SENS Announcements

Distribution of Circular and Notice Of General Meeting

African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
("AEEI" or “the Company”)

DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING

1. INTRODUCTION

1.1. Shareholders are referred to the Company’s SENS announcement dated
20 October 2016, advising that AEEI’s board of directors has approved
a proposal to list its subsidiary, AYO Technology Solutions Limited
(“AYO Technology”), on the JSE, subject to market conditions
(“Listing”).

1.2. As a condition to the Listing and in order to provide AYO Technology
with additional capital to fund its further expansion, it is proposed
that AYO Technology 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 51% of the issued share
capital of AYO Technology (“Share Issue”). AEEI’s shareholding in
AYO Technology will, as a result of the Share Issue, reduce from
80.03% to not less than 49%. The Listing remains subject to the
approval of the JSE.

1.3. The Share Issue by AYO Technology will constitute a category 1
disposal by AEEI in terms of the JSE Listings Requirements and,
accordingly, requires the approval of AEEI shareholders. AEEI will,
today, distribute 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 2nd Floor, Building 3, 11 Alice Lane,
Sandhurst, Sandton.

3. NOTICE OF GENERAL MEETING

Notice is hereby given that the General Meeting of shareholders will
be held at 10:00 on Friday, 8 December 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
10 November 2017

Transaction advisor and sponsor
PSG CAPITAL

Attorneys
WEBBER WENTZEL

Auditor and Independent reporting accounts
GRANT THORNTON

Corporate advisory
AEEI CORPORATE FINANCE

Date: 10/11/2017 02:15:00
Supplied by www.sharenet.co.za
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