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AEP ENERGY AFRICA LIMITED - Declaration announcement in respect of the return of capital to shareholders

02 December 2019 - 16:47 PM
AEY
Declaration announcement in respect of the return of capital to shareholders

AEP Energy Africa Limited
Incorporated in the Republic of South Africa
(Registration number: 2017/024904/06)
JSE share code: AEY    ISIN: ZAE000241741
(AEP or the Company)


DECLARATION ANNOUNCEMENT IN RESPECT OF THE RETURN OF CAPITAL TO SHAREHOLDERS


Shareholders are referred to the announcement released on SENS on 30 October 2019, in which they
were advised, inter alia, that the Company, being a SPAC unable to complete the acquisition of a Viable
Asset within the Initial Period, is required to comply with paragraph 4.37 of the Listings Requirements.
This states that, following the Intial Period, the SPAC must, inter alia complete a distribution to
shareholders equal to the aggregate amount held in escrow, net of applicable taxes and expenses
related to the distribution and voluntary winding-up of the Company (Capital Distribution).

The Capital Distribution must be the maximum amount possible, while still complying with the
solvency and liquidity test pursuant to the Companies Act, 2008 (Act 71 of 2008), as amended, which
equates to the aggregate amount held in escrow, net of applicable taxes and, expenses related to the
distribution and possible voluntary winding up of AEP.

In accordance with the Listings Requirements, Shareholders are advised that the Board has
determined the quantum of the Capital Distribution to be an amount of 95 cents per AEP share.

The salient dates and times pertaining to the Capital Distribution are set out below.

                                                                                             2019
 Declaration announcement released on SENS on                                  Monday, 2 December
 Last day to trade to be eligible to receive the Capital Distribution        Tuesday, 17 December
 Shares trade ex-Capital Distribution                                      Wednesday, 18 December
 Record date to receive the Capital Distribution                              Friday, 20 December
 Payment date                                                                 Monday, 23 December


Johannesburg
2 December 2019

Designated Advisor
Questco Corporate Advisory Proprietary Limited

Date: 02-12-2019 05:47:00
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