AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Cautionary Announcement

Cautionary Announcement

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or "the Company")

CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the announcements released on 5 November
2008 and 18 December 2008 regarding the acquisition of 30% of BT
Communications Services South Africa Proprietary Limited ("BTSA")
(“BTSA Shares”) by AEEI, which at the time was named Sekunjalo
Investments Limited (“the Acquisition”).

In terms of the shareholders agreement (“Shareholders Agreement”)
entered into between BT Limited (“BT”), BTSA, Kilomix Investments
Proprietary Limited and AEEI on 4 November 2008, BT has a call option
(“BT Call Option”) allowing BT to repurchase the BTSA Shares from AEEI
in the event of an act or omission which is not remedied within 60
days.

Shareholders are advised that BT sent a letter indicating that it
wishes to exercise its call option due to a breach as defined in the
shareholders agreement.

Until the validity of the exercise of the BT Call Option can be
determined, and if it was validly exercised and until an agreement on
the BT Call Option price is reached, shareholders are advised to
exercise caution when dealing in the Company’s securities until
further announcements in respect of the BT Call Option are made.


Cape Town
4 June 2021

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Date: 04-06-2021 05:30:00
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