1.1. Shareholders are referred to the Company’s SENS announcement dated 15 November 2016, advising that AEEI’s board of directors has approved a proposal to list its subsidiary, Premier Food and Fishing (“PFF”), on the JSE, subject to market conditions (“Listing”).
1.2. As a condition to the Listing and in order to provide PFF with additional capital to fund its further expansion, it is proposed that PFF will, on the date of the Listing, issue shares to eligible investors by way of a private placement, such new shares representing, following their issue, up to 49% of the issued share capital of PFF (“Share Issue”). AEEI’s shareholding in PFF will, as a result of the Share Issue, reduce from 100% to not less than 51%, with PFF remaining a subsidiary of AEEI. The Listing remains subject to the approval of the JSE.
1.3. The Share Issue by PFF will constitute a category 1 disposal by AEEI in terms of the JSE Listings Requirements and, accordingly, requires the approval of AEEI shareholders. AEEI has, accordingly, today posted a circular to shareholders, detailing the Share Issue and the manner in which it will be implemented (“Circular”).
2. DISTRIBUTION OF CIRCULAR
2.1. The Circular incorporates a notice convening a general meeting of shareholders (“General Meeting”) in order to consider and, if deemed fit, to approve the Share Issue.
2.2. The Circular will also be available on the Company’s website at www.aeei.co.za. In addition, copies of the Circular will be available for inspection, in English only, during normal business hours until the date of the General Meeting at the Company’s registered office and at the offices of its sponsor, PSG Capital, at 1st Floor, Ou Kollege, Stellenbosch and 1st Floor, Building 8, Inanda Greens Business Park, 54 Wierda Road West, Wierda Valley, Sandton.
3. NOTICE OF GENERAL MEETING
Notice is hereby given that the General Meeting of shareholders will be held at 10:00 on Tuesday, 24 January 2017 at AEEI’s head office, at Premier Fishing, Quay 7, Breakwater Boulevard, East Pier, Victoria & Alfred Waterfront, Cape Town, at which meeting shareholders will be requested to consider and, if deemed fit, to pass the resolutions set out in the notice of General Meeting, as included in the Circular. Cape Town
22 December 2016
Cape Town, 07 December 2016 – Celebrating an exceptional year of performance, empowerment and governance awards, Khalid Abdulla, Group CEO of African Equity Empowerment Investments Limited (AEEI), was treated by The Johannesburg Stock Exchange (JSE) to the sound of its mystical Kudu horn, as he officially opened the markets this morning.
The blowing of the horn (ringing of the bell) has become somewhat of a tradition, although usually reserved for companies that are being listed on the stock exchange. However, Abdulla and AEEI were accorded the honour by virtue of the fact that the company has shown consistent financial growth over several years, with a particularly impressive trading period in the past 12 months and recognised by its peers with several top awards and consistent financial performance.
As testament to its forward thinking approach, its high standards and its ability to deliver results, AEEI was recently recognised by Empowerdex in its annual benchmark of JSE Listed companies as the Most Empowered Company, the Most Empowered Management Control, listed by the Financial Mail as a Top 10 Performer on the JSE for financial performance and was also ranked by IRAS as the Top Performer for the highest SDTI for governance in the Sector: Financial Services – Other.
Accolades for its proficiency are well deserved. It has increased its current market cap to almost R2 billion from R500 million over the past three years, posted consistent above market year-on-year growth, with a record 53% increase in operating profit, and its Net Asset Value (NAV) increasing by 21% for the year to end August 2016. This is made all the more remarkable when considering the tough economic conditions of the times.
Following its ‘Vision 2020 Vision’ strategy which continues to have a positive impact on the growth progression and operational efficiency of all five divisions of this diversified Investment Company. Consistent performance, coupled with increased brand awareness and recognition, its acquisitions and the value it unlocks in its operations as well as strategic investments (like Saab Grintek Defence, British Telecommunication Services South Africa (Pty) Ltd Pioneer Foods Group Limited and asset management company, Sygnia Limited) is attracting investor interest and growing confidence. The company has also created significant stakeholder value.
As one of South Africa’s leading and most successful black empowered listed companies, Abdulla and his colleagues put their sustained growth, financial success and expanding influence down to a few simple principles; The ability to embrace differences – whether it is experience, outlook or knowledge – observe and truly listen to what is going on around them, not just in business but on the ground, in
Communities they come from, and ultimately represent, as well as AEEI’s non-judgemental but open-minded approach to business and putting stakeholders first.
