AVENG LIMITED
Incorporated in the Republic of South Africa (Registration number: 1944/018119/06) ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Company")
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the SENS announcement published by the Company on 5 July 2022 and are advised that the Company continues with advanced negotiations for the sale of the Trident Steel business which, if successfully concluded, may have a material effect on the price at which the Company's securities trade.
The value of the transaction is expected to exceed Trident Steel's reported net asset value as per the 2022 Aveng interim results. The proceeds from the transaction will be utilised to settle remaining external debt in South Africa, create further liquidity and strengthen the financial position of Aveng.
Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made.
17 August 2022
Melrose Arch
JSE Sponsor
Investec Bank Limited
Itumeleng Lepere
Stakeholder Engagement Lead
Tel: 011 779 2800
Email:investor.relations@avenggroup.com
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Aveng Ltd. published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 15:13:03 UTC.