AFRICAN AND OVERSEAS ENTERPRISES LD - Update in respect of the mandatory and comparable offer to be made to the shareholders of African and Overseas

Update in respect of the mandatory and comparable offer to be made to the shareholders of African and Overseas

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO             ISIN: ZAE000000485
JSE share code: AON             ISIN: ZAE000009718
JSE share code: AOVP            ISIN: ZAE000000493
(“African and Overseas” or the “Company”)


UPDATE IN RESPECT OF THE MANDATORY AND COMPARABLE OFFER TO BE MADE TO
THE SHAREHOLDERS OF AFRICAN AND OVERSEAS


Shareholders are referred to the announcement released on SENS on Friday, 22 April 2016 wherein shareholders were advised,
inter alia, that an offer circular containing full details of the mandatory and comparable offer to be made to African and Overseas
shareholders by a consortium (“Consortium”) consisting of Geomer Investments (Pty) Ltd, The Ceejay Trust, Gingko Trading
(Pty) Ltd and Gingko Investments No. 2 (Pty) Ltd would be posted to African and Overseas shareholders on or about 17 May
2016 (the “offer circular”).

Shareholders are advised that due to unforeseen delays, the Consortium will not be able to post the offer circular to African and
Overseas shareholders within the stipulated time period. The Takeover Regulation Panel has granted an extension to the
Consortium in this regard and it is anticipated that the offer circular will be posted to African and Overseas shareholders by 1 June
2016. If feasible, the offeree response circular, incorporating the independent expert’s fair and reasonable opinion and the
independent board of African and Overseas’ opinion on such offer and the offer consideration will be incorporated within the offer
circular as a combined offer circular.

A further announcement will be released on SENS once the offer circular has been posted to African and Overseas shareholders.

18 May 2016


Corporate Advisor and Sponsor to the Company
Java Capital


Corporate Advisor to the Consortium
Investec Bank Limited
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