REDINK RENTAL (RF) LIMITED - Notice of Meeting - RED162

Notice of Meeting - RED162

REDINK RENTALS (RF) LIMITED
Notice of Meeting
(Incorporated in South Africa with limited liability under registration number
2015/090404/06)

(“Redink Rentals”)

Date: 25 May 2023

RED162 - ZAG000182023

ANNOUNCEMENT TO THE NOTICE OF A MEETING OF THE HOLDERS OF ALL CLASS A NOTES ISSUED
IN RELATION TO TRANSACTION NO. 16 – TOWER INVESTMENTS (SMART TREAD FINANCING
AGREEMENT) ("Transaction No. 16")

We refer to the notice delivered, in accordance with Condition 22.2.3 of the
Terms and Conditions of the Notes, by the Issuer on 24 May 2023 to the holders
of all the Class A Notes issued by the Issuer under the Programme in relation to
Transaction No. 16 (“the Noteholders”), for purposes of passing an Extraordinary
Resolution. The Extraordinary Resolution of the Noteholders is sought to amend
and restate the amended and restated Applicable Pricing Supplement issued by the
Issuer in relation to the Notes dated 30 November 2022 ("Applicable Pricing
Supplement”). ?


The Issuer wishes to draw noteholders attention to the following additional
information in respect of Section B of the notice as delivered:
   •   The Issuer has proposed an amendment to the Applicable Pricing Supplement,
       which was set out in the amended Applicable Pricing Supplement as attached
       to notice as Annexure A, to facilitate the recovery of the Sale Assets in
       relation to Transaction No. 16;
   •   The Issuer is in process of taking the necessary steps to recover the
       amounts due from the Sale Assets, in specific the Guarantee issued by
       Lombard Insurance Company Limited (the "Guarantor") in relation to
       Transaction No. 16;
   •   The Issuer instituted a motion proceeding against the Guarantor for payment
       of the sum as guaranteed, limited to R60 million;
   •   This motion proceeding was served on    the Guarantor on the 30th March 2023;
   •   The Issuer was advised    by its legal counsel that it is at this time
       difficult to estimate a   date for the court hearing, and consequently the
       timing of concluding on    the recovery of the Sale Assets in relation to
       Transaction No. 16 will   extend beyond the existing Final Redemption Date
       of the Class A Notes;
   •   Henceforth the Issuer     would   require   additional   time   to   finalise   the
       recovery process.


Capitalised terms and expressions used herein and not otherwise defined herein,
shall have the meanings ascribed to such terms and expressions in the programme
memorandum issued by the Issuer in relation to the Programme dated 29 May 2015
(the "Programme Memorandum").


Further information on the Programme please contact:
Redinc Capital
Charlize Wiederkehr
Tel: +27 10 822 7993
Email: charlize@red-inc.co.za




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Date: 25-05-2023 09:35:00
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