidiary, will also see a rise in opportunities due to Chinese demand.

13 Sep 2005 17:13:02
(Media Comment)
Commenting on Aveng`s final results The Beeld noted that a more stable rand and favourable changes in market conditions within the building and construction industry were the main factors that contributed to Aveng`s steady results for the year ended June 2005.
13 Sep 2005 11:40:34
(Media Comment)
Commenting on Aveng`s final results Mark Ingham, an independent construction analyst, told The Citizen, `By the second half of the next financial year, legacy problems will be out of the way and we should see reasonable profit numbers from Grinaker. When the construction interests are operating at true potential, they should add 50cps to the bottom line in the next two years.`

13 Sep 2005 11:32:29
(Media Comment)
Although Aveng noted that the group`s previous financial period was the most difficult in its history Carl Grim, chief executive of Aveng, was glad with its turnaround in fortune. Grim told Business Day that the next few years would be vital to the industry`s growth citing government investment and low interest rates as key drivers.

13 Sep 2005 11:21:51
(Media Comment)
Business Day`s The Bottom Line noted that although Aveng`s final results were modest, the group did well at growing its revenue by 15% to recover from the 11.4% decline in the previous period.

13 Sep 2005 10:37:50
(Media Comment)
Commenting on the group`s final results Carl Grim, chief executive of Aveng, said that the directors were pleased with the group`s recovery programme. Grim stated, `With a return on average equity of 13.4%, the group is just short of its target to achieve a real return of 10% for shareholders. Most encouraging is the 10% decline in net debt and the associated reduction in the net debt-to-equity ratio to 40%, the lowest in five years and fast approaching the Aveng target of 35%.`



Grim also noted that the group would deliver on its three corporate objective for the current financial year being:

*growth in headline earnings of 10% or higher above inflation;

*a return on shareholder equity of 10% or higher above inflation; and

*A 35% net debt-to-equity ratio.



Imara SP Reid analyst, Steve Meintjes, told Business Report that the group`s performance was slightly higher than the consensus forecast and is of the opinion that Aveng would achieve or even outperform its targets in the current financial year.

12 Sep 2005 09:01:56
(C)
26 Aug 2005 11:44:21
(Media Comment)
Business Day noted on 26 August 05 that Aveng may report headline earnings of 87cps compared to the group`s previous actual financial year`s 57cps. The increase may be attributed to the improvement in the group`s steel and cement division.

04 Aug 2005 11:06:31
(Media Comment)
Commenting on the rapid growth experienced in the cement industry Dennis Gammie, financial director of Aveng, told Finance Week that volumes are currently at unbelievable levels. Although analysts forecast a 9%-10% volume growth in cement, Gammie is of the opinion that two issues could, however, dampen further growth. Firstly, a slowdown in the residential market and secondly, the industry`s capacity to supply cement.



28 Jul 2005 12:45:37
(Media Comment)
Commenting on losing the Gautrain bid Dennis Gammie, financial director of Aveng, told Financial Mail, `at least we do not have the risk of concentrating on one job for the next four years. We might have lost the bid, but Gautrain is good news for all of us in the construction industry.` Gammie`s view may be a partial reason that the group`s share price has gained 10% since losing the bid while Murray and Roberts, who has a 25% in the company that won the bid, has only gained 5%.

14 Jul 2005 09:38:16
(Media Comment)
In response to a report by Merrill Lynch stating that cement supply in Gauteng would tighten after the group closed one of its cement production ovens, Holcim stated that the move was unlikely to affect supply.
25 Jul 2003 12:05:42
(Official Notice)
The Shareholders of McConnell Dowell, an Australian based engineering and construction company, today approved the Scheme of Arrangement under which Aveng will acquire all of the shares in McConnell Dowell for AUD1.54 cash per share. The Option holders in McConnell Dowell also approved the Scheme of Arrangement for Aveng to purchase outstanding options at 20 cents (Australian) cash per option. Both schemes remain subject to approval of the Federal Court at a hearing set for 1 Aug 03.



In respect of the proposed dividend of 10 cents (Australian) per share, the dividend payment date shall be the same date as the payment date for the schemes if they are approved. If the schemes are approved by the Court on 1 Aug 03, the record date for determining dividend entitlements will be 8 Aug 03, with payment expected shortly after that date.





14-Oct-2014
(X)
Over 125 years Aveng has evolved in character, capability and reach. Its origins lie in modest construction projects but over the years, the group has developed expertise in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment in South Africa, the rest of Africa, Australasia and Asia. The Aveng group continues to make its mark in mega-projects across the globe.


Send e-mail to for any enquiries or see Contact Details for phone numbers
Home   •   Terms & conditions   •   PAIA   •   Privacy Policy   •   Security Notice   •   Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa
Best in 800x600 with IE6 or Mozilla Firefox