Update on Transaction:
Update on Transaction
ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2001/029771/06)
JSE share code: ENX
ISIN: ZAE000222253
(“enX” or “the Company”)
UPDATE ON TRANSACTION
Further to the approval by enX shareholders on 29 November 2019 of the divestment by enX of its
ownership interest in its Fleet Management and Logistics business to Bidvest Bank Limited (“Bidvest”)
(“the Transaction”), shareholders are advised of the following:
• The long stop date of the Transaction, being the date by which all conditions precedent must
have been fulfilled or waived, has automatically been extended in terms of the Subscription
Agreement by 20 business days with effect from 1 April 2020 to 4th May 2020;
• All financing agreements related to the refinancing of the South African materials handling
business have been concluded. They remain subject only to the Transaction becoming
unconditional and other customary conditions precedent for agreements of this nature; and
• The only material conditions to the Transaction that remains unfulfilled is the approval of the
Transaction by the Prudential Authority established in terms of the Financial Sector Regulation
Act, 2017 as required in terms of section 52 of the Banks Act and the issue of the warranty and
indemnity insurance policy.
Bidvest and enX continue to cooperate in good faith and are using best endeavours to fulfil the
conditions precedent as expeditiously as reasonably possible.
Johannesburg
1 April 2020
Sponsor
The Standard Bank of South Africa Limited
Date: 01-04-2020 09:05:00
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