Update on Lawtrust acquisition
Update on Lawtrust acquisition ALTRON 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 and further announcement published on 14 July 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 Acquisition”). By way of update on the Category 2 acquisition transaction, shareholders are advised that the Acquisition has received an affirmative recommendation from the Competition Commission. The parties are awaiting final approval from the Competition Tribunal, which approval is anticipated to contain certain conditions. The Acquisition will only become unconditional once the Competition Tribunal approves same, which approval is expected by the middle of September 2021 with an anticipated Effective Date of 1 October 2021. Accordingly, Etion and Altron have signed a further addendum to the Agreement, wherein, inter alia, the period in which the conditions precedent must be fulfilled has been extended to 30 September 2021. Johannesburg 1 September 2021 Sponsor: Investec Bank Limited Date: 01-09-2021 11:00:00 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.