enX Group Limited (JSE:ENX) News - Potential distribution of R1.50 per share to enX shareholders, posting of circular and notice of general meeting

ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX” or “the Company”)


POTENTIAL DISTRIBUTION OF R1.50 PER SHARE TO ENX SHAREHOLDERS, POSTING OF
CIRCULAR AND NOTICE OF GENERAL MEETING


1.    Posting of circular

      Shareholders are referred to previous announcements released on SENS regarding the divestment of EIE Group
      Proprietary Limited, the holding company of enX’s Southern African materials handling business (“EIE
      Group”), for an aggregate consideration of R700 million (the “disposal”), the last of which was published on
      30 November 2021.

      Shareholders are advised that enX has, on Wednesday, 15 December 2021, issued a circular (the “circular”) to
      its shareholders relating to the disposal. Due to the COVID-19 pandemic and the resultant lockdown regulations,
      hard copies of this circular will not be available at the registered address of the Company. The circular will only
      be available on enX’s website (www.enxgroup.co.za/circulars_/).

2.    Potential distribution to enX shareholders

      As disclosed in paragraph 4 of the circular, enX expects the final disposal consideration, determined before tax
      and transaction costs and after leakage, to be approximately R677 million (the “final consideration”).

      The enX board is considering the possibility of paying out c.R272 million of the final consideration as a
      distribution to enX shareholders of R1.50 per share (the “potential distribution”). The mechanism of the
      potential distribution has not yet been determined and the timing thereof will be dependent on the closing date of
      the disposal. Further details on the potential distribution will be announced in due course.

3.    Notice of general meeting

      A general meeting of shareholders will be held at 10:00 on Thursday, 20 January 2022 at 9th Floor, Katherine
      Towers, 1 Park Lane, Wierda Valley, Sandton, 2196, convened for the purpose of considering, and if deemed fit
      passing, with or without modification, the resolutions set out in the notice of general meeting which is attached
      to and forms part of the circular (the “general meeting”).

      In light of the guidance from the South African Government regarding the need for social distancing, as a result
      of the COVID-19 pandemic, shareholders are encouraged to make use of proxies for purposes of voting at the
      general meeting.

      In the event of future regulations or directives or preventative measures relating to COVID-19, shareholders or
      their proxies may be prevented from attending the general meeting in person. In such circumstances, enX may
      determine, by way of notice to shareholders published on SENS and in the South African press by no later than
      10 (ten) business days prior to the general meeting, that the general meeting will take place entirely by electronic
      means and/or that shareholders or their proxies will be entitled to vote electronically, which notice will include
      details and instructions of such arrangement.

4.    Salient dates and times

                                                                                                                 2021

       Record date to receive the circular and notice of general meeting                          Friday, 10 December

       Circular and notice of general meeting issued                                           Wednesday, 15 December
          
       Announcement relating to the issue of the circular and notice of general                Wednesday, 15 December
       meeting released on SENS

                                                                                                                 2022

       Last day to trade in order to be eligible to participate in and vote at the                Tuesday, 11 January
       general meeting

       Voting record date                                                                          Friday, 14 January

       Last day to lodge forms of proxy for the general meeting with the transfer                 Tuesday, 18 January
       secretaries, by 10:00 (forms of proxy not lodged with the transfer
       secretaries in time may be handed to the chairperson of the general meeting
       immediately before the commencement thereof)

       General meeting held at 10:00 on                                                          Thursday, 20 January

       Results of the general meeting released on SENS                                           Thursday, 20 January


       Notes:
       1.       All dates and times in this announcement are local dates and times in South Africa and are subject to
                change. Any changes will be released on SENS.
       2.       enX shareholders are referred to page 2 of the circular for information on the action required to be taken
                by them.
       3.       enX shareholders should note that as transactions in shares are settled in the electronic settlement system
                used by Strate, settlement of trades takes place three business days after such trades. Therefore, enX
                shareholders who acquire enX shares after close of trade on Tuesday, 11 January 2022 will not be eligible
                to vote at the general meeting.
       4.       No dematerialisation and rematerialisation of enX shares may take place between Wednesday, 12 January 2022
                and Friday, 14 January 2022, both days inclusive.

15 December 2021


Transaction sponsor
Java Capital

Date: 15-12-2021 04:00:00
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