Results of general meeting and update on early bond redemption AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) Share code: AEG Share ISIN: ZAE000111829 JSE 2019 Convertible Bond Code: AEGCB JSE 2019 Convertible Bond ISIN: ZAE000194940 ("Aveng", "the Company") RESULTS OF GENERAL MEETING AND UPDATE ON EARLY BOND REDEMPTION Aveng Shareholders are advised that at the general meeting held today 10 September 2018, the requisite majority of shareholders approved all the resolutions, as set out in the notice of the general meeting, necessary to proceed with the early redemption (the "Early Bond Redemption") of the convertible bonds still outstanding (the ”Convertible Bonds”) and the issue of new Aveng shares at the rights offer price of 10c (“Specific Issue”). As such, Aveng is pleased to announce that the implementation of the Specific Issue is unconditional and will proceed according to the timing set out below. The positive vote by shareholders today in favour of the Specific Issues of Aveng ordinary shares to settle the Convertible Bonds before their July 2019 maturity date is a clear vote of confidence in the Company’s strategic action plan. Aveng remains firmly of the view that the implementation of the Early Bond Redemption is in the best interest of all its stakeholders. The positive vote today by shareholders is an important step forward in this process. The implementation of the Specific Issue, which shares are to be issued on Tuesday, 25 September 2018, will complete one of the pillars of the strategic action plan. This provides a platform that allows the Company to complete the execution of the other pillars of the strategic action plan. Management and the Board is encouraged by the level of support for the strategy received from major stakeholders. This includes the Company’s largest single shareholder Aton, who have engaged with the Company in a positive manner and have expressed their support for Aveng’s continued independent future. Results of the general meeting There were 5 348 525 326 ordinary shares in issue at the date of the general meeting. The total number of shares present/represented, including proxies, at the meeting was 4 682 486 546 or 88% of Aveng’ issued share capital as at Friday, 31 August 2018, being the voting record date. The voting results of the resolutions were as follows: Ordinary resolution 1: Approval of the Specific Issue to Coronation For Against Abstain Total shares voted Shares voted 3 823 922 929 NIL 858 563 617 3 823 922 929 % of total shares voted 100% 0% % of total issued share capital 16.05% 71.50% Ordinary resolution 2: Approval of the Specific Issue to Allan Gray For Against Abstain Total shares voted Shares voted 3 625 731 254 42 256 400 1 014 498 892 3 667 987 654 % of total shares voted 98.85% 1.15% % of total issued share capital 18.97% 68.58% Ordinary resolution 3: Approval of the Specific Issue to Other Bondholders For Against Abstain Total shares voted Shares voted 4 682 111 949 272 576 102 021 4 682 384 525 % of total shares voted 99.99% 0.01% % of total issued share capital 0.00% 87.55% Ordinary resolution 4: Approval for directors to implement the Specific Issue For Against Abstain Total shares voted Shares voted 4 682 384 525 NIL 102 021 4 682 348 525 % of total shares voted 100% 0% % of total issued share capital 0.00% 87.55% Salient Dates of the Early Bond Redemption The proposed salient dates relating to the Early Bond Redemption are as follows: 2018 Last Date to Trade to determine which bondholders are to be Tuesday, 18 September issued new Aveng shares in the Early Bond Redemption Ex-date and the listing of the Convertible Bonds suspended on the Wednesday, 19 September Main Board of the JSE Limited (“JSE”) Record date to determine which bondholders are to be issued new Friday 21 September Aveng shares in the Early Bond Redemption Early Bond Redemption Tuesday 25 September Ordinary shares issued to bondholders and CSDP or broker Tuesday, 25 September accounts updated Convertible Bonds terminated on the JSE Wednesday 26 September Jet Park 10 September 2018 Financial advisor and transaction sponsor for the Capital Markets Transaction Rand Merchant Bank (A division of FirstRand Bank Limited) JSE Sponsor UBS South Africa Proprietary Limited Legal advisors Baker McKenzie Debt sponsor Absa Bank Limited, acting through its corporate and investment banking division Michael Canterbury Group Executive: Strategy & Investor Relations Tel: 011 779 2979 Email: michael.canterbury@avenggroup.com Date: 10/09/2018 03:28:00 Produced by the JSE SENS Department. 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