COMAIR LIMITED - Invitation to Shareholders to Consult in Respect of a Business Rescue Plan

Invitation to Shareholders to Consult in Respect of a Business Rescue Plan

Comair Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1967/006783/06)
ISIN: ZAE00002983
Share Code: COM
(“Comair” or “the Company”)

INVITATION TO SHAREHOLDERS TO CONSULT IN RESPECT OF A BUSINESS
RESCUE PLAN – SECTION 150(1)

   1. In accordance with section 150(1) of the Companies Act 71 of 2008 ("Companies
      Act") the shareholders of the Company are invited to consult via electronic
      participation with the business rescue practitioners on the Company's business
      rescue plan at the date, time and in the manner set out below –
      Date: 27 August 2020
      Time: 14:00

   2. Shareholders wishing to participate in this electronic consultation meeting should
      contact the company secretary, Mr. Kim Gorringe, by email at
      kim.gorringe@comair.co.za by no later than 16:00 on Wednesday 26 August 2020 to
      acquire the details for participating at this meeting. The company secretary is obliged
      to validate such requests and confirm the identity of the shareholder and thereafter, if
      validated, provide further details on using the electronic facility.

   3. Shareholders will be liable for their own network charges and it will not be for the
      expense of the JSE or Comair. Comair cannot be held responsible in the case of loss
      of network connectivity or network failure due to insufficient airtime/internet
      connectivity/power outages/ electronic participation channel malfunction which would
      prevent shareholders from participating in the electronic consultation meeting

   4. The agenda for the meeting will be:
         1. Welcome
         2. The Company's Financial Position
         3. Overview of Business Rescue Proceedings to Date
         4. Key Features of the Anticipated Plan
         5. Consultation: Suggestions and Questions
         6. Closing

Per: Shaun Collyer and Richard Ferguson (Comair Limited's joint Business Rescue
Practitioners)

Bonaero Park
25 August 2020

Sponsor
PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED (“COMAIR”) SHOULD
NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH
AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERSHIP RESTRICTION CONTAINED
SECTIONS 16(4)(c) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING
RIGHTS OF FOREIGN SHAREHOLDERS MAY BE DECREASED PROPORTIONATELY SUCH THAT THE
VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN
SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO THE COMAIR’S MEMORANDUM
OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAILS. IF FOREIGN
SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUBT AS TO WHAT ACTION TO TAKE
THEY SHOULD SEEK ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.

Date: 25-08-2020 11:42:00
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.