CONSOLIDATED INFRASTRUCTURE GROUP LIMITED - Cautionary announcement and changes to the board of directors

Cautionary announcement and changes to the board of directors

CONSOLIDATED INFRASTRUCTURE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
JSE share code: CIL ISIN: ZAE000153888
(“CIG” or the “Group”)


CAUTIONARY ANNOUNCEMENT AND CHANGES TO THE BOARD OF DIRECTORS


Shareholders are referred to previous announcements detailing CIG’s debt restructure programme, the
last of which was published on 14 August 2020, wherein shareholders were advised of the ongoing
negotiations in respect of concessions to the terms of agreement of the debt restructure in respect of
Consolidated Power Projects Proprietary Limited (“CONCO”) and CIG. Given the ongoing discussions
and continued uncertainty on the settlement of the debt restructure negotiations and, as previously
advised, the impact thereof on the Group’s sustainability, shareholders are advised to exercise caution
when trading in CIG shares.

Shareholders are advised that on Friday, 23 October 2020 the Company received resignation letters
from Michael Wilkerson, non-executive director and chairman of the board, Quinn McLean, non-
executive director and Ahmad Mazhar, non-executive director, being nominated directors of CIG’s
largest shareholder (and holder of R300 million convertible debt in CIG), Fairfax Africa Investments
Proprietary Limited.

A further announcement on the reconstitution of the board of directors will be made in due course. CIG
remains compliant with the Companies Act and its memorandum of incorporation with three
independent non-executive directors, one non-executive director and two executive directors on the
Board.

26 October 2020


Sponsor
Java Capital

Date: 26-10-2020 09:55:00
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