ETION LIMITED - Finalisation announcement in respect of the scheme of arrangement and delisting

Finalisation announcement in respect of the scheme of arrangement and delisting

ETION LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1987/001222/06)
(Share Code: ETO)
(ISIN: ZAE000257739)
(“Etion” or “the Company”)

FINALISATION ANNOUNCEMENT IN RESPECT OF THE SCHEME OF ARRANGEMENT
AND DELISTING

All capitalised terms used but not defined in this announcement shall bear the meanings
ascribed to them in the Circular (as defined below).

INTRODUCTION AND FULFILMENT OF SCHEME CONDITIONS

Shareholders of Etion (“Shareholders”) are referred to the Circular distributed to
Shareholders on Friday, 2 December 2022 (“Circular”), regarding a scheme of arrangement
in terms of section 114 of the Companies Act, between Etion and the Exiting Shareholders
(“Scheme”), and the subsequent Delisting of the Etion Shares from the AltX Board of the JSE
following the implementation of the Scheme.

Shareholders are advised that all the remaining Scheme Conditions have now been fulfilled
and/or waived, as applicable. Accordingly, the Scheme has become unconditional with effect
from Wednesday, 18 January 2023, and will be implemented on Monday, 6 February 2023.

SALIENT DATES AND TIMES

The salient dates and times in relation to the implementation of the Scheme remain as set out
in the Circular. The relevant dates and times are repeated below for ease of reference:

                                                                                      2023
 Finalisation announcement expected to be published on SENS          Wednesday, 18 January
 Scheme Last Day to Trade expected to be on                            Tuesday, 31 January
 Trading in Scheme Shares on the JSE expected to be                  Wednesday, 1 February
 suspended from commencement of trade on or about
 Scheme Consideration Record Date to be recorded in the                 Friday, 3 February
 Register in order to receive the Scheme Consideration
 expected to be on
 Scheme Implementation Date expected to be on                           Monday, 6 February
 Scheme Consideration payment to Dematerialised                         Monday, 6 February
 Shareholders expected to take place on
 Scheme Consideration payment to Certificated Shareholders              Monday, 6 February
 (assuming timely surrender of Documents of Title and duly
 completed Forms of Surrender) expected to be on
 Termination of listing of Scheme Shares on the JSE expected           Tuesday, 7 February
 to be at commencement of trade on or about

Notes:

1.   The above dates and times are subject to amendment at the discretion of Etion, with the
     approval (where required) of the Takeover Panel and the JSE. Any such amendment will
     be released on SENS.
2.   Shareholders should note that as transactions in Shares are settled in the electronic
     settlement system used by Strate, settlement of trades take place three South African
     Business Days after such trade.
3.   All dates and times indicated above are South African Standard Time.

RESPONSIBILITY STATEMENT

The Independent Board individually and collectively accepts full responsibility for the accuracy
of the information contained in this announcement. In addition, the Independent Board certifies
that to the best of its knowledge and belief, the information contained in this announcement
solely pertaining to the Company is true and, where appropriate, does not omit anything that
is likely to affect the importance of the information contained herein, and that all reasonable
enquiries to ascertain such information have been made.

The Board individually and collectively accepts full responsibility for the accuracy of the
information contained in this announcement. In addition, the Board certifies that to the best of
its knowledge and belief, the information contained in this announcement solely pertaining to
the Company is true and, where appropriate, does not omit anything that is likely to affect the
importance of the information contained herein, and that all reasonable enquiries to ascertain
such information have been made.

18 January 2023

Transaction Adviser and Designated Advisor

PSG Capital

Date: 18-01-2023 10:24:00
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