AVI LIMITED - Sale Of 588 619 AVI Limited Ordinary Shares (Shares) Within The Group

Sale Of 588 619 AVI Limited Ordinary Shares (“Shares”) Within The Group

AVI Limited
Registration Number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI” or “Group”)

SALE OF 588 619 AVI LIMITED ORDINARY SHARES (“SHARES”) WITHIN THE GROUP

The AVI Limited Executive Share Scheme Trust (“ESPT”) was replaced
by the Revised AVI Limited Executive Share Incentive Scheme in
November 2016. Since this date 588 619 AVI Shares (representing
0.17% of AVI’s current issued share capital), previously allocated
to participants, have been forfeited or lapsed. In anticipation of
the winding up of the Trust, these unallocated Shares have been
transferred within the AVI Group, and remain subject to the same
restrictions as when held by the ESPT.

The shares will continue to be treasury shares and will have no
impact on the earnings per share, headline earnings per share and
net asset value per share.

In compliance with Rules 3.63 – 3.74 of the Listings Requirements
of the JSE Limited (“the JSE”), the following information is
disclosed:

Name                     :     The AVI Limited Executive Share
                               Scheme Trust
Date of transaction       :    10 November 2020
Class of securities       :    Ordinary shares
Nature of transaction     :    Sale of ordinary shares
Price per share           :    R 78.27
Number of ordinary shares :    588 619
Aggregate consideration :      R 46 071 209.13
Extent of interest        :    Direct beneficial
Clearance obtained        :    Yes

The above transaction was done off-market.

Name                      :    AVI Financial Services (Pty) Ltd
Date of transaction       :    10 November 2020
Class of securities       :    Ordinary shares
Nature of transaction     :    Purchase of ordinary shares above
Price per share           :    R 78.27
Number of ordinary shares :    588 619
Aggregate consideration :      R 46 071 209.13
Extent of interest        :    Direct beneficial
Clearance obtained        :    Yes

The above transaction was done off-market.

Illovo
Sandton
11 November 2020

Sponsor
The Standard Bank of South Africa Limited

Date: 11-11-2020 10:30:00
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.