enX GROUP LIMITED - Change to the Board - Resignation of Directors

Change to the Board - Resignation of Directors

ENX GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2001/029771/06)
JSE share code: ENX ISIN: ZAE000195723
("enX" or “the Company”)

CHANGE TO BOARD – RESIGNATION OF DIRECTORS

Shareholders are referred to the announcement released on SENS on 9 June 2020 in which
Shareholders were advised that the board of directors of enX (“the Board”) received correspondence
from MCC Contracts (Pty) Ltd (“MCC Contracts”) advising the Board that MCC Contracts is the
registered and beneficial holder of c.32.44% of enX’s issued share capital and that, in accordance with
section 61(3) of the Companies Act 71 of 2008, as amended, MCC Contracts demands that the Board
convene a special meeting of shareholders to consider various resolutions for the purpose of:

-       Removing Messrs Steve Booysen and Eddy Oblowitz as independent non-executive directors of
        the Company;
-       Removing Messrs Allan Joffe and Paul O’Flaherty as non-executive directors of the Company; and
-       Appointing each of Messrs Oyama Mabandla, Zolani Kgosietsile Matthews, Warren Chapman and
        Andrew James Hannington as non-executive directors of the Company.

Shareholders are further advised that on 18 June 2020 the Board received signed irrevocable
undertakings from shareholders who, together with MCC Contracts, hold 51.42% of enX’s issued share
capital, indicating that they will vote in favour of the resolutions to be proposed by MCC Contracts at
the special meeting of shareholders. In light of the level of shareholder support received for the
resolutions regarding the removal of Messrs Booysen, Oblowitz, Joffe and O’Flaherty they believe that
it is in the best interest of enX if they resign immediately seeing that it is clear that the resolutions that
will be proposed for their removal at the special meeting of shareholders will be passed.

RESIGNATION OF DIRECTORS

In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the Board hereby
notifies its Shareholders that, with effect from 22 June 2020:

    -    Mr Steve Booysen has resigned as an independent non-executive director and Chairperson of
         the Board;
    -    Mr Eddy Oblowitz has resigned as an independent non-executive director of the Company; and
    -    Mr Allan Joffe and Mr Paul O’Flaherty have resigned as non-executive directors of the Company.

The Board thanks Messrs Booysen, Oblowitz, Joffe and O’Flaherty for their contributions to the
Company and wishes them well in their future endeavours.

The remaining members of the Board will consider the filling of the vacancies left by Messrs Booysen,
Oblowitz, Joffe and O’Flaherty and a further announcement in this regard will be made soon.

Johannesburg
23 June 2020
_________________________________________________________________________________
Sponsor
The Standard Bank of South Africa Limited

Date: 23-06-2020 08:31:00
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