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AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Group")
TRADING UPDATE ' STRATEGY UPDATE
STRATEGY UPDATE AND LEADERSHIP CHANGE
McConnell Dowell
The Board has thoroughly investigated a range of options for the separation of McConnell Dowell.
Following this extensive process, the Board has concluded that the best route to obtaining value for
shareholders at this juncture is for Aveng to retain its ownership of McConnell Dowell. McConnell Dowell
will continue its focus on improving operational performance. This includes improving profitability,
sustainably and winning quality new work.
McConnell Dowell has secured new work in excess of A$1.2 billion in the current financial year and has
been confirmed as the preferred bidder on a further A$1.2 billion of contracts to be awarded in future
periods.
Moolmans
Negotiations for a sale of the Moolmans business continue with the preferred party. This included
detailed due diligence on contracts and an extended period of negotiations.
The Board of Aveng ("Board") is pleased to announce the appointment of Pieter van Greunen as the
managing director of Moolmans with immediate effect. Pieter is a seasoned South African mining
executive with over 35 years experience. The Board would like to thank Rod Dixon, the outgoing
managing director for his contribution and wish him well in his future endeavors.
Half year results announcement
The Group expects to release its reviewed results for the six months ending 31 December 2025 on or
about 24 February 2026.
4 December 2025
Boksburg, South Africa
JSE Sponsor
Valeo Capital (Pty) Ltd
Edinah Mandizha
Company Secretary
Tel: 011 779 2800
Email: Edinah.mandizha@avenggroup.com
Forward looking statements
Certain statements in this document are not reported financial results or historical information but forward-looking statements. These include but
not limited to statements about the Group's operations, financial conditions, earnings, and growth prospects. They are based on the best estimates
and information of Aveng at the time of writing. They are nonetheless subject to significant uncertainties and contingencies, many of which are
beyond the control of the Group.
Unanticipated events may occur, and actual future events may differ materially from current expectations due to changes in priorities by the Group,
engagement with clients, suppliers, external auditors and other stakeholders.
Date: 05-12-2025 07:05:00
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