27 Jul - 3 min read

Volaris Offer: Extension of the Date by which a Scheme Condition must be Fulfilled or Waived

Volaris Offer: Extension of the Date by which a Scheme Condition must be Fulfilled or Waived

ADAPT IT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/017276/06)
Share code: ADI
ISIN: ZAE000113163
(“Adapt IT”)

VOLARIS GROUP INC
(Incorporated in Canada)
(Corporation number: 002277095)
(“Volaris”)


VOLARIS OFFER: EXTENSION OF THE DATE BY WHICH A SCHEME CONDITION MUST BE
FULFILLED OR WAIVED


1. Introduction

   1.1. Shareholders of Adapt IT (“Adapt IT Shareholders”) are referred to the various announcements
        released on SENS relating to the offer by Volaris to acquire control of Adapt IT through the
        acquisition of up to 100% of the issued ordinary shares (excluding treasury shares) of Adapt IT
        from Adapt IT Shareholders for a cash consideration of R7.00 per Adapt IT Share ("Volaris
        Offer").

   1.2. The last announcement relating to the Volaris Offer was released on SENS on Wednesday, 30
        June 2021, and notified Adapt IT Shareholders inter alia that all of the resolutions proposed at the
        general meeting convened to consider the Volaris Offer were passed by the requisite majority of
        Adapt IT Shareholders.

   1.3. Capitalised terms used herein that are not otherwise defined, bear the meanings ascribed to them
        in the combined circular to Adapt IT Shareholders relating to the Volaris Offer and dated 1 June
        2021 ("Combined Circular").

2. Extension of the date for the fulfilment or waiver of a Scheme Condition

   Adapt IT Shareholders are hereby advised that the date for the fulfilment or waiver of the Scheme
   Condition referred to in paragraph 4.3.1.10 of the Combined Circular, relating to the conclusion by the
   executive directors of Adapt IT of service contracts with the Adapt IT group, has been further extended
   from 31 July 2021, to 30 September 2021.

3. Adapt IT Board Responsibility Statement

   The Adapt IT Board accepts responsibility for the information contained in this announcement which
   relates to Adapt IT and confirms that, to the best of its knowledge and belief, the information contained
   in this announcement is true and nothing has been omitted which is likely to affect the importance of
   the information.

4. Volaris Board Responsibility Statement

   The board of directors of Volaris accepts responsibility for the information contained in this
   announcement which relates to Volaris and confirms that, to the best of its knowledge and belief, the
   information contained in this announcement is true and nothing has been omitted which is likely to
   affect the importance of the information.


Johannesburg
27 July 2021

Sponsor
Merchantec Capital

Financial Advisor
The Standard Bank of South Africa Limited

Legal Advisor
Webber Wentzel

Transaction Advisor to Volaris
PSG Capital

Legal Advisor to Volaris
Cliffe Dekker Hofmeyr

Date: 27-07-2021 12:45:00
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