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Further Update on the Proposed Transactions – Scheme Repurchase Court Approval
AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL ISIN: ZAE000221370
Hybrid instrument code: AXLP ISIN: ZAE000221388
(“African Phoenix” or “the Company”)
FURTHER UPDATE ON THE PROPOSED TRANSACTIONS – SCHEME REPURCHASE COURT APPROVAL
Shareholders are referred to the announcements released on SENS on 7 September 2018,
18 February 2019, 15 March 2019, 20 March 2019, 26 March 2019, 29 March 2019 and 4 April 2019 and
to the circular distributed to Shareholders on 18 February 2019 (the "Circular"). Terms defined in the
Circular shall, unless otherwise stated, bear the same meaning in this announcement.
In the 'Further Update on the Proposed Transactions' announcement released on SENS by the Company
on 4 April 2019, Shareholders were notified that the Company had made an application to the court for
approval of Special Resolution Number 1 (relating to the Scheme Repurchase) in terms of
section 115(3)(a), read with section 115(7), of the Companies Act (the "Application").
Shareholders are hereby advised that the Application was heard today in the High Court of South Africa
(Gauteng Local Division, Johannesburg) on an unopposed basis and a court order was granted approving
Special Resolution Number 1 (relating to the Scheme Repurchase). All the Scheme Repurchase Conditions
relating to the implementation of the Scheme Repurchase have been fulfilled and/or waived (to the extent
permitted) and accordingly, the Scheme Repurchase has become unconditional. Shareholders will be
updated on the revised timelines for the implementation of the Scheme Repurchase in a finalisation
announcement expected to be issued by the Company shortly.
Johannesburg
5 June 2019
Financial advisor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisor
Webber Wentzel
Sponsor
Merchantec Capital
Date: 05/06/2019 04:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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