01 Jul - 3 min read

Change Statement and Notice of Annual General Meeting

Change Statement and Notice of Annual General Meeting

EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)

CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING

CHANGE STATEMENT, POSTING OF INTEGRATED ANNUAL REPORT AND NOTICE
OF ANNUAL GENERAL MEETING

Shareholders of the Company (“Shareholders”) are hereby advised that the Company’s
integrated annual report (“Integrated Report”), incorporating the summary audited
consolidated annual financial statements of the Company for the year ended 29 February
2020 (“Summary Annual Financial Statements”) and the notice of the annual general
meeting of the Company (“Notice of AGM”) was dispatched to Shareholders today, 1 July
2021, and contains the following modification to the reviewed results which were announced
on SENS on 31 August 2020 (“Reviewed Results”):

   •   Note 15 of the Reviewed Results contained disclosures relating to the fair value of
       loans and other receivables. The fair value of these financial instruments was
       disclosed as R358.4 million in the Reviewed Results. Subsequently, the fair value of
       loans and other receivables was determined to be R394.4 million as disclosed in the
       Summary Annual Financial Statements in Note 15. This change only impacts the
       disclosures made in the financial statements and does not impact either the
       Statement of Financial Position or the Statement of Comprehensive Income as loans
       and other receivables are accounted for at amortised cost.

The Integrated Report and the full set of Annual Financial Statements will also be available
on the Company’s website, at www.eforaenergy.com as from today, 1 July 2021. The full
auditor’s report includes details of key audit matters. This auditor’s report is available, along
with the full set of annual financial statements, on the Company’s website at
www.eforaenergy.com.

NOTICE OF AGM

Notice is hereby given that the annual general meeting (“AGM”) will be held at 10H00 on
Friday, 30 July 2021 to transact the business as set out in the notice of AGM which forms
part of the Integrated Report. Although the intention is to hold the AGM as scheduled on 30
July 2021 at the set venue, Efora strongly encourages its shareholders not to attend in
person but to exercise their voting rights by way of electronic or written proxy and to submit
their questions relating to the 2020 AGM agenda in advance as outlined in the Notice of
AGM.

The date on which Shareholders must be recorded as such in the share register of the
Company to be eligible to vote at the AGM is Friday, 23 July 2021, with the last day to trade
being Tuesday, 20 July 2021.

Johannesburg
1 July 2021

Sponsor
PSG Capital

For further information please contact:

Efora Energy Limited
Darrin Arendse

+27 (0)10 591 2260

About Efora

Efora Energy Limited is a South African based independent African oil and gas company,
listed on the JSE. The Company has a diverse portfolio of assets spanning production in
Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project
relating to crude trading in Nigeria and material downstream distribution operations throughout
Southern Africa. Our focus as a Group is on delivering energy for the African continent by
using Africa’s own resources to meet the significant growth in demand expected over the next
decade.

Date: 01-07-2021 04:35:00
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