AVENG : Postponement of the publication of annual results renewal of cautionary and further cautionary announcement

AEG 201708180007A

Postponement of the publication of annual results, renewal of cautionary and further cautionary announcement

AVENG LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1944/018119/06)

ISIN: ZAE000111829 -

SHARE CODE: AEG

('Aveng', 'the Company' or 'the Group')

POSTPONEMENT OF THE PUBLICATION OF ANNUAL RESULTS, RENEWAL OF CAUTIONARY

AND FURTHER CAUTIONARY ANNOUNCEMENT

The cautionary announcement dated 31 July 2017, relating to the review of long outstanding

uncertified revenue, is renewed and holders of Aveng securities are advised to exercise caution in

respect of this matter when dealing in Aveng securities until a further announcement is made.

The proceeds of AUD50m relating to the QCLNG award has now been received.

Following the recently announced QCLNG award at a lower than anticipated value, the Group is

considering the impact of the associated write down of AUD235m, together with the likely impact of

the review of the uncertified revenue, this may have on its financial statements.

Consequently, Aveng has engaged with its major funding banks in relation to the extension of its

existing facilities, and these discussions are continuing. The major funding banks have indicated they

remain supportive of the Group.

As a result, holders of Aveng securities are advised to exercise caution in respect of this matter when

dealing in Aveng securities until a further announcement is made.

The Board has therefore decided to postpone the publication date of its annual results from 22 August

2017 to 28 September 2017.

JSE Sponsor

UBS South Africa Proprietary Limited

18 August 2017

Jet Park

Michael Canterbury

Group Executive: Strategy & Investor Relations

Tel: 011 779 2979

Email: michael.canterbury@avenggroup.com

FORWARD-LOOKING STATEMENTS

This announcement includes forward-looking statements that reflect the current views and

expectations of the Board with respect to future events and financial and operational performance. All

statements, other than statements of historical fact are, or may be deemed to be, forward-looking

statements, including, without limitation, those concerning the Group's strategy; the economic outlook

for the industry; and the Group's liquidity and capital resources and expenditure.

These forward-looking statements speak only as of the date of this announcement and are not based

on historical facts, but rather reflect the Group's current expectations concerning future results and

events. The Group undertakes no obligation to update publicly or release any revisions to these

forward-looking statements to reflect events or circumstances after the date of this announcement.

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