enX GROUP LIMITED - Results of general meeting

Results of general meeting

ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX”)


RESULTS OF GENERAL MEETING


Shareholders are referred to the announcement released on SENS on 11 July 2017, wherein shareholders were advised that enX
had posted a circular, together with a notice convening a general meeting, to shareholders relating to the restructure and
recapitalisation of eXtract Group Limited (“eXtract”) (the “restructure”) and the subsequent unbundling and distribution by enX
of 3 861 041 279 eXtract shares to enX shareholders in the ratio of 21.39799 eXtract shares for every one enX share held (the
“unbundling”).

Shareholders are advised that at the general meeting of enX shareholders, held on Thursday, 10 August 2017, all of the resolutions
tabled thereat were passed by the requisite majority of shareholders.

Details of the results of the general meeting are as follows:

    -    total number of enX shares that could have been voted at the general meeting: 180 439 427;
    -    total number of enX shares that were present/represented at the general meeting: 112 026 548 being 62% of the total
         number of enX shares that could have been voted at the general meeting.


Ordinary resolution number 1: Approval of the restructure, subscription and exchange

Shares voted*          For                                      Against                        Abstentions^
112 022 934            112 011 364, being 99.99%                11 570, being 0.01%            3 614, being 0.00%


Ordinary resolution number 2: Unbundling

Shares voted*          For                                      Against                        Abstentions^
112 022 934            112 011 364, being 99.99%                11 570, being 0.01%            3 614, being 0.00%

*        shares excluding abstentions
^        in relation to the total number of enX shares in issue

The restructure remains conditional upon:
-      the approval of the restructure by the South African Competition Authorities;
-      TRP approval;
-      the majority of lenders consenting in writing to the restructure;
-      the signature of an intra-day bridge loan agreement with a third-party bank to enable MCC Contracts Proprietary Limited
       (“MCC”) to voluntarily redeem the MCC preference shares in cash;
-      the agreements between eXtract, its lenders, MCC, enX and Eqstra Corporation Limited being amended to capture the
       terms of a repayment waterfall in respect of the cash to be received by eXtract and MCC from the disposal of excess assets;
       and
-      the South African Revenue Service furnishing a binding advanced tax ruling in respect of the tax effect and consequences
       of the restructure, which is not adverse to the parties to the restructure.

A finalisation announcement in respect of the restructure and unbundling will be released on SENS once all of the above
conditions precedent have been fulfilled or waived, as the case may be.

11 August 2017


Corporate advisor and sponsor
Java Capital

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