Update on Lawtrust Acquisition
Update on Lawtrust Acquisition ALLIED ELECTRONICS CORPORATION LIMITED (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 (“Altron” or “Altron Group” or “the Company”) UPDATE ON LAWTRUST ACQUISITION Shareholders are referred to the announcement published on 20 April 2021 wherein the Company notified shareholders of a Category 2 acquisition of 100% of the issued shares in Law Trusted Third Party Services Proprietary Limited (“Lawtrust”) from Etion Limited, a South African public company listed on the Johannesburg Stock Exchange with Registration Number 1987/001222/06 (“Etion”). A wholly owned subsidiary of the Altron Group, namely Altron TMTSA Group Proprietary Limited (“Altron TMTSA”) entered into an agreement (“Agreement”) with Etion, in terms of which Etion will sell and Altron TMTSA undertook to acquire 100% of the issued share capital of Lawtrust. The transaction was subject to the fulfilment or waiver of conditions precedent (“Conditions Precedent”) by no later than 15 July 2021, or such date as may be agreed in writing by the parties (collectively: Altron TMTSA; Etion and Lawtrust). By way of update on the Category 2 acquisition transaction, shareholders are advised that not all of the Conditions Precedent have been fulfilled and the parties (collectively: Altron TMTSA; Etion and Lawtrust), have agreed to extend the date for the fulfilment or waiver of Conditions Precedent to 31 August 2021, through the conclusion of an addendum to the Agreement. Johannesburg 14 July 2021 Sponsor: Investec Bank Limited Date: 14-07-2021 03:00:00 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.