AVIOR CAPITAL MARKETS HOLDINGS LIMITED - Disclosure in terms of paragraph 3.4(a) of the JSE Listings Requirements and renewal of cautionary announcement

Disclosure in terms of paragraph 3.4(a) of the JSE Listings Requirements and renewal of cautionary announcement

AVIOR CAPITAL MARKETS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2015/086358/06)
JSE Share Code: AVR
ISIN: ZAE000211637
(“Avior Holdings” or “Company”)


      DISCLOSURE IN TERMS OF PARAGRAPH 3.4(A) OF THE JSE LIMITED LISTINGS
          REQUIREMENTS AND RENEWAL OF CAUTIONARY ANNOUNCEMENT



1.    INTEGRATED REPORT

      Shareholders of Avior Holdings (“Shareholders”) are referred to the announcement published
      by the Company on the JSE Limited’s (“JSE”) stock exchange news service (“SENS”) on 16
      August 2019 in terms of which Shareholders were advised of the distribution of the Company’s
      integrated annual report (“Integrated Report”), and the announcement published by the
      Company on SENS on 9 September 2019 in terms of which Shareholders were advised of the
      renewal of a delisting cautionary announcement (“Renewal Cautionary Announcement”).

      Note 34 of the Integrated Report informed Shareholders that Avior Capital Markets
      Proprietary Limited (“Avior Capital”), the main operating subsidiary of the Company,
      cancelled a commercial lease in respect of its planned Cape Town office relocation and that
      the validity of the cancellation was disputed by the landlord, who gave notice of its intention
      to institute a claim for alleged damages (“Lease Cancellation”).

2.    COMMENCEMENT OF LEGAL PROCEEDINGS

      Shareholders, in accordance with paragraph 3.4(a) of the JSE Listings Requirements (“JSE LR”),
      are hereby advised that legal proceedings have been instituted against Avior Capital by the
      landlord in respect of the Lease Cancellation, pursuant to which the landlord claims alleged
      damages for the total net rental of the entire lease term of seven years, plus interest and costs
      (“Claim”).

      The Company confirms that Avior Capital will instruct its attorneys to defend the Claim.

3.    RENEWAL OF CAUTIONARY ANNOUNCMENT

      Further to the publication of the Renewal Cautionary Announcement, in accordance with
      paragraph 11.41 of the JSE LR, Shareholders are hereby advised that a potential delisting is
      still being considered by the board of the Company. Accordingly, having regard to the
      potential delisting and the Claim, Shareholders are advised to continue exercising caution
      when dealing in the Company’s securities until such time a further announcement has been
      made by the Company in this regard.
Sandton
13 September 2019

Designated Advisor:

Pallidus Capital Proprietary Limited

Date: 13/09/2019 05:20:00
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