ENX CORPORATION LIMITED - BIEQS1- Notice to noteholders regarding an announcement released by enX Group Limited in relation to the Transaction

BIEQS1- Notice to noteholders regarding an announcement released by enX Group Limited in relation to the Transaction

enX Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1984/007045/06)
Company code: BIEQS1
(“enX” or “the Issuer”)


NOTICE TO NOTEHOLDERS REGARDING AN ANNOUNCEMENT RELEASED BY ENX GROUP LIMITED IN
RELATION TO THE DIVESTMENT OF EQSTRA FLEET MANAGEMENT AND LOGISTICS

Noteholders are referred to the announcement released by enX Group Limited, a guarantor to the
Issuer’s ZAR 4 000 000 000 Domestic Medium Term Note Programme (“Programme”), (“enX Group”)
on SENS on Tuesday, 5 May 2020, (“Announcement”) in relation to an update on the divestment of
the Eqstra Fleet Management and Logistics business to Bidvest Bank Limited (“Bidvest”) (the
“Transaction”).

The Announcement confirmed that the Transaction was terminated due to the final outstanding
condition precedent, being approval by the Prudential Authority established in terms of the Financial
Sector Regulation Act, 2017 as required in terms of section 52 of the Banks Act, not being fulfilled by
the long stop date of 4 May 2020. enX could not reach agreement with Bidvest to extend the long stop
date to allow sufficient time for the Prudential Authority to complete its process, which was well
advanced.

The Termination of the Transaction has no impact on the current position of Noteholders nor the
Programme. Please refer to the Announcement for further details regarding a business update and
funding and liquidity update of the enX Group.



21 May 2020

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 21-05-2020 11:20:00
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.