This perceptive approach is represented in, and delivered on, by AEEI’s holistic ‘Vision 2020 Vision’ strategy. It is underpinned by the holistic professional capabilities of the management team driven and led by Mr Khalid Abdulla and the organisation’s belief in empowering its staff and one of the key reasons why Abdulla has the honour of opening the Johannesburg Stock Exchange.
Thanking the JSE for awarding AEEI the opportunity, Abdulla said: “This is for each member of the incredible AEEI team (management and staff) who all deserve the recognition and without whom we would not be here today. We are excited about what tomorrow holds.” With that, Abdulla took a deep breath and sounded the future.
As several other additional acquisitions in the new 2017 financial year have already been announced – Puleng Technologies and the most recent being the stake it has taken in Headset Solutions – the predicted listing of its food and fishing, and technology businesses, it may well be sooner, rather than later, that Abdulla’s horn blowing talent is once more tested.
The top 4 awards again at the end of release:
- Top financial performance
- Top empowered company
- Top empowered management and management controlled company
- Top award for corporate governance
Should you wish to interview Mr Khalid Abdulla, please contact:
Communications and Marketing
Cape Town, 30 November 2016 – It has been a bumper year of awards for JSE-listed African Equity Empowerment Investments Limited (AEEI), a diversified investment and empowerment company as it receives a 5th performance award for the year at an event held in Sandton on 30 November 2016.
Today the company was awarded Top in the Sector: Financial Services – Other, with a score of 83.52%. This award is for the Highest Sustainability Data Transparency Index (SDTI) for reporting and governance by Integrated Reporting Assurance Services (IRAS). This is a significant movement upwards for any company.
AEEI was also awarded 3rd overall out of a total of 311 companies of which 297 are JSE-listed companies and 14 State-owned enterprises.
Ms Cherie Hendricks, Director of Corporate Affairs and Sustainability at AEEI, responsible for the preparation of the Integrated Reports said, “On behalf of AEEI, I am delighted to be receiving this award. For many years we have worked tirelessly to provide our stakeholders with the information they require in order to make informed decisions. Our Integrated Report in terms of our Sustainability Reporting which includes financial statements which upholds the highest standard of governance.”
During 2013, AEEI was rated 182nd overall, in 2014, the company was rated 16th overall and Top in the Financial Services sector and during 2015, the company was also ranked 10th overall and 2nd in the Financial Services sector. This is indicative of the general manner in which AEEI has improved its reporting systems.
AEEI is driven by its core values and strong commitment to social, environmental and economic changes, as well as with a great emphasis on marginalised groups. The company also acknowledges its responsibility to all employees and the public for compliance with environmental standards. It has established policies, identified standards and determined regulatory requirements.
AEEI’s Chief Executive Officer, Mr Khalid Abdulla said with great delight, “We are honoured to be receiving this award, which confirms that our business model is on a firm holistic and sustainable growth path as we continue to add value for our stakeholders, with a very high standard of financial performances and governance in a testing economic climate.”
As testament to its forward thinking approach and its ability to deliver, AEEI is committed to building a sustainable business into the future. The Company was recently recognised by Empowerdex in its annual benchmark of JSE Listed companies as the Most Empowered Company, the Most Empowered Management Control, and was also listed by the Financial Mail as a Top 10 Performer on the JSE for financial performance.
African Equity Empowerment Investments Limited (“AEEI or “The Company” or “The Group”) is a majority black-owned and black-managed investment holding Company based in South Africa.
The Group has investments in food and fishing, technology, health and biotherapeutics, events and tourism, all supporting Broad-based Black Economic Empowerment (BBBEE) and small, medium and micro- enterprises (SMMEs). The Group also holds strategic investments in British Telecoms South Africa, Saab Grintek Defence, Pioneer Foods and Sygnia Limited, some with international partners.
Our growth strategy is underpinned by our diverse portfolio and is reflected in our results. This growth strategy has laid a strong foundation for the next phase of the AEEI’s Group’s evolution which is reflected in achievements in terms of Vision 2020 Vision.
AEEI’s primary market remains in South Africa; however, we continue to expand into the rest of Africa. Outside of South Africa we have a market presence in Asia, America, Africa, Europe, Dubai, United Kingdom, Zambia, Ghana, Uganda, Cameroon, Australia, Zimbabwe, Tanzania, Nigeria, Kenya and Namibia through our subsidiaries.
Should you wish to set up an interview with Mr Khalid Abdulla or Ms Cherie Hendricks, contact:
Feroza Petersen | Communications & Marketing manager
Tel: + 27 21 427 1400
Mobile: +27 82 801 3919