AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Renewal Of Cautionary Announcement Bt Call Option

Renewal Of Cautionary Announcement – Bt Call Option

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or "the Company")


RENEWAL OF CAUTIONARY ANNOUNCEMENT – BT CALL OPTION
Shareholders are referred to the cautionary announcement dated
4 June 2021 (“Cautionary Announcement”) and to the subsequent renewals
thereof, the last of which was dated 28 June 2023, regarding the
dispute (“Dispute”) that exists between Kilomix Proprietary Limited
(“Kilomix”), a subsidiary of AEEI, and BT Limited (“BT”) over the
exercise by BT of a call option (“BT Call Option”) in respect of the
shares held by Kilomix in BT Communications Services South Africa
Proprietary Limited (“BTSA”).

The Dispute is the subject of arbitration proceedings in the
International Court of Arbitration pursuant to the provisions of the
Shareholders’ Agreement between Kilomix and BT in respect of BTSA,
and was set down for hearing from 10 July 2023 to 21 July 2023.

Subsequently, AEEI, Kilomix, BT and BTSA have entered into settlement
discussions to resolve the Dispute. The settlement discussions are
still ongoing, but are expected to be finalised shortly. Full details
of the settlement will be shared with shareholders in due course.

Shareholders are therefore advised to continue to exercise caution
when dealing in the Company’s securities until further announcements
in respect of the Dispute are made.


Cape Town
10 August 2023

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Date: 10-08-2023 03:00:00
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