ECSPONENT LIMITED - Results of the general meeting

Results of the general meeting

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Codes: ECSP and ECSD
(“the Company” or “Ecsponent”)


RESULTS OF THE GENERAL MEETING


Results of the General Meeting
The Ecsponent board of directors is pleased to announce that, at the general meeting of the Company’s
ordinary shareholders held yesterday, 22 January 2019 (“General Meeting”), the ordinary resolution in respect
of the Pink Orchid Acquisition (set out below) was approved by the requisite majority of votes.

Background to the Pink Orchid Acquisition
On 29 June 2018, Ecsponent announced the proposed acquisition of 100% equity in Pink Orchid, a Botswana-
based investment holding company, holding various assets with profitable opportunities to extend its African
and foreign currency investment portfolio (the “Pink Orchid Acquisition”). Pink Orchid is being acquired for a
total consideration of R185 million.

This acquisition contributes to the growth in the Company’s Equity Holdings portfolio and diversifies the Group
across sectors and geographies, introducing further hard currency revenue streams to the business. As a
result, it will contribute to:
    • position the Group for future value-enhancing investment opportunities;
    • create an efficient and professional management structure for the Group’s equity investments;
    • improve the balance sheet concentration exposure;
    • provide a balance between the Group’s short-term cash generative assets and longer-term growth
         assets; and
    • increase the Group’s equity holding in assets considered to have high growth potential.

The following information is provided in respect of the votes at the General Meeting:

The total number of Ecsponent ordinary shares in issue is 1 079 555 364 shares, of which only 463 480 863
shares were capable of being voted (“Voteable Shares”) as a result of the exclusion of the votes of certain
related parties and their associates in terms of the JSE Limited Listings Requirements. A total of 215 389 431
shares were voted at the General Meeting, representing 19.95% of the total shares in issue, and 46.47% of
the Voteable Shares.

 Resolution                                 Shares voted                 Votes            Votes        Votes
                                                                     Abstained              For       Against
                                           Number         % (1)         % (1)             % (2)        % (2)
 Ordinary resolution number 1         215 389 431        19.95             -            100.00            -
 Approval of the Pink Orchid
 Acquisition

Notes:
1. As a percentage of total ordinary shares in issue.
2. As a percentage of shares voted.

For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations

23 January 2019
Pretoria

Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

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