AEP ENERGY AFRICA LIMITED - Results of the General Meeting, Finalisation Information and Cautionary Announcement

Results of the General Meeting, Finalisation Information and Cautionary Announcement

AEP Energy Africa Limited
Incorporated in the Republic of South Africa
(Registration number: 2017/024904/06)
JSE share code: AEY
ISIN: ZAE000241741
(“AEP” or “the Company”)

RESULTS OF THE GENERAL MEETING, FINALISATION INFORMATION AND CAUTIONARY
ANNOUNCEMENT

1. Results of General Meeting

Shareholders are referred to the announcement published on SENS on 19 February 2020 and the
circular distributed to them on the same day (“the Circular”), relating to the voluntary winding up of the
Company. Using the terms defined in the Circular, shareholders are advised that, at the General
Meeting held today, 19 March 2020, the resolution to approve the Voluntary Winding Up was not passed
by the requisite majority of shareholders.
The total number of ordinary shares in issue is 5 255 680 shares of which 5 180 200 shares were voted
at the General Meeting, representing 98.56%. There were no abstentions.

Resolutions                                         Shares voted                     Votes            Votes
                                                                                     For              Against
                                                    Number            % (1)          % (2)            % (2)
Special resolution number 1:                        5 180 200         98.56          49.71            50.29
Approval of the Voluntary Winding Up
and authority to Directors

Notes:
1.   As a percentage of total ordinary shares in issue.
2.   As a percentage of shares voted.

2. Finalisation information in respect of the Delisting

Shareholders are further advised that, notwithstanding the fact that the resolution to approve the
Voluntary Winding Up has failed, the Company will proceed to be delisted from the JSE in accordance
with the timetable set out below, and continue to operate in the unlisted environment.

                                                                                                     2020
Last day to trade                                                                       Tuesday, 31 March
Record Date for the Delisting                                                             Friday, 3 April
Brokers to close positions and reopen in unlisted form                                    Monday, 6 April
Delisting of AEP from the JSE                                                            Tuesday, 7 April

Note: The shares of AEP are currently suspended.

3. Distribution of surplus cash reserves and cautionary announcement

The immediate objective of the Board of Directors (“the Board”) is to determine the optimal mechanism
for the timeous distribution of AEP’s remaining surplus cash reserves to Shareholders. Shareholders
will be advised on SENS as to the selected mechanism to achieve this and the quantum and timing of
such distribution as soon as possible but by not later the date of the termination of AEP’s listing on the
JSE.

Accordingly, Shareholders are advised to exercise caution when dealing in their AEP Shares.

Johannesburg
20 March 2020

Designated Advisor
Questco Corporate Advisory Proprietary Limited

Date: 20-03-2020 09:30:00
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