ADAPT IT HOLDINGS LIMITED - Volaris Offer: Further extension of the date by which a scheme condition must be fulfilled or waived

Volaris Offer: Further extension of the date by which a scheme condition must be fulfilled or waived

ADAPT IT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/017276/06)
Share code: ADI
ISIN: ZAE000113163
(“Adapt IT”)

VOLARIS GROUP INC
(Incorporated in Canada)
(Corporation number: 002277095)
(“Volaris”)


VOLARIS OFFER: FURTHER EXTENSION OF THE DATE BY WHICH A SCHEME CONDITION MUST BE FULFILLED OR WAIVED


1. Introduction

   1.1. Shareholders of Adapt IT (“Adapt IT Shareholders”) are referred to the various announcements
        released on SENS relating to the offer by Volaris to acquire control of Adapt IT through the
        acquisition of up to 100% of the issued ordinary shares (excluding treasury shares) of Adapt IT
        from Adapt IT Shareholders for a cash consideration of R7.00 per Adapt IT Share ("Volaris
        Offer").

   1.2. Capitalised terms used herein that are not otherwise defined, bear the meanings ascribed to them
        in the joint circular distributed to Adapt IT Shareholders relating to the Volaris Offer dated 1 June
        2021 ("Joint Circular").

2. Extension of the date for the fulfilment or waiver of a Scheme Condition
   Adapt IT Shareholders are referred to the announcement released on SENS on 27 July 2021, regarding
   the extended date for the fulfilment or waiver of the Scheme Condition referred to in paragraph 4.3.1.10
   of the Joint Circular, relating to the conclusion by the executive directors of Adapt IT of service contracts
   with the Adapt IT group (“Condition Precedent”), being 30 September 2021.


   Shareholders are hereby advised that the deadline for the fulfilment or waiver of the Condition
   Precedent has been further extended to 15 October 2021.


3. Adapt IT Board Responsibility Statement

   The Adapt IT Board accepts responsibility for the information contained in this announcement which
   relates to Adapt IT and confirms that, to the best of its knowledge and belief, the information contained
   in this announcement is true and nothing has been omitted which is likely to affect the importance of
   the information.

4. Volaris Board Responsibility Statement
   The board of directors of Volaris accepts responsibility for the information contained in this
   announcement which relates to Volaris and confirms that, to the best of its knowledge and belief, the
   information contained in this announcement is true and nothing has been omitted which is likely to
   affect the importance of the information.



Johannesburg
29 September 2021

Sponsor
Merchantec Capital

Financial Advisor
The Standard Bank of South Africa Limited

Legal Advisor
Webber Wentzel

Transaction Advisor to Volaris
PSG Capital

Legal Advisor to Volaris
Cliffe Dekker Hofmeyr

Date: 29-09-2021 04:36:00
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