Aveng : update and renewal of cautionary

Shareholders are referred to the detailed SENS announcement on 11 October 2016, and the pro forma financial effects and cautionary announcement on SENS dated 22 November 2016 relating to the introduction of an economic empowerment partner into the Grinaker-LTA business ('the Transaction').

Shareholders are advised that due to continuing negotiations between Aveng (Africa) (Pty) Ltd. ('Aveng Africa') and Kutana Construction (Pty) Ltd. regarding the inclusion, or otherwise, of certain water business related contracts within the Transaction, which in turn may lead to the inclusion of Aveng Africa's interest in Aveng Water (Pty) Ltd. within the originally announced Transaction, the Company applied to the JSE Ltd. for dispensation from the requirement, set out in paragraph 10.9 of the JSE Listings Requirements, for the necessary circular to be posted to shareholders within 60 days of the terms announcement being published on SENS. On 13 December 2016, the JSE granted such dispensation and the period for the posting of the circular was extended to 28 February 2017.

Further cautionary

Aveng Africa is still in negotiations in relation to the sale of the Aveng Trident Steel business unit and shareholders will receive a further update in this regard in due course. Shareholders are advised to continue exercising caution when dealing in Aveng Ltd. securities until a further announcement is published.