ALLIED ELECTRONICS CORPORATION LIMITED - Fulfilment of conditions precedent and completion of transaction

Fulfilment of conditions precedent and completion of transaction

Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron”)

ACQUISITION BY ALTRON OF UBUSHA TECHNOLOGIES - FULFILMENT OF
CONDITIONS PRECEDENT AND COMPLETION OF TRANSACTION

Shareholders are referred to the announcement released on SENS on 9 December 2019,
relating to the acquisition by Altron of the entire issued share capital of Gydan Investments (RF)
Proprietary Limited (“Gydan”), the holding company of Ubusha Technologies Proprietary
Limited ("the Transaction").

Shareholders are hereby notified that all conditions precedent to the Transaction as set out in
the Share Sale Agreement ("the agreement") have either been fulfilled or waived, as the case
may be. Accordingly, the Transaction is now unconditional in accordance with the terms of the
agreement, with the closing date being 3 March 2020.

Johannesburg
4 March 2020


Sponsor
Investec Bank Limited

Date: 04-03-2020 09:30:00
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