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AVENG LIMITED - Sale of Aveng Water complete
Sale of Aveng Water complete AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) Share code: AEG Share ISIN: ZAE000194940 ("Aveng", "the Company") SALE OF AVENG WATER COMPLETE On 18 January 2019, Aveng announced the sale of Aveng Water, as a going concern, to Infinity Partners, a 100% Black-owned company. The sale was subject to the fulfillment of a number of conditions precedent as outlined in the announcement on 18 January 2019. Aveng is pleased to announce that all conditions precedent have been met and that the transaction has now become unconditional. Following the due diligence process, the sale price was reduced from R95m to R85m with an additional deferred payment of R5m subject to certain conditions having been fulfilled by June 2020. The payment of R85 million was received from Infinity Partners on Tuesday 25 June 2019 and will be used to strengthen the financial position of the Group. The finalisation of the sale underpins the Company's commitment to refocusing Aveng to become an international infrastructure, mining and resources group. Aveng remains committed to completing the balance of the disposals in a timeous manner subject to acceptable value being realised. Jet Park 25 June 2019 JSE Sponsor UBS South Africa Proprietary Limited Michael Canterbury Group Executive: Strategy & Investor Relations Tel: 011 779 2979 Email: email@example.com Date: 25/06/2019 02:14:00 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.