AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Renewal Of Cautionary Announcement Bt Call Option

Renewal Of Cautionary Announcement – Bt Call Option

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or "the Company")


RENEWAL OF CAUTIONARY ANNOUNCEMENT – BT CALL OPTION

Shareholders are referred to the cautionary announcement dated
4 June 2021 (“Cautionary Announcement”) and to the subsequent renewals
thereof, the last of which was dated 29 March 2023, regarding a
determination on whether the British Telecoms Communications Services
South Africa Proprietary Limited (“BTSA”) Call Option (“BT Call
Option”) was validly exercised. AEEI had informed BTSA that the call
option is not capable of being exercised.

AEEI and BTSA are dealing with the BT Call Option dispute in accordance
with the provisions of the Shareholders Agreement referred to in the
Cautionary Announcement. The International Court of Arbitration has
set down the matter for hearing from 10 July 2023 to 21 July 2023.

Shareholders are therefore advised to continue to exercise caution
when dealing in the Company’s securities until further announcements
in respect of the BTCall Option are made.


Cape Town
16 May 2023

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Date: 16-05-2023 04:30:00
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