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CANCELLATION OF S485722 Update Regarding Cybercrime At Subsidiary

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Published: 2024-02-22 10:32:21 ET

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registra9on number 1996/006093/06)
ISIN: ZAE000195731
Share code: AEE
("AEEI" or “the Company”)


UPDATE REGARDING CYBERCRIME AT SUBSIDIARY


Shareholders are referred to the Reviewed Condensed Consolidated Annual Financial Results for the
year ended 31 August 2023 released on SENS on 13 December 2023 and are hereby provided with an
update to the alleged cybercrime incident involving one of AEEI’s subsidiaries as referred to in the
paragraph en9tled ‘Events aSer the repor9ng date’.

On or about 15 November 2023, Premier Fishing and Brands Limited (“Premier Fishing”), a 56.23%
owned subsidiary of AEEI, was the subject of a fraud that resulted in the transfer of $820,000 from
its bank account to an unknown third party. In response, Premier Fishing opened a criminal case with
the South African Police Services and ini9ated internal inves9ga9ons. Addi9onally, and following a
thorough inves9ga9on and disciplinary proceedings, the CEO of Premier Fishing was found guilty of
negligence, and appropriate ac9on has been taken in this regard.

Eﬀorts to recover the misappropriated funds are ongoing, and the board of directors of AEEI is
commi`ed to exploring all available avenues for their recovery.

Further updates on this ma`er will be provided as they become available.


Cape Town
16 February 2023

Sponsor to AEEI
Vunani Sponsors

Joint Sponsor to AEEI
Merchantec Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.