AEG 201612220016A

Disposal of certain of Aveng Capital Partner's Assets

AVENG LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1944/018119/06)

ISIN: ZAE000111829

SHARE CODE: AEG

('Aveng' or 'the Group')

Disposal of certain of Aveng Capital Partner's Assets

Further to the SENS issued on 1 December 2016, with

respect to the disposal of certain of the Aveng Capital

Partner's assets, being the equity interests and loans in

the specific project companies ('the Transaction'). The

Transaction constitutes a Category 1 transaction in terms

of the Listings Requirements of the JSE Limited.

In the Share Sale Agreement entered into between Celanex

(Pty) Ltd, Royal Bafokeng Holdings (Pty) Ltd, Aveng

(Africa) (Pty) Ltd and Steelmetals (Pty) Ltd, the parties

agreed to a longstop date of 30 November 2016, by which

the conditions precedent to the transaction would be

fulfilled. The parties executed an addendum to the Share

Sale Agreement extending the longstop date to 23 December

2016. Subsequent to the extension of the longstop date

the following was achieved:

- Aveng successfully disposed of Steelmetals N3TC

Equity Interest for a purchase price of R195 million

and funds flowed on 12 December 2016;

- Aveng received the consent of the Department of

Energy to dispose of the Windfall Equity Interest

and the Blue Falcon Equity Interest, which has

resulted in one of the major conditions precedent to

the disposal being fulfilled.

However, as certain of the conditions precedent with

respect to the Windfall Equity Interest, the Blue Falcon

Equity Interest and the Imvelo Equity Interest have still

not been fulfilled, the parties have agreed to execute a

second addendum to the Share Sale Agreement, further

extending the longstop date to 31 January 2017, being the

date by which the parties expect all outstanding required

consents and approvals for the sale of the Windfall

Equity Interest and the Blue Falcon Equity Interest to be

in place.

Jet Park

22 December 2016

Sponsor:

J.P. Morgan Equities South Africa (Pty) Ltd

Date: 22/12/2016 11:41:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of

the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,

indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,

information disseminated through SENS.

Aveng Ltd. published this content on 22 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 December 2016 10:08:07 UTC.

Original documenthttp://www.aveng.co.za/news-media/sens/aveng-limited-disposal-certain-aveng-capital-partners-assets

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