Notification in terms of section 45(5) of the Companies Act 71 of 2008
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT ISIN: ZAE000177218
(Approved as a REIT by the JSE)
(“Attacq” or “the company”)
NOTIFICATION IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008
Notice is hereby given that, in terms of the provisions of section 45(5)(a) of the Companies Act 71 of 2008 (“the
Companies Act”) and pursuant to the special resolution passed at the annual general meeting of the company held on
14 November 2019 authorising the board of directors (“the board”) to provide direct and indirect financial assistance
to current and future subsidiaries and to current and future associated companies of the company, the board adopted a
resolution on 3 March 2020 authorising the company to provide financial assistance in terms of section 45 of the
Companies Act (“financial assistance”) by way of cash contributions and/or provisions of guarantees in aggregate
amounting to R912 510 000 to its wholly-owned subsidiaries as follows:
- Attacq Waterfall Investment Company Proprietary Limited (“AWIC”), the sum of R450 000 000;
- AIH International Limited, the sum of R200 000 000;
- Attacq Management Services Proprietary Limited, the sum of R20 000 000;
- AIM Investco Proprietary Limited, the sum of R15 000 000;
- Attacq Ellipse Proprietary Limited, the sum of R217 500 000; and
- Ad-hoc, to group subsidiaries as required, the sum of R10 010 000.
The board adopted a further resolution on 5 March 2020 authorising the company to provide financial assistance to
AWIC, in the form of a guarantee provided in favour of Nedbank Limited (“Nedbank”) in an amount of up to
R3 108 043 150, which guarantee replaces an existing suretyship provided by the Company in favour of Nedbank in
respect of AWIC.
In accordance with section 45(3)(b) of the Companies Act, the board advises that it is satisfied and acknowledges, in
respect of the above-mentioned financial assistance, that:
a) immediately after providing such financial assistance, Attacq would have satisfied the solvency and liquidity
test as provided for in section 4 of the Companies Act; and
b) the terms under which such financial assistance has been given are fair and reasonable to the company.
12 March 2020
Date: 12-03-2020 12:40:00
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