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Implementation of Bitcoin treasury strategy, proposed change of name and circular to shareholders
ALTVEST CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2021/540736/06)
LEI Number: 37898OOE85B7YW5EEW57
Ordinary Share Code: ALV ISIN: ZAE000337051
Preferred A Ordinary Share Code: ALVA ISIN: ZAE000338422
Preferred B Ordinary Share Code: ALVB ISIN: ZAE000338430
Preferred C Ordinary Share Code: ALVC ISIN: ZAE000338448
("Altvest" or "the Company")
IMPLEMENTATION OF BITCOIN TREASURY STRATEGY, PROPOSED CHANGE OF NAME AND CIRCULAR
TO SHAREHOLDERS
1. INTRODUCTION
Shareholders are referred to the announcement published on SENS on 21 February 2025 where it was announced
that Altvest had acquired 1.00464 Bitcoin ("BTC") as part of its long-term treasury management strategy. It was
further stated that the Company would continue to monitor its Bitcoin holdings in light of market conditions and
regulatory developments and that Shareholders will be kept informed of any material developments relating to this
strategic treasury allocation.
2. ADOPTION OF A BITCOIN TREASURY STRATEGY
Building on its initial BTC acquisition, the board of directors of Altvest ("the Board") is pleased to announce the
formal adoption of its Bitcoin Treasury Strategy, in terms of which the Company will accumulate and hold BTC to
preserve value, hedge against inflation and increase long-term shareholder exposure to BTC's potential upside.
The Board is of the view that this strategic shift, which will position Altvest as Africa's first Bitcoin Treasury company,
will offer its Shareholders long-term value anchored in a resilient and globally liquid asset.
The Board is also of the view that its Bitcoin Treasury Strategy is aligned with the Company's core mandate of
democratising access to alternative investment opportunities. The Company's existing income-generating
operations and legacy investments, i.e. including its activities associated with the provision of asset management
and other services to Altvest Credit Opportunities Fund, Umganu Lodge and Bambanani, will continue
uninterrupted. This structure ensures that shareholders will benefit both from the upside of Altvest's Bitcoin Treasury
Strategy as well as the stable earnings profile of its established operations.
Shareholders are advised that the JSE does not at this time have any regulatory framework in place to regulate
issuers investing in crypto assets. Once such regulatory framework has been put in place by the JSE, the Company
undertakes to adhere thereto.
Altvest will embark on various capital raising initiatives over the coming months in order to raise funds to acquire
BTC. Further details of these capital raising initiatives will be announced at the appropriate times in accordance
with the Listings Requirement of the JSE Limited.
3. PROPOSED CHANGE IN NAME AND DISTRIBUTION OF CIRCULAR
The Board has resolved to propose a change of the Company's name from Altvest Capital Limited to The Africa
Bitcoin Corporation Limited, subject to shareholder approval by written consent in terms of section 60 of the
Companies Act 2008 and registration with the Companies and Intellectual Property Commission ("CIPC") ("the
Proposed Name Change"). Ordinary shareholders are entitled to exercise their voting rights in relation to the
resolution within 20 business days after the resolution has been dispatched to them.
The Proposed Name Change reflects the Company's strategic repositioning and broader operational focus and is
intended to align its corporate identity and brand with the adoption of its Bitcoin Treasury Strategy as described
above.
A circular containing full details of the Proposed Name Change, together with the written resolution to give effect
thereto ("the Resolution") as well as a form of written consent ("the Circular") has been distributed to Shareholders
today and made available on the Company's website at https://altvestcapital.co.za/investment-opportunities/africa-
bitcoin-corporation/
4. SALIENT DATES AND TIMES
The salient dates and times in relation to the Proposed Name Change are as follows:
2025
Record date to determine which Shareholders are eligible to receive Friday, 29 August
this Circular and vote on the proposed Resolution
Circular distributed to Shareholders and announcement published on Monday, 8 September
SENS on
Deemed date of delivery (7 calendar days from distribution of the Monday, 15 September
Circular)
Voting period opens Tuesday, 16 September
Last day for voting (20 business days from voting period opening) Tuesday, 14 October
Results of voting released on SENS Wednesday, 15 October
Change of Name resolution lodged with CIPC for registration on or Wednesday, 15 October
about
Change of Name resolution approved by CIPC on or about Wednesday, 29 October
Expected Change of Name finalisation announcement released on Tuesday, 4 November
SENS (by 11:00)
Expected Last day to trade prior to Change of Name on Tuesday, 11 November
Expected termination date for trading under the name "Altvest Capital Wednesday, 12
Limited" and commencement of trade under the new name "Africa November
Bitcoin Corporation Limited" and under the following share information:
• Ordinary shares: JSE share code "BAC" abbreviated name
"AFBITCOIN", ISIN ZAE000337051;
• Preferred A ordinary shares: JSE share code "BACA"
abbreviated name "AFBTCOINA", ISIN ZAE000338422
• Preferred B ordinary shares: JSE share code "BACB"
abbreviated name "AFBTCOINB", ISIN ZAE000338430
• Preferred C ordinary shares: JSE share code "BACC"
abbreviated name "AFBTCOINC", ISIN ZAE000338448
With effect from the commencement of trade on
Expected record date for Change of Name Friday, 14 November
Expected date that accounts of Dematerialised Shareholders with their Monday, 17 November
CSDPs or Brokers will be updated with the new name
Notes:
All of the above dates and times are subject to change. Any changes made will be notified to Shareholders
by release on SENS.
All times are local times in South Africa.
No dematerialisation or rematerialisation of Altvest Shares may take place after Wednesday, 12 November
2025.
Shareholders are reminded that shares in companies listed on the JSE can no longer be bought or sold on
the JSE unless they have been dematerialised onto the State system. It is therefore suggested that
Certificated Shareholders should consider dematerialising their Shares and replacing them with electronic
records of ownership. Therefore, Certificated Shareholders who have not yet appointed a CSDP or Broker
will have their new Africa Bitcoin Corporation Limited shares credited to CTSE Registry pending receipt of
such information by the Transfer Secretaries, together with their Documents of Title.
For the avoidance of doubt, the Company will retain all ISINs and statistical, trading and reference data
history for each of its existing classes of shares. The Change of Name will not result in a transfer of sector
for the Company.
Johannesburg
8 September 2025
Designated Advisor
Questco Corporate Advisory
Date: 08-09-2025 09:00:00
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