ALTRON LIMITED - Termination of the Transaction relating to the Disposal of Altron Document Solutions

Termination of the Transaction relating to the Disposal of Altron Document Solutions

ALTRON LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code: AEL ISIN: ZAE000191342
(“Altron” or “Company”)

TERMINATION OF THE TRANSACTION RELATING TO THE DISPOSAL OF ALTRON
DOCUMENT SOLUTIONS

Shareholders are referred to the announcements published by the Company on 17 March 2022, 26 May 2022
and 31 August 2022 notifying shareholders of a Category 2 transaction relating to the disposal of its business
interest in Altron Document Solutions (“ADS”) and its associated subsidiary, Genbiz Trading 1001 Proprietary
Limited (“Genbiz”) to Bi-Africa Investment Holdings Proprietary Limited (“Bi-Africa”), (the “Transaction”).

The Transaction was subject to the fulfilment of various conditions precedent, including regulatory approvals
and the conclusion of a distribution agreement between Bi-Africa and Xerox Limited (“Xerox”) to the satisfaction
of both parties whereby Bi-Africa was to be appointed as Xerox’s distribution agent in South Africa and Sub-
Saharan Africa, to be fulfilled by the long stop date of 28 February 2023. While all regulatory approvals were
received, Bi-Africa and Xerox could not conclude a distribution agreement, satisfactory to both parties, resulting
in the termination of the Transaction.

Altron continues to view the ADS and Genbiz businesses as non-core to its strategy, and remains committed
to exploring alternatives to dispose of these non-core interests.


Johannesburg
28 February 2023

Transaction Advisor
Marsden Advisory Pty Ltd

Sponsor
Investec Bank Limited

Date: 28-02-2023 05:00:00
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