Acquisition of an 11.29% stake in Telemedia Proprietary Limited - further update announcement
AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO ISIN: ZAE000000485
JSE share code: AON ISIN: ZAE000009718
JSE share code: AOVP ISIN: ZAE000000493
("AOE" or "Company")
ACQUISITION OF A 11.29% STAKE IN TELEMEDIA PROPRIETARY LIMITED – FURTHER UPDATE ANNOUNCEMENT
1. Shareholders are referred to the announcement released on the Stock Exchange News Service ("SENS")
on 13 November 2020 (the "13 November 2020 announcement") regarding the sale of shares agreement
that AOE, together with Rex Trueform Group Limited, had entered into with the Trustees for the time
being of the Bretherick Family Trust, Peter Fairbank Bretherick, Ryan David Bretherick, and Stephen
Mark Bretherick in terms of which AOE would acquire a 11.29% stake in Telemedia Proprietary Limited
(the "Transaction"), together with the update in this regard released on SENS on 10 May 2021.
2. The Company advises that the Agreement was amended in writing on 25 August 2021, in respect of the
2.1. The condition precedent requiring the Independent Communications Authority of South Africa
to provide its written consent to the Transaction (the "Condition Precedent") by an extended
date of no later than 29 January 2022.
2.2. The definition of "Effective Date" of the Transaction which will now read as follows:
"Effective Date" means the 1st (first) day of the calendar month following the Unconditional
Date, or 1 November 2021, whichever occurs last, or such later date thereafter which is as soon
as reasonably possible after the issue of the Consideration Shares and as agreed to in writing
between the parties.”
The Condition Precedent remains outstanding. The implementation of the Transaction remains subject to the
fulfilment of the Condition Precedent.
26 August 2021
Date: 26-08-2021 05:00:00
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.