Enhanced Investments - Financial Portal

Dealing in securities - vesting and settlement under the long-term incentive plan (LTIP)

Published: 2025-05-22 15:22:24 ET

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Company")


DEALING IN SECURITIES BY DIRECTORS, PRESCRIBED OFFICERS AND COMPANY SECRETARY OF
AVENG LIMITED AND DIRECTORS OF MAJOR SUBSIDIARIES - VESTING AND SETTLEMENT UNDER THE
LONG-TERM INCENTIVE PLAN (LTIP)



In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings Requirements”),
shareholders are advised of the following information relating to dealing in securities by directors and prescribed
officers of the Company and directors of major subsidiaries.

Shareholders are referred to the SENS announcements dated 3 July 2023 and 23 May 2022 relating to the
granting and acceptance of the Long-Term Incentive Plan Performance shares (“LTIP”). Shareholders are advised
that LTIP shares have vested following the 30 June 2024 year end, the detail of which is set out below.
The LTIP shares vested automatically and at zero cost and any subsequent disposal for tax purposes (“sale”),
where applicable, occurred in terms of the LTIP. All vesting and delivery of awards occurred off-market and all
disposal transactions occurred on-market following vesting.
Collectively, the LTIP participants below increased their beneficial holding from 2.23% to 2.77%.

Dealing in Securities by Directors of Aveng Limited:
Name of director                               :        Scott Cummins
Company                                        :        Aveng Limited
Position                                       :        Group Chief Executive Officer
Date LTIP granted                              :        29 June 2023
Number of ordinary shares vested               :        541,433 shares
Nature of transaction                          :        Automatic vesting of shares in the Aveng LTIP
Date of vesting                                :        20 May 2025
Nature of interest                             :        Direct beneficial
Following the vesting, Mr Cummins’ beneficial holding increased from 0.92% to 1.34%.

Name of director                                 :      Adrian Macartney
Company                                          :      Aveng Limited
Position                                         :      Group Finance Director and Chief Financial Officer
Date LTIP granted                                :      29 June 2023
Number of ordinary shares vested                 :      266,428 shares
Nature of transaction                            :      Automatic vesting and on-market sale of shares
                                                        to complete the settlement of income tax
Date of vesting                                  :      20 May 2025
Number of shares sold                            :      119,900 shares
Date of transaction                              :      20 May 2025
Weighted average selling price of sale (rounded) :      R6.01
Value of sale transaction                        :      R720,733.68
Lowest price per security                        :      R5.90
Highest price per security                       :      R6.19
Nature of interest                               :      Direct beneficial
Following the vesting, Mr Macartney’s beneficial holding increased from 1.27% to 1.38%.

Dealing in securities by Prescribed Officers of Aveng Limited:
Name of prescribed officer                    :     Steven Collett
Company                                       :     Aveng Limited
Position                                      :     Group Chief Strategy Officer and Chief People Officer
Number of ordinary shares vested              :     32,887 shares
Nature of transaction                            :       Automatic vesting and on-market sale of shares
Date of vesting                                  :       20 May 2025
Number of shares sold                            :       32,887 shares
Date of transaction                              :       20 May 2025
Weighted average selling price of sale           :       R6.01
Value of sale transaction                        :       R197,687.81
Lowest price per security                        :       R5.90
Highest price per security                       :       R6.19
Nature of interest                               :       Direct beneficial
Following the vesting and sale of shares to settle income tax, Mr. Collett’s beneficial holding is now 0.01%.

Name of prescribed officer                        :     James Glastonbury
Company                                           :     Aveng Limited
Position                                          :     Group Chief Engineering and Innovation Officer
Number of ordinary shares vested                  :     31,129 shares
Nature of transaction                             :      Automatic vesting and on-market sale of shares
Date of vesting                                   :      20 May 2025
Number of shares sold                             :      31,129 shares
Date of transaction                               :      20 May 2025
Weighted average selling price of sale (rounded) :       R6.01
Value of sale transaction                         :      R187,120.26
Lowest price per security                         :      R5.90
Highest price per security                        :      R6.19
Nature of interest                                :      Direct beneficial
Following the vesting and sale of shares to settle income tax, Mr. Glastonbury’s beneficial holding is now 0.01%.

