ENL : Communique

ENL LIMITED

COMMUNIQUE

Further to the communiqué dated 11 October 2023, the board of directors (the "Board") of ENL Limited (the "Company") is pleased to inform the shareholders and the public in general that (i) the Listing Executive Committee of the Stock Exchange of Mauritius Ltd (the "SEM") has, on 27 October 2023, approved the offer for subscription and listing of secured fixed rate notes and secured floating rate notes for an aggregate nominal amount of up to MUR 2,500,000,000 (the "Notes") on the Official Market of the SEM, and (ii) the Financial Services Commission has, on 26 October 2023, also approved the registration of the prospectus pertaining to the Notes, deemed to be the listing particulars (the "Prospectus").

A summary of the main terms of the Notes is included in the table below:

Type of Notes	Secured Fixed Rate Notes	Secured Floating Rate Notes
Tranche Reference	ENL-01-FRN-122028	ENL-01-FLN122030			ENL-01-FLN-122038
Tenor	5 years	7 years				15 years
Interest Rate	5 % p.a.	The	aggregate	of		The	aggregate	of
		Reference Rate and	the		Reference Rate	and	the
		applicable Margin			applicable Margin
Reference Rate	N/A	The daily weighted average of the Key Rate or any
		successor index as determined by the Bank of Mauritius
		from time to time, calculated over the Observation
		Period (as defined in the Prospectus), which rate will be
		communicated by the Issuing and Paying Agent to the
		SEM on an Interest Payment Date (as defined in the
		Prospectus)
Margin	N/A	1.25 %				1.75 %
Interest Payment	Quarterly in arrears
Frequency
Security Status	The Notes will be secured by	The Notes will be secured		Initially, the Notes will be
	a first rank mortgage over	by a first rank mortgage		secured by a pledge of a
	certain plots of land	over certain plots of land		certain number of shares
						held	by	Rogers
						Consolidated
						Shareholding	Ltd	in
						Rogers	and	Company
						Limited. On or before 30
						June 2024 the pledge will
						be substituted with a first
						rank	mortgage	over
						certain plots of land

The important dates applicable to the offer for subscription and listing of the Notes are set out in the table below:

Offer Start Date	30 October 2023
Offer End Date	6 December 2023
Payment Date	11 December 2023
Allotment Date	14 December 2023
Issue Date	18 December 2023
Date of Listing	18 December 2023
and First Trading

Prospective investors are reminded that any investment decision in relation to the subscription of the Notes should be based on information made available in the Prospectus. The Prospectus is available on the Company's website at https://www.enl.mu, and can also be inspected at the office of M.C.B Stockbrokers Limited (the Sponsoring Broker), Sir William Newton Street, Port Louis, Mauritius between 9.00 a.m. and 4.00 p.m., on every business day between the Offer Start Date and the Offer End Date.

By order of the Board

ENL Secretarial Services Limited

Company Secretary

27 October 2023

This Communiqué is issued pursuant to the SEM Listing Rule 11.3 and the Securities Act 2005.

The Board accepts full responsibility for the accuracy of the information contained in this Communiqué.