Aveng related party clarification

Monday 25th August, 2014
Aveng shareholders are referred to the announcement on SENS, dated 18 August 2014 (the \"Announcement\"), in which Aveng announced the posting of a circular to shareholders, including a notice of general meeting (the \"Circular\"), to propose a resolution to grant the Aveng board a specific authority to issue shares for cash (the \"Resolution\") in order to convert the ZAR2 billion 7.25% senior unsecured convertible bonds, issued by Aveng, as announced on SENS on 16 July 2014 (the \"Convertible Bonds\").

Related party clarification
Both the Announcement and the Circular incorrectly describe Allan Gray as a \"related party\" in terms of the JSE Listings Requirements by claiming that it holds, directly or indirectly, more than a 10% beneficial interest in Aveng\"s ordinary shares at the commencement of the bookbuilding process for the Convertible Bonds.

It has since been brought to Aveng\"s attention that Allan Gray is neither a \"related party\" nor a \"material shareholder\" in terms of the JSE Listings Requirements as it is not entitled to exercise or control the exercise of 10% or more of the votes attached to Aveng\"s shares held by its clients nor has it been in such a position at any time during the past twelve months.

Accordingly, the JSE has ruled that any Allan Gray client or entity that did not participate in the Convertible Bonds is entitled to be present at the general meeting and to vote on the Resolution.

Voting Restriction
As per Section 5.51 (g) of the Listings Requirements, any Allan Gray client or entity or for that matter any other shareholder which is a holder of Convertible Bonds from the period commencing on the last day to trade date up to and including the date of the general meeting is not entitled to vote on the Resolution.