AEP ENERGY AFRICA LIMITED - Results of the General Meeting wherein shareholders have approved the Acquisition by the Company of IberAfrica

Results of the General Meeting wherein shareholders have approved the Acquisition by the Company of IberAfrica

AEP Energy Africa Limited
Incorporated in the Republic of South Africa
(Registration number: 2017/024904/06)
JSE share code: AEY
ISIN: ZAE000241741
(“AEP” or “the Company”)

RESULTS OF THE GENERAL MEETING WHEREIN SHAREHOLDERS HAVE APPROVED THE
ACQUISITION BY THE COMPANY OF IBERAFRICA

1. ACQUISITION OF IBERAFRICA

Shareholders are referred to the announcements released on SENS on 26 June 2018 and
27 September 2018 pertaining to the Transaction and the Specific Issue. Using the terms defined
therein unless otherwise stated, AEP is pleased to report on proceedings at the General Meeting held
today, 25 October 2018. A further condition precedent has been fulfilled towards transforming the
Company from a SPAC into an integrated energy business. Shareholders unanimously approved all of
the ordinary and special resolutions relating to the acquisition of 100% of the shares and shareholder
claims in IberAfrica for a cash consideration of US$61.5 million.

2. RESULTS OF THE GENERAL MEETING

The total number of ordinary shares in issue is 5 255 680 shares of which 5 186 200 shares were voted
at the General Meeting, representing 98.68%.
There were no abstentions.

 Resolutions                                         Shares voted               Votes          Votes
                                                                                  For        Against
                                                   Number         % (1)         % (2)          % (2)
 Ordinary resolution number 1:                   5 186 200        98.68        100.00           0.00
 Approval of the acquisition of IberAfrica.

 Special resolution number 1:                    5 186 200        98.68        100.00           0.00
 Authorisation to issue 30% or more of
 the Ordinary Shares currently in issue in
 terms of section 41(3) of the Companies
 Act for purposes of implementing the
 Specific Issue.

 Special resolution number 2:                    5 186 200        98.68        100.00           0.00
 Authority for the Board to issue new
 Shares of the Company to the PIC,
 Destiny, Trodera and Ebotos, to the
 extent they are regarded as persons
 falling within the ambit of section 41(1)
 of the Companies Act.

 Ordinary resolution number 2:                   2 686 000      51.11(3)       100.00           0.00
 Approval of the Destiny/Trodera
 Subscription in terms of the Listings
 Requirements.

 Ordinary resolution number 3:                   5 184 200      98.64(4)       100.00           0.00
 Approval of the Ebotos Subscription in
 terms of the Listings Requirements.

 Ordinary resolution number 4:                   2 611 200      49.68(5)       100.00           0.00
 Approval of the PIC Subscription in
 terms of the Listings Requirements.

 Ordinary resolution number 5:                   5 186 200      98.68          100.00           0.00
 General authorising resolution.

Notes:

1.   As a percentage of total ordinary shares in issue.
2.   As a percentage of shares voted.
3.   Destiny, Trodera and their respective associates (holding in aggregate 48.2% of the shares in
     issue) were excluded from voting on ordinary resolution number 2.
4.   Ebotos and its respective associates (holding in aggregate 0.04% of the shares in issue) were
     excluded from voting on ordinary resolution number 3.
5.   The PIC and its respective associates (holding in aggregate 49% of the shares in issue) were
     excluded from voting on ordinary resolution number 4.


Johannesburg
25 October 2018

Designated Advisor
Questco Corporate Advisory Proprietary Limited

Date: 25/10/2018 05:00:00 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.