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Termination of negotiations between Powertech and Capitalworks
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
Share code: AEN ISIN: ZAE000191359
(“Altron” or “the Company”)
TERMINATION OF NEGOTIATIONS BETWEEN POWER TECHNOLOGIES PROPRIETARY
LIMITED (“POWERTECH”) AND CAPITALWORKS PRIVATE EQUITY ADVISOR
PROPRIETARY LIMITED (“CAPITALWORKS”) REGARDING THE DISPOSAL BY
POWERTECH OF ITS POWERTECH SYSTEM INTEGRATORS (“PTSI”) BUSINESS TO
CAPITALWORKS
Shareholders are referred to the announcement released by the Company on SENS on Monday,
30 November 2015 advising that Powertech, a subsidiary of Altron, had entered into a binding
written offer with Capitalworks, in terms whereby Powertech would dispose of its PTSI business
to Capitalworks on terms and conditions more fully set out in the Offer, including the fulfilment of
certain conditions precedent as summarised in the announcement (“the Disposal”).
Shareholders are advised that on Thursday, 17 December 2015, Powertech received notice
from Capitalworks that it no longer wished to proceed with the Disposal and accordingly the
negotiations between Powertech and Capitalworks have been terminated forthwith.
Johannesburg
18 December 2015
Investment Bank and Sponsor
Investec Bank Limited
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