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ECSPONENT LIMITED - Finalisation and declaration announcement relating to the conversion of Class E preference shares to ordinary shares

Release Date: 21/07/2020 10:58
Code(s): ECS ECSE1 ECSE2 ECSE3 ECSE4 ECSE5 ECSE6 ECSE7 ECSD ECSG     PDF:  
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Finalisation and declaration announcement relating to the conversion of Class E preference shares to ordinary shares

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
Hybrid Issuer Code: ECSH
("the Company" or "Ecsponent")

 Class E Preference Shares                   Series No.                   JSE Code            ISIN
 Ecsponent Pref Share E1                     1                            ECSE1               ZAE000250155
 Ecsponent Pref Share E2                     2                            ECSE2               ZAE000254397
 Ecsponent Pref Share E3                     3                            ECSE3               ZAE000258869
 Ecsponent Pref Share E4                     4                            ECSE4               ZAE000263281
 Ecsponent Pref Share E5                     5                            ECSE5               ZAE000268363
 Ecsponent Pref Share E6                     6                            ECSE6               ZAE000273132
 Ecsponent Pref Share E7                     7                            ECSE7               ZAE000280947

FINALISATION AND DECLARATION ANNOUNCEMENT IN RESPECT OF THE CONVERSION OF THE CLASS E
PREFERENCE SHARES INTO ORDINARY SHARES


Security holders are referred to the announcement released on SENS on 29 May 2020 (“Announcement”), which provided
details, inter alia, relating to the conversion of the Class E preference shares into ordinary shares (“Default Conversion”).

Security holders are advised that the conversion rate applicable to Class E preference shares is as set out below:

 Class                   ISIN                                   Conversion ratio – number of ordinary shares for
                                                                                        1 (one) preference share
 Class E                 All ISIN numbers                                                             2771.09096

The above conversion rate is driven by the weighted average closing price of the Company’s ordinary shares, calculated
over the last twenty days of trading on the JSE prior to the first day of default, with the first day of default being 9 March
2020.

In the event that the Default Conversion gives rise to a fraction of an ordinary share becoming due to a Class E preference
shareholder, fractional entitlements will be rounded up or down to the nearest whole number in compliance with the JSE’s
rounding convention, and in accordance with the terms of the Company’s Memorandum of Incorporation.

The timetable set out in the Announcement will not change and is repeated below:

                                                                                                                       2020
 Last day to trade prior to the Default Conversion becoming effective                                     Tuesday, 4 August

 Suspension in trading in the Class E preference shares                                                 Wednesday, 5 August

 Commencement of trading in the ordinary shares                                                         Wednesday, 5 August

 Record date for the Default Conversion (“Record Date”)                                                    Friday, 7 August
 Accounts of current dematerialised Class E preference shareholders with their CSDPs or                  
                                                                                                         Tuesday, 11 August
 Brokers will be updated, as applicable, with the ordinary shares

 Share certificates relative to the ordinary shares issued pursuant to the Default                       Tuesday, 11 August
 
 Conversion to relevant certificated Class E preference shareholders, posted by registered
 post, at their risk
 Current Class E preference shares removed from the JSE List at commencement of trade                  Wednesday, 12 August

Note:
1. Class E preference shareholders may not dematerialise or rematerialise their preference shares between Tuesday,
   4 August 2020 and Friday, 7 August 2020, both dates inclusive.

For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations.

21 July 2020
Pretoria

Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 21-07-2020 10:58:00
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