AFRICAN AND OVERSEAS ENTERPRISES LD - Acquisition of shares by a consortium and dealings in securities by directors and associates of directors

Acquisition of shares by a consortium and dealings in securities by directors and associates of directors

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO  ISIN: ZAE000000485
JSE share code: AON  ISIN: ZAE000009718
JSE share code: AOVP ISIN: ZAE000000493
(“AOE”or “the company”)


ACQUISITION OF SHARES BY A CONSORTIUM AND DEALINGS IN SECURITIES BY DIRECTORS AND ASSOCIATES OF DIRECTORS


The company has been informed that a sale of shares agreement has been concluded between a consortium (the
“Consortium”) consisting of Geomer Investments (Pty) Ltd (“Geomer Investments”) and Gingko Investments No.
2 (Pty) Ltd (“Gingko Investments”) (acting in concert with the Ceejay Trust (“Ceejay Trust”) and Gingko Trading
(Pty) Ltd (“Gingko Trading”)) as purchaser and the Stewart and Pat Shub Family Trust (the “Shub Family Trust”),
Catherine Radowsky, Andrew Shub and Patricia Shub as sellers, in terms of which the Consortium will acquire
726 600 AOE ordinary shares, 604 045 AOE “N” ordinary shares, 1 241 Rex Trueform Clothing Company Limited
(“Rex Trueform”) ordinary shares and 4 058 Rex Trueform “N” ordinary shares for an aggregate consideration of
R64 999 547.94 (“the transaction”).

The company has been informed that the transaction remains subject to the fulfilment of certain conditions precedent
including securing, to the extent required, the approval of the South African competition authorities. A further
announcement will be released on SENS once the company has been informed that the conditions precedent to the
transaction have been fulfilled.

Shareholders are informed of the following dealings by directors of the company and associates of directors of the
company pursuant to the transaction.

Transaction date:                                   27 June 2017
Price per AOE ordinary share:                       R80.13
Price per AOE “N” ordinary share:                   R11.12
Clearance to deal obtained, where applicable:       Yes

Name of associate:                                  Shub Family Trust
Name of director and relationship to director:      Catherine Radowsky is a beneficiary of the Shub Family Trust
Type of security:                                   Ordinary share
Number of securities:                               718 000
Total value of transaction:                         R57 533 340.00
Nature of transaction:                              Off-market disposal of shares
Nature and extent of directors’ interest:           Indirect beneficial

Name of associate:                                  Shub Family Trust
Name of director and relationship to director:      Catherine Radowsky is a beneficiary of the Shub Family Trust
Type of security:                                   “N” ordinary share
Number of securities:                               576 101
Total value of transaction:                         R6 406 243.12
Nature of transaction:                              Off-market disposal of shares
Nature and extent of directors’ interest:           Indirect beneficial

Name of director:                                   Catherine Radowsky
Type of security:                                   “N” ordinary share
Number of securities:                               263
Total value of transaction:                         R2 924.56
Nature of transaction:                              Off-market disposal of shares
Nature and extent of director’s interest:           Direct beneficial

Name of associate:                                  Geomer Investments in concert with the Ceejay Trust, Gingko
                                                    Trading and Gingko Investments
Name of director and relationship to director:      Marcel Golding is a director and majority shareholder of
                                                    Geomer Investments
Type of security:                                   Ordinary share
Number of securities:                               726 600
Total value of transaction:                         R58 222 458.00
Nature of transaction:                              Off-market acquisition of shares
Nature and extent of director’s interest:           Indirect beneficial

Name of associate:                                  Geomer Investments in concert with the Ceejay Trust, Gingko
                                                    Trading and Gingko Investments
Name of director and relationship to director:      Marcel Golding is a director and majority shareholder of
                                                    Geomer Investments
Type of security:                                   “N” ordinary share
Number of securities:                               604 045
Total value of transaction:                         R6 716 980.40
Nature of transaction:                              Off-market acquisition of shares
Nature and extent of director’s interest:           Indirect beneficial

29 June 2017


Sponsor
Java Capital

Date: 29/06/2017 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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