enX GROUP LIMITED - Issuance Of A Guarantee By Enx And Notification In Terms Of Section 45(5) Of The Companies Act 71 Of 2008

Issuance Of A Guarantee By Enx 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”)


ISSUANCE OF A GUARANTEE BY ENX, AND NOTIFICATION IN TERMS OF SECTION 45(5) OF
THE COMPANIES ACT 71 OF 2008


Guarantee to ExxonMobil

enX acquired 37% of Zestcor Eleven Proprietary Limited (Registration No. 1998/004139/07) (“Zestcor”)
effective 1 June 2018. Zestcor is a distributor of ExxonMobil Petroleum and Chemical BVBA
(“ExxonMobil”) basestocks in South Africa. These products are used in the production of oil lubricants.
As part of the purchase agreement the enX Board has agreed to issue a guarantee to ExxonMobil for
trade credit terms provided by ExxonMobil to Zestcor from time to time for the supply of basestocks
(“ExxonMobil Guarantee”). The liability to ExxonMobil shall not exceed the aggregated sum of US
$1,5 million (US Dollar one million, five hundred thousand). South African Reserve Bank approval has
been received. The ExxonMobil Guarantee will be provided at a market related rate.


Section 45(5) Notice

Notice is hereby given that, in terms of the provisions of section 45(5) of the Companies Act, and
pursuant to the relevant special resolution passed at the AGM, the Board has adopted a resolution to
provide financial assistance in the form of an enX Indemnity and the ExxonMobil Guarantee, which both
constitute direct and/or indirect financial assistance in terms of the provisions of section 45 of the
Companies Act.

In accordance with section 45(3)(b) of the Companies Act, the enX Board 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.


Johannesburg
30 August 2018

Sponsor
The Standard Bank of South Africa Limited

Date: 30/08/2018 03:45:00 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.