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Declaration announcement relating to the proposed amendments to the Memorandum of Incorporation
ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
("the Company" or "Ecsponent")
CURRENT PREFERENCE SHARES LISTED AS DEBT INSTRUMENTS NEW PREFERENCE SHARES TO BE
LISTED AS HYBRID INSTRUMENTS
Class A Preference Series JSE Code ISIN New JSE New ISIN
Shares Number Code (1) (2)
Ecsponent Pref Share A2 2 ECSP4 ZAE000202495
Ecsponent Pref Share A3 3 ECSP7 ZAE000210480 ECSA ZAE000287082
Ecsponent Pref Share A4 4 ECSP10 ZAE000217196
Ecsponent Pref Share A5 5 ECSP13 ZAE000244844
Class B Preference Series JSE Code ISIN
Shares Number
Ecsponent Pref Share B2 2 ECSP5 ZAE000202503 ECSB2 ZAE000287090
Ecsponent Pref Share B3 3 ECSP8 ZAE000210498 ECSB3 ZAE000287108
Ecsponent Pref Share B4 4 ECSP11 ZAE000214441 ECSB4 ZAE000287116
Ecsponent Pref Share B5 5 ECSP14 ZAE000221362 ECSB5 ZAE000287124
Ecsponent Pref Share B6 6 ECSP17 ZAE000229878 ECSB6