AVENG LIMITED - Response to announcement by Murray & Roberts

Response to announcement by Murray & Roberts

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
Share code: AEG
Share ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
("Aveng", or "the Company")

RESPONSE TO ANNOUNCEMENT BY MURRAY & ROBERTS

Murray & Roberts M&R transaction

Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018 as
well as the M&R announcement published on SENS earlier this morning in relation to the potential
combination of M&R and Aveng, stating that M&R has given Aveng formal notice that it will no longer
be pursuing the M&R Transaction (as defined in previous announcements). The Company confirms that
it is in receipt of such formal notice from M&R.

Capital Markets Transaction

As detailed in the announcement released on SENS on Thursday, 2 August 2018, Aveng remains of the
view that the implementation of the Early Bond Redemption (as defined in previous SENS
announcements) as soon as practically possible is in the best interest of all stakeholders and as such,
given the recent developments in relation to the M&R transaction described above, the Company
intends to continue with its Capital Markets Transaction (as defined in previous SENS announcements)
and specifically the Early Bond Redemption. Deleveraging the Company to reduce its debt burden and to
improve liquidity is critical to unlock value for Aveng shareholders.

Further detail in relation to the Early Bond Redemption is expected to be announced in due course.

Cautionary announcement

Shareholders are advised that the cautionary in relation to the M&R transaction is withdrawn.

Shareholders are advised to continue to exercise caution when dealing in the Company’s securities until
a further announcement is made in relation to the Capital Markets Transaction.

Jet Park
8 August 2018

JSE Sponsor
UBS South Africa Proprietary Limited

Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)
Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

Date: 08/08/2018 09:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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