Sharenet Sites 
Sharenet Sites
CPV01-Results of the Proposed Written Resolutions
CPV POWER PLANT NO 1 BOND SPV (RF) LIMITED
("the Issuer" or "the Company")
(Registration Number: 2012 /176922/06)
Instrument Code: CPV01 ISIN: ZAG000104894
ANNOUNCEMENT ON RESULTS OF THE PROPOSED WRITTEN RESOLUTIONS OF ALL THE
BONDHOLDERS OF THE ISSUER
1. We refer to the meetings held on 15 May 2019 and 7 June 2019 and the notice delivered
by the Issuer on 5 June 2019 to each of the bondholders for purposes of passing the
Resolutions referred to below.
2. RESOLUTION NO 6/2019
Bondholders consented to a reorganization of the Issuer’s security resulting from the
corporate restructuring of one of CPV1’s shareholders.
In this regard, the Issuer confirms the results of Resolution No 6/2019 in relation to the
total nominal amount of all the Bonds as follows -
Bonds voted in Notes voted in Votes Votes carried Votes against
person or by person or by abstained as a for resolution resolution as a
proxy disclosed proxy disclosed percentage as a percentage
as a number as a percentage
percentage
703,741,709.61 82.17% 0.00% 82.17% 0.00%
Resolution No 6/2019 passed by a majority of 82.17%.
3. RESOLUTION NO 7/2019
Bondholders consented to the termination of the existing O&M Agreement to which CPV
Power Plant No. 1 (RF) Proprietary Limited (“CPV1”) is a party.
In this regard, the Issuer confirms the results of Resolution No 7/2019 in relation to the
total nominal amount of all the Bonds as follows -
Bonds voted in Notes voted in Votes Votes carried Votes against
person or by person or by abstained as a for resolution resolution as a
proxy disclosed proxy disclosed percentage as a percentage
as a number as a percentage
percentage
703,741,709.61 82.17% 0.00% 82.17% 0.00%
Resolution No 7/2019 passed by a majority of 82.17%.
4. RESOLUTION NO 8/2019
1
Bondholders consented to the execution by CPV1 of a new Operations and Maintenance
agreement on terms substantially agreed with a preferred respondent to a request for
proposals put out by CPV1.
In this regard, the Issuer confirms the results of Resolution No 8/2019 in relation to the
total nominal amount of all the Bonds as follows -
Bonds voted in Notes voted in Votes Votes carried Votes against
person or by person or by abstained as a for resolution resolution as a
proxy disclosed proxy disclosed percentage as a percentage
as a number as a percentage
percentage
703,741,709.61 82.17% 0.00% 82.17% 0.00%
Resolution No 8/2019 passed by a majority of 82.17%.
5. RESOLUTION NO 9/2019
Bondholders consented to a sale in shares in CPV1 by its shareholder Concentrix, and
release of Concentrix from any related obligations to the Issuer, and to a change in
control of CPV1 resulting from this sale of shares.
In this regard, the Issuer confirms the results of Resolution No 9/2019 in relation to the
total nominal amount of all the Bonds as follows -
Bonds voted in Notes voted in Votes Votes carried Votes against
person or by person or by abstained as a for resolution resolution as a
proxy disclosed proxy disclosed percentage as a percentage
as a number as a percentage
percentage
703,741,709.61 82.17% 0.00% 82.17% 0.00%
Resolution No 9/2019 passed by a majority of 82.17%.
6. RESOLUTION NO 10/2019
Bondholders consented to the refinancing of one of CPV1’s shareholders’ equity
contribution to CPV1 and the related transfer of shares and loan claims against CPV1
within such shareholder’s group of companies, as well as the reorganization of the
Issuer’s security resulting from the refinancing.
In this regard, the Issuer confirms the results of Resolution No 10/2019 in relation to the
total nominal amount of all the Bonds as follows -
Bonds voted in Notes voted in Votes Votes carried Votes against
person or by person or by abstained as a for resolution resolution as a
proxy disclosed proxy disclosed percentage as a percentage
as a number as a percentage
percentage
703,741,709.61 82.17% 0.00% 82.17% 0.00%
2
Resolution No 10/2019 passed by a majority of 82.17%.
14 June 2019
Debt Sponsor
The Standard Bank of South Africa Limited
3
Date: 14/06/2019 03:21:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
