ALVIVA HOLDINGS LIMITED - SECOND EXTENSION OF SCHEDULED REDEMPTION DATES AND AMENDMENT TO TERMS OF PREFERENCE SHARE SUBSCRIPTION AGREEMENT

SECOND EXTENSION OF SCHEDULED REDEMPTION DATES AND AMENDMENT TO TERMS OF PREFERENCE SHARE SUBSCRIPTION AGREEMENT

Alviva Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “the Company” or “the Group”)


SECOND EXTENSION OF SCHEDULED REDEMPTION DATES AND AMENDMENT TO TERMS OF
PREFERENCE SHARE SUBSCRIPTION AGREEMENT


In terms of a written Preference Share Subscription Agreement (“PSSA”) concluded between Absa Bank
Limited (acting through its Corporate and Investment Banking Division) (“Absa”), Alviva and two of its
subsidiary companies, DCT Holdings (RF) Proprietary Limited (“DCT”) and Datacentrix Proprietary
Limited (“Datacentrix”), on 4 April 2017, as amended, DCT issued 34 (thirty four) Redeemable
Preference Shares of R10 000 000 each (“shares”) to Absa in three tranches.


In order to distribute the redemption payments more evenly and with due consideration to cash
resources required for corporate actions, the scheduled preference share redemption dates of the
remainder of the shares have been extended as follows:


    •   in respect of 15 (fifteen) shares with a scheduled redemption date of 22 April 2021, to 30
        September 2021. 10 (Ten) of these shares were voluntarily redeemed during February 2021,
        leaving 5 (five) shares in issue; and
    •   in respect of 9 (nine) shares with a scheduled redemption date of 28 July 2021, to 30 May 2022.


In addition to the above and notwithstanding the fact that no group company had breached any of the
Absa covenants in terms of the PSSA, the covenants have been amended to allow for the accounting
implications of the adoption of IFRS16 – Leases, as follows:


    •   The Alviva Interest Cover Ratio decreased from at least 4 to at least 3.5; and
    •   The Datacentrix Interest Cover Ratio decreased from at least 4 to at least 3.5.


Midrand
26 March 2021


Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 26-03-2021 12:21:00
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