AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Proposed Transaction: Update on the date of distribution of the circular

Proposed Transaction: Update on the date of distribution of the circular

PREMIER FISHING AND BRANDS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1998/018598/06)

JSE share code: PFB

ISIN: ZAE000247516

("PFB")

and

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1996/006093/06)

JSE share code: AEE

ISIN: ZAE000195731

("AEEI" or the “Offeror”)



       PROPOSED TRANSACTION: UPDATE ON THE DATE OF DISTRIBUTION OF THE CIRCULAR



1. INTRODUCTION
      Shareholders are referred to the joint firm intention announcement and withdrawal of cautionary
      announcements released by AEEI and PFB on SENS on Friday, 9 December 2022 (“Firm Intention
      Announcement”) (and using the terms defined therein unless otherwise stated) relating to the offer from
      AEEI to acquire 6.14% of the issued ordinary share capital of PFB (“Offer”), from PFB Minority
      Shareholders, at a cash consideration of R1.60 per Scheme Share (“Scheme Consideration”) by way
      of a scheme of arrangement (as contemplated in paragraph 2.1 of the Firm Intention Announcement)
      (“Scheme”), and the subsequent delisting of PFB from the securities exchange operated by the JSE (the
      Scheme and the delisting are collectively referred to as the “Proposed Transaction”).

2. UPDATE ON THE DATE OF DISTRIBUTION OF THE CIRCULAR
      Shareholders are advised that as the Offeror is currently engaging with the JSE as to whether the Offer
      amounts to a related party transaction for AEEI, the joint circular to PFB Shareholders (“Circular”) was
      not distributed on Monday, 9 January 2023 as indicated in the Firm Intention Announcement. AEEI and
      PFB will be approaching the TRP for an extension of the date on which the Circular will be distributed.
      A further announcement setting out details of, inter alia, the salient dates and times pertaining to the
      Scheme, including the date of distribution of the Circular, will be published in due course.
3. INDEPENDENT BOARD AND PFB BOARD RESPONSIBILITY STATEMENT
   The Independent Board and the PFB Board accept responsibility for the information contained in this
   announcement insofar as it relates to details in respect of PFB and the Offer. To the best of their
   knowledge and belief, the information contained in this announcement is true and this announcement
   does not omit anything likely to affect the importance of the information.

4. OFFEROR RESPONSIBILITY STATEMENT
   The Offeror accepts responsibility for the information contained in this announcement insofar as it relates
   to detail around the Offeror and the Offer. To the best of its knowledge and belief, the information
   contained in this announcement is true and this announcement does not omit anything likely to affect the
   importance of the information.

 CAPE TOWN
 13 January 2023



 LEGAL ADVISER TO AEEI




 Clyde & Co Inc.


 JOINT SPONSORS TO AEEI




 Vunani Capital Sponsors




 Merchantec Capital



 LEGAL ADVISER TO PFB




 Smith Tabata Buchanan Boyes Inc.

 SPONSOR TO PFB




 Vunani Capital Sponsors

Date: 13-01-2023 05:49:00
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