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Notification of the Capitalisation of Interest
AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
(“Aveng” or “the Issuer”)
NOTIFICATION OF THE CAPITALISATION OF INTEREST
Bondholders are referred to the SENS released today, confirming the voting results from the
Bondholders Meeting held on 3 July 2018 in which Bondholders approved the amendments to the
Terms and Conditions of the Issuer's ZAR 2,000,000,000.00, 7.25% senior unsecured convertible
registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds").
Bondholders are specifically advised that Condition 8.1 (b) relating to Interest on Bonds has been
amended with immediate effect. The result of this amendment is that interest due in respect of each
Interest Period is payable in arrears on the Interest Payment Date in respect of such Interest Period,
either in cash or by capitalising same, in which event the Principal Amount of each Bond will be
deemed to have been increased accordingly.
The Issuer will calculate the Interest Amount payable in respect of each Bond for each Interest Period.
The Interest Amount for half yearly interest payments shall be calculated by multiplying the Interest
Rate by the Principal Amount of the Bond and then dividing such product by two with the resultant
sum being rounded to the nearest cent and consequently half a cent being rounded upwards. Should
interest be required to be calculated for a period of other than six months, in the case of semi-annual
interest payments, such interest shall be calculated on the basis of a 365 day year and the actual
number of days elapsed in such period.
Accordingly, for the current interest period, the Issuer confirms that the interest will be capitalised in
accordance with the amended terms and conditions.
3 July 2018
Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)
Legal advisors
Baker McKenzie
Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division
Aveng
Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com
Date: 03/07/2018 01:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
