AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Results of general meeting

Results of general meeting

African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or “the Company”)

RESULTS OF GENERAL MEETING

1.    Shareholders are referred to the Company’s SENS announcement dated
      15 November 2016, indicating that AEEI’s board of directors has
      approved a proposal to list its subsidiary, Premier Food and Fishing
      (“PFF”), on the JSE, subject to market conditions (“Listing”).

2.    Shareholders are also referred to the Company’s SENS announcement
      dated 22 December 2016, advising that, as a condition to the Listing
      and in order to provide PFF with additional capital to fund its
      further expansion, it is proposed that PFF will, on the date of the
      Listing, issue shares to eligible investors by way of a private
      placement (“Placement”). As indicated in that announcement and in
      AEEI’s circular of the same date to shareholders, the issue of such
      shares by PFF requires the approval of AEEI shareholders.

3.    In this regard, shareholders are advised that at the general meeting
      of the Company (“General Meeting”) held at 10:00 today, 24 January
      2017, at AEEI's head office, at Premier Fishing, Quay 7, Breakwater
      Boulevard, East Pier, Victoria & Alfred Waterfront, Cape Town, all of
      the resolutions proposed were passed by the requisite majority of
      AEEI shareholders.

4.    Details of the results of voting at the General Meeting are as
      follows:

     Resolutions    Votes for as        Votes against       Shares voted           Shares
     proposed at   percentage of        as percentage         at General     abstained as
     the General    total number             of total            Meeting    percentage of
       Meeting         of shares            number of        (number and     total issued
                       voted (%)         shares voted      percentage of    share capital
                                                  (%)       total issued              (%)
                                                          share capital)

Ordinary                  99.98%                0.02%        422 389 762            0.00%
Resolution                                                        shares
Number 1:
Authority to                                                    (85.97%)
implement the
Share Issue


Ordinary                    100%                0.00%        422 389 762            0.01%
Resolution                                                        shares
Number 2:                                                       (85.97%)
Authority of
Directors

5.   Following the approval of the above resolutions by AEEI shareholders,
     it is anticipated that PFF will, subject to market conditions and the
     approval of the JSE, be listed on the JSE main board during March
     2017, in conjunction with the Placement.

6.   A pre-listing statement will be issued by PFF in due course.

Cape Town
24 January 2017


Transaction advisor and sponsor
PSG CAPITAL

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