enX GROUP LIMITED - New term loan and notification in terms of section 45(5) of the Companies Act 71 of 2008

New term loan and notification in terms of section 45(5) of the Companies Act 71 of 2008

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


NEW TERM LOAN AND NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008


New Term Loan

enX Corporation Limited (“enX Corporation”), a wholly-owned subsidiary of the Company and borrower
for the debt raised to finance enX’s leasing businesses, has secured a new 3-year bullet term loan for an
aggregate principal amount of R200 million (“R200 million Term Loan”) in line with price guidance. The
loan was concluded under enX Corporation’s existing common terms agreement.

The proceeds of the R200 million Term Loan will be utilised to finance leased assets on contract renewal,
grow its fleet business and contribute towards the refinancing of maturing debt. Accordingly, overall debt
levels are expected to remain in line with those reported at the financial year ended 31 August 2017.

The finalisation of the R200 million Term Loan in combination with the issuance of a new R70 million 5-year
bond in July and September 2017 is indicative of enX’s renewed ability to access funding from the banking
and debt capital markets.

The R200 million Term Loan together with enX Corporation’s existing R300 million undrawn note specific
liquidity facility, undrawn general banking facility of R400 million, anticipated recoveries from eXtract Group
Limited and cash balances ensures substantial liquidity to address the R612 million maturing debt between
April 2018 and October 2018 under its Domestic Medium-Term Note Programme (“April Maturities”).

Further debt capital market activity is planned ahead of the April Maturities to progress the Company’s
funding goals.

Section 45(5) Notice

Notice is hereby given that, in terms of the provisions of section 45(5) of the Companies Act 71 of 2008 (the
“Companies Act”), and pursuant to the special resolution passed at the annual general meeting of the
Company held on Wednesday, 29 March 2017, the board of directors of the Company (the “board”) has
adopted a resolution to provide financial assistance to enX Corporation by the issuance of a guarantee by the
Company in respect of the R200 million Term Loan, which constitutes direct and/or indirect financial
assistance in terms of the provisions of section 45(5) of the Companies Act.

In accordance with section 45(3)(b) of the Companies Act, the board of directors of the Company is satisfied
and acknowledges, in respect of the financial assistance granted that:

-   the Company will satisfy the solvency and liquidity test as set out in section 4 of the Companies Act
    immediately after providing the financial assistance; and

-   the terms under which the financial assistance is to be given are fair and reasonable to enX.

7 December 2017


Sponsor
Java Capital

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