Name of prescribed officer                        :     John Meggitt
Company                                           :     Aveng Limited
Position                                          :     Group Chief Commercial Officer
Number of ordinary shares vested                  :     16,663 shares
Nature of transaction                             :      Automatic vesting and on-market sale of shares
Date of vesting                                   :      20 May 2025
Number of shares sold                             :      16,766 shares
Date of transaction                               :      20 May 2025
Weighted average selling price of sale (rounded) :       R6.01
Value of sale transaction                         :      R100,782.49
Lowest price per security                         :      R5.90
Highest price per security                        :      R6.19
Nature of interest                                :      Direct beneficial
Following the vesting and sale of shares to settle income tax, Mr. Meggitt’s beneficial holding is now less than
0.01%.

Dealing in securities by Directors of major subsidiaries of Aveng Limited:
Name of director of major subsidiary              :     Mario Russo
Company                                           :     McConnell Dowell Constructors (Aust) Pty Ltd
Position                                          :     Managing Director: McConnell Dowell Australia
Number of ordinary shares vested                  :     15,480 shares
Nature of transaction                            :      Automatic vesting and on-market sale of shares
Date of vesting                                   :      20 May 2025
Number of shares sold                             :     12,100 shares
Date of transaction                               :      20 May 2025
Weighted average selling price of sale (rounded) :       R6.01
Value of sale transaction                         :      R72,734.59
Lowest price per security                         :      R5.90
Highest price per security                        :      R6.19
Nature of interest                                :      Direct beneficial
Following the vesting and sale of shares to settle income tax, Mr. Russo’s beneficial holding is now 0.01%.
Name of director of major subsidiary             :     Rodney Dixon
Company                                          :     Moolmans South Africa (Pty) Ltd
Position                                         :     Managing Director: Moolmans
Number of ordinary shares vested                 :     260,175 shares
Nature of transaction                            :     Automatic vesting and on-market sale of shares
Date of vesting                                  :      20 May 2025
Number of shares sold                            :     260,175 shares
Date of transaction                              :     20 May 2025
Weighted average selling price of sale (rounded) :      R6.01
Value of sale transaction                        :     R1,563,944.00
Lowest price per security                        :     R5.90
Highest price per security                       :     R6.19
Nature of interest                               :     Direct beneficial
Following the vesting and sale of shares, Mr. Dixon does not have any beneficial holding in Aveng Limited.

Name of director of major subsidiary              :     Michael Clemenger
Company                                           :     McConnell Dowell Constructors (Aust) Pty Ltd
Position                                          :     Managing Director: Built Environs
Number of ordinary shares vested                  :     20,854 shares
Nature of transaction                             :     Automatic vesting and on-market sale of shares
Date of vesting                                   :      20 May 2025
Number of shares sold                             :     20,854 shares
Date of transaction                               :     20 May 2025
Weighted average selling price of sale (rounded) :       R6.01
Value of sale transaction                         :     R125,355.96
Lowest price per security                         :     R5.90
Highest price per security                        :     R6.19
Nature of interest                                :     Direct beneficial
Following the vesting and sale of shares to settle income tax, Mr. Clemenger’s beneficial holding is now 0.01%.


Dealing in securities by Company Secretary:
Name of director of major subsidiary             :     Edinah Mandizha
Company                                          :     Aveng Limited
Position                                         :     Company Secretary
Number of ordinary shares vested                 :     6,996 shares
Nature of transaction                            :     Automatic vesting and on-market sale of shares
Date of vesting                                  :     20 May 2025
Number of shares sold                            :     6,996 shares
Date of transaction                              :     20 May 2025
Weighted average selling price of sale (rounded) :     R6.01
Value of sale transaction                        :     R42,053.82
Lowest price per security                        :     R5.90
Highest price per security                       :     R6.19
Nature of interest                               :     Direct beneficial
Following the vesting and sale of shares, Ms. Mandizha does not have any beneficial holding in Aveng Limited.



The necessary clearance in terms of paragraph 3.66 of the JSE Listings Requirements has been obtained.

22 May 2025
Boksburg

JSE Sponsor
Valeo Capital (Pty) Ltd




Edinah Mandizha
Group Company Secretary
Tel: 011 779 2800
Email: info@avenggroup.com

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.