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Appointment Of SBSA As Joint Underwriter And Dealings In Shares By Associates Of Directors
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
A2X Share code: REN
ISIN: ZAE000202610
LEI: 378900B1512179F35A69
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
("Renergen" or "the Company")
Appointment Of SBSA As Joint Underwriter And Dealings In Shares By Associates Of
Directors
Renergen is pleased to announce that it has appointed The Standard Bank of South Africa
Limited as a Joint Underwriter in the IPO and has secured a short-term funding facility with
SBSA ("Loan") to provide the Company with funding leading into the Nasdaq IPO.
"Standard Bank is delighted to extend its long-standing support of the Renergen story into this
next critical phase of the project's development and looks forward to delivering a successful
capital raise and Nasdaq listing for the Company" said Richard Stout, Head of Equity Capital
Markets, South Africa and Sub-Saharan Africa.
In terms of the Loan conditions, shareholders are advised that CRT Investments Proprietary
Limited ("CRT") an associate of Mr Nicholas Mitchell, and MATC Investments Holdings
Proprietary Limited ("MATC") an associate of Mr Stefano Marani, have concluded cession and
pledge agreements ("Pledges"), in terms of which CRT and MATC have pledged and ceded
as security collectively 17 314 575 Renergen ordinary shares ("Pledged Shares"), to and in
favour of SBSA. CRT and MATC's potential liability under the security given in respect of such
financial obligation is capped at the lower of the value of the Pledged Shares or R155 million.
In accordance with the JSE Listings Requirements, the following information regarding the
dealing in shares is disclosed:
1.
NAME OF DIRECTOR Stefano Marani
COMPANY OF WHICH A DIRECTOR Renergen
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF TRANSACTION Pledge and cession of ordinary shares as
security for the Loan (Off-market
transaction)
DATE OF TRANSACTION 30 August 2024
NUMBER OF SECURITIES PLEDGED 8 714 306
DEEMED TOTAL RAND VALUE OF R103 438 812.22, but capped at MATC's
SECURITIES PLEDGED BASED ON THE portion of R155 million
CLOSING PRICE OF R11.87 ON 29
AUGUST 2024
TERM OF PLEDGE 12 months
NAME OF ASSOCIATE MATC Investments Holdings Proprietary
Limited
RELATIONSHIP WITH DIRECTOR Director is a director of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE TRANSACTION
2.
NAME OF DIRECTOR Nicolas Mitchell
COMPANY OF WHICH A DIRECTOR Renergen
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF TRANSACTION Pledge and cession of ordinary shares as
security for the Loan (Off-market
transaction)
DATE OF TRANSACTION 30 August 2024
NUMBER OF SECURITIES PLEDGED 8 600 269
DEEMED TOTAL RAND VALUE OF R102 085 193.03, but capped at CRT's
SECURITIES PLEDGED BASED ON THE portion of R155 million
CLOSING PRICE OF R11.87 ON 29
AUGUST 2024
TERM OF PLEDGE 12 months
NAME OF ASSOCIATE CRT Investments Proprietary Limited
RELATIONSHIP WITH DIRECTOR Director is a director of the associate
NATURE AND EXTENT OF INTEREST IN Indirect, beneficial
THE TRANSACTION
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Listings
Requirements.
Due to Eskom scheduling their contractual maintenance on our power infrastructure in the
first week of September 2024, we have aligned our annual maintenance program at the
Virginia Gas Plant to coincide, minimizing our downtime. During the period, we will retain
helium in our tanks, to optimize the cool-down to reduce time required when restarting the
plant. During the maintenance shutdown, we will focus on connecting some additional wells,
which will increase the gas supply to the plant resulting in a further increased production
profile post the maintenance period.
"The financial security offered by Stef and Nick shows the clear level of commitment and
certainty that management have over the project and their complete alignment with our
valued shareholders as we prepare for the next chapter in Renergen's exciting journey. We
also welcome Standard Bank as a key figure in the IPO process, bringing an elegant mix with
deep knowledge on South Africa and the energy landscape in the region, which will be a
powerful addition to the marketing team to foreign investors less familiar with the region and
its prospects," said Chairman Dr David King.
2 September 2024
Designated Advisor
PSG Capital
www.renergen.co.za
For all media relations please contact:
investorrelations@renergen.co.za
For all US investors and media relations please contact:
Georg Venturatos / Patrick Hall – Gateway Group, (949) 574-3860
Ren@gateway-grp.com
Date: 02-09-2024 08:30:00
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