ALLIED ELECTRONICS CORPORATION LIMITED - Update on Lawtrust Acquisition

Update on Lawtrust Acquisition

ALLIED ELECTRONICS CORPORATION LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “Altron Group” or “the Company”)


UPDATE ON LAWTRUST ACQUISITION

Shareholders are referred to the announcement published on 20 April 2021 wherein the Company
notified shareholders of a Category 2 acquisition of 100% of the issued shares in Law Trusted Third
Party Services Proprietary Limited (“Lawtrust”) from Etion Limited, a South African public company
listed on the Johannesburg Stock Exchange with Registration Number 1987/001222/06 (“Etion”).

A wholly owned subsidiary of the Altron Group, namely Altron TMTSA Group Proprietary Limited
(“Altron TMTSA”) entered into an agreement (“Agreement”) with Etion, in terms of which Etion will
sell and Altron TMTSA undertook to acquire 100% of the issued share capital of Lawtrust. The
transaction was subject to the fulfilment or waiver of conditions precedent (“Conditions Precedent”)
by no later than 15 July 2021, or such date as may be agreed in writing by the parties (collectively:
Altron TMTSA; Etion and Lawtrust).

By way of update on the Category 2 acquisition transaction, shareholders are advised that not all of
the Conditions Precedent have been fulfilled and the parties (collectively: Altron TMTSA; Etion and
Lawtrust), have agreed to extend the date for the fulfilment or waiver of Conditions Precedent to
31 August 2021, through the conclusion of an addendum to the Agreement.


Johannesburg
14 July 2021
Sponsor: Investec Bank Limited

Date: 14-07-2021 03:00:00
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