AFRICAN BANK INVESTMENTS LIMITED - Disposal of Stangen - Lapse of Share Purchase Agreement

Disposal of Stangen - Lapse of Share Purchase Agreement

AFRICAN BANK INVESTMENTS LIMITED 
(in business rescue)
Incorporated in the Republic of South Africa
(Registration number: 1946/021193/06)
Ordinary share code: ABL   ISIN: ZAE000030060
Preference share code: ABLP   ISIN: ZAE000065215
(“ABIL” or “the Company”)

DISPOSAL OF STANGEN – LAPSE OF SHARE PURCHASE AGREEMENT

Shareholders are referred to the announcement released on SENS on 9 September 2015 wherein
shareholders were advised that the Company had entered into an agreement (“the Share Purchase
Agreement”) with its wholly-owned subsidiaries, African Bank Limited (“ABL”) and The Standard General
Insurance Company Limited (“Stangen”), in terms of which ABIL would dispose of the entire issued share
capital of Stangen to ABL, subject to the fulfilment of certain conditions precedent.
Shareholders are hereby advised that the Share Purchase Agreement has now lapsed due to the non-
fulfillment of certain conditions precedent.

By order of Messrs Dawie van der Merwe and John Evans as joint business rescue practitioners and the
board.

Midrand
15 October 2015
Sponsor
Merchantec Capital

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