AVI LIMITED - Cancellation And Delisting Of 17 234 352 AVI Limited Ordinary Shares

Cancellation And Delisting Of 17 234 352 AVI Limited Ordinary Shares

AVI Limited
Registration Number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI”)

CANCELLATION AND DELISTING OF 17 234 352 AVI LIMITED ORDINARY SHARES

The Company’s wholly owned subsidiary, AVI Investment Services (Pty)
Ltd (“AVI Investment Services”) previously held 17 234 352 ordinary
shares in AVI (“treasury shares”), which were acquired in the market
pursuant to a share buy-back exercise in 2007.

On 19 August 2019, AVI Investment Services effected a distribution in
specie of the treasury shares to the Company, in its capacity as the
holding company of AVI Investment Services.

AVI confirms that the delisting and cancellation of 17 234 352
ordinary shares has been approved by the JSE Limited and the shares
will be cancelled with effect from 29 August 2019.

The AVI shares cancelled represent 4.89% of the issued share capital
of the Company immediately prior to the cancellation. Post the
cancellation, the issued share capital of AVI will be 335 430 838
ordinary shares.

The cancellation of the treasury shares has no impact on the earnings
per share, headline earnings per share and net asset value per share.

Illovo
Sandton
29 August 2019

Sponsor
The Standard Bank of South Africa Limited

Date: 29/08/2019 03:20:00
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