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Distribution Of Circular And Notice Of General Meeting
AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
ISIN: ZAE000195731
Share code: AEE
("AEEI" or "the Company")
DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING
1. INTRODUCTION
AEEI Shareholders ("Shareholders") are referred to the 'Disposal of shareholding in BTSA and the
withdrawal of cautionary announcement' released on SENS on 28 September 2023 wherein
Shareholders were advised that on 26 September 2023, Kilomix Investments Proprietary Limited
("Kilomix"), a wholly-owned subsidiary of AEEI, entered into a share repurchase agreement with
BT Communications Services South Africa Proprietary Limited ("BTSA"), a subsidiary of BT Limited,
in terms of which BTSA will acquire 30 000 ordinary shares, constituting 30% of the issued share
capital of BTSA owned by Kilomix, for an aggregate amount of R290 million ("the Disposal").
2. DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING
Shareholders are hereby advised that a circular containing full details of the Disposal and
incorporating, inter alia, a notice convening a general meeting of Shareholders ("General
Meeting") ("Circular"), has been distributed to Shareholders today, 24 November 2023.
Copies of the Circular may be obtained during normal business hours from the registered office
of AEEI and from the office of Vunani Sponsors, whose addresses are set out in the "Corporate
Information and Advisors" section of the Circular. The Circular is also available on AEEI'S website
at https://aeei.co.za/investor-relations/notices/.
3. NOTICE OF GENERAL MEETING
Notice is hereby given that a General Meeting will be held at 10:00 on Thursday, 28 December
2023 to be conducted by and accessible to Shareholders, through electronic communication as
envisaged in section 63(2)(a) of the Companies Act, the JSE Listings Requirements and clause 21
of the memorandum of incorporation of the Company, in order to consider and, if deemed fit,
approve with or without modification, the resolutions set out in the Notice of General Meeting.
Shareholders are referred to the section commencing on page 3 of the Circular entitled "Action
required by AEEI Shareholders" which sets out the details regarding electronic participation at the
General Meeting.
4. SALIENT DATES AND TIMES
Shareholders are referred to the table below setting out the salient dates and times in relation to
the Disposal.
Capitalised terms set out in paragraph 4 that are not otherwise defined, bear the meanings
ascribed to them in the Circular.
2023
Record date for AEEI Shareholders to be recorded in the Register
in order to receive the Circular and Notice of General Meeting Friday, 17 November
Circular incorporating the Notice of General Meeting and Form of
Proxy (yellow) distributed to AEEI Shareholders on Friday, 24 November
Announcement of distribution of Circular and notice convening
the General Meeting published on SENS on Friday, 24 November
Announcement of distribution of Circular and notice convening
the General Meeting published in the South African press on Monday, 27 November
Last day to trade in AEEI Shares in order to be recorded in the
Register to vote at the General Meeting on Monday, 11 December
Record date for AEEI Shareholders to be recorded in the Register
in order to be eligible to attend and participate in the General
Meeting and to vote thereat, by close of trade on Thursday, 14 December
For administrative purposes, Forms of Proxy (yellow) in respect of
the General Meeting to be lodged at the Transfer Secretaries by
10:00 on Wednesday, 27 December
General Meeting to be held at 10:00 on Thursday, 28 December
Results of the General Meeting published on SENS on Thursday, 28 December
Results of the General Meeting published in the South African
press on Friday, 29 December
Notes:
1. The above dates and times are subject to such changes as may be agreed to and approved by
the JSE, if required. Any such amendment will be released on SENS.
2. AEEI Shareholders should note that as transactions in AEEI Shares are settled in the electronic
settlement system used by Strate, settlement of trades takes place 3 Business Days after the
date of such trades. Therefore, AEEI Shareholders who acquire AEEI Shares after close of trade
on Monday, 11 December 2023, will not be eligible to attend at, participate in and to vote at
the General Meeting.
3. If the General Meeting is adjourned or postponed, the above dates and times will change, but
the Forms of Proxy (yellow) 'provided on the Circular' submitted in respect of the initial
General Meeting will remain valid in respect of any adjournment or postponement thereof.
4. Although the salient dates and times are stated to be subject to change, such statement shall
not be regarded as consent or dispensation for any change to time periods which may be
required in terms of the Companies Act and the Listings Requirements, where applicable, and
any such consents or dispensations must be specifically applied for and granted.
5. All times referred to in the Circular are references to South African Standard Time.
Cape Town
24 November 2023
Legal adviser to AEEI
Clyde & Co Incorporated
Corporate Advisor and Sponsor to AEEI
Vunani Sponsors
Joint Sponsor to AEEI
Merchantec Capital
Date: 24-11-2023 04:37:00
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