ENX GROUP LIMITED - BIEQS1- Notice to noteholders regarding an announcement released by enX Group Limited in relation to the Transaction
BIEQS1- Notice to noteholders regarding an announcement released by enX Group Limited in relation to the Transaction:
BIEQS1- Notice to noteholders regarding an announcement released by enX Group Limited in relation to the Transaction
enX Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1984/007045/06)
Company code: BIEQS1
(“enX” or “the Issuer”)
NOTICE TO NOTEHOLDERS REGARDING AN ANNOUNCEMENT RELEASED BY ENX GROUP LIMITED IN
RELATION TO THE DIVESTMENT OF EQSTRA FLEET MANAGEMENT AND LOGISTICS
Noteholders are referred to the announcement released by enX Group Limited, a guarantor to the
Issuer’s ZAR 4 000 000 000 Domestic Medium Term Note Programme (“Programme”), (“enX Group”)
on SENS on Tuesday, 5 May 2020, (“Announcement”) in relation to an update on the divestment of
the Eqstra Fleet Management and Logistics business to Bidvest Bank Limited (“Bidvest”) (the
“Transaction”).
The Announcement confirmed that the Transaction was terminated due to the final outstanding
condition precedent, being approval 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, not being fulfilled by
the long stop date of 4 May 2020. enX could not reach agreement with Bidvest to extend the long stop
date to allow sufficient time for the Prudential Authority to complete its process, which was well
advanced.
The Termination of the Transaction has no impact on the current position of Noteholders nor the
Programme. Please refer to the Announcement for further details regarding a business update and
funding and liquidity update of the enX Group.
21 May 2020
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21-05-2020 11:20:00
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