AECI Limited Specific Repurchase of Shares

 
TIDM87FZ 
 
AECI LIMITED 
(Incorporated in the Republic of South Africa) 
(Registration number 1924/002590/06) 
Share code: AFE ISIN: ZAE000000220 
Hybrid code: AFEP ISIN: ZAE000000238 
Bond company code: AECI 
LEI: 3789008641F1D3D90E85 
(AECI or the Company) 
 
SPECIFIC REPURCHASE OF SHARES 
 
1. INTRODUCTION 
 
Shareholders are advised that, in accordance with the specific authority 
granted by shareholders at the Company's General Meeting held on 25 January 
2012, AECI has repurchased 4 426 604 AECI ordinary shares of 100 cents each 
(Repurchased Shares) from the AECI Community Education and Development Trust 
(the CST) for no consideration (the Specific Repurchase). This represents 4,02% 
of the total number of shares in issue before the Specific Repurchase was 
effected. 
 
The Specific Repurchase was effected pursuant to the Broad-based Black Economic 
Empowerment transaction which AECI implemented in January 2012 (B-BBEE 
Transaction). One component of the B-BBEE Transaction was the establishment of 
the CST which subscribed for and was issued 4 426 604 AECI ordinary shares of 
100 cents each (Subscription Shares).  The subscription by the CST for the 
Subscription Shares was partly funded by a capital contribution from the 
Company, with the difference between the market value of the Subscription 
Shares and the capital contribution being funded by way of a notional loan from 
the Company.  It was agreed that the notional loan would be settled on 
31 January 2022 through a repurchase and subsequent cancellation of some or all 
of the Subscription Shares held by the CST, for no consideration. 
 
In terms of the B-BBEE Transaction, AECI had an obligation to repurchase all of 
the Subscription Shares held by the CST on 31 January 2022. 
 
The Specific Repurchase has no financial impact on the Group's (being the 
Company and all its subsidiaries) earnings per share, headline earnings per 
share, net asset value per share, net tangible asset value per share, diluted 
earnings per share and diluted headline earnings per share. 
 
The number of treasury shares held by the Company before and after the Specific 
Repurchase is nil. 
 
The Company shall now proceed to apply to the JSE Limited for the delisting of 
the Repurchased Shares. 
 
2. DETAILS OF THE SPECIFIC REPURCHASE 
 
Date of repurchase: 
                                 31 January 2022 
 
Number of shares repurchased: 
 
4 426 604 
 
Value of shares repurchased*: 
                                                                           R504 
322 994,00 
 
Repurchase price per share: 
                            R0,00 
 
*based on the closing price of an AECI ordinary share of R113,93 on 31 January 
2022 
 
Woodmead, Sandton 
 
1 February 2022 
 
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) 
 
 
 
END

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