To view the PDF file, sign up for a MySharenet subscription.

ESKOM HOLDINGS SOC LIMITED - Notice of Fulfilment of Certain Conditions Precedent Relating to the Asset Transfer Agreement in Respect of the Tran

Release Date: 02/04/2024 17:46
Code(s): E168 ECN32 EL30 E170 ES33 ES42 EL31 ES26 EL29 EL28 EL36 EL037     PDF:  
Wrap Text
Notice of Fulfilment of Certain Conditions Precedent Relating to the Asset Transfer Agreement in Respect of the Tran

Eskom Holdings SOC Limited ("Eskom")
(Registration No. 2002/015527/30)
JSE alpha code: BIESKM


Eskom refers to the SENS announcement dated 20 December 2021 pursuant to which Eskom notified its debt
investors that on 17 December 2021 a legally binding asset transfer agreement, pursuant to which Eskom
would dispose of its assets and liabilities comprising its transmission division to its wholly-owned subsidiary,
National Transmission Company South Africa SOC Limited ("NTCSA"), was executed. The transfer of the
transmission division to NTCSA was subject to certain suspensive conditions being met, which include, but
are not limited to, Eskom obtaining all applicable creditor consents.

Eskom is pleased to announce that all the suspensive conditions to the transfer, including the receipt of all
required financial lender consents have been met. This marks a significant milestone in advancing Eskom's
turnaround plan and addressing the country's energy crisis.

The Transmission Unbundling is essential to allow much-needed new grid access, establish a level playing
field across electricity sellers, encourage private sector investment in generation, and help Eskom overcome
its current operational challenges.

The receipt of all required financial lender consents was a critical suspensive condition to the implementation
of the Transmission Unbundling, and Eskom would like to thank its lenders for their ongoing support through
this process.

The implementation of the transfer of the Eskom Transmission division to NTCSA is subject to a number of
steps being completed and notifications being given. These steps are currently being undertaken and the
relevant notices will be given.

Eskom will communicate any updates regarding implementation to the market in due course.

Lazard acted as financial advisor and White & Case and ENS acted as international and local legal advisors,
respectively, to Eskom for the transaction.


02 April 2024

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 02-04-2024 05:46:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story