AFRICAN & OVERSEAS ENTERPRISES LIMITED - Acquisition of a 11.29% stake in Telemedia Proprietary Limited - further update announcement

Acquisition of a 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 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 26 August 2021.

2. The Company advises that the Agreement was amended in writing on 28 January 2022, in respect of the
   following:
   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 30 June 2022.

The Condition Precedent remains outstanding. The implementation of the Transaction remains subject to the
fulfilment of the Condition Precedent.

31 January 2022


Sponsor
Java Capital

Date: 31-01-2022 05:30:00
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