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: michael.canterbury@avenggroup.com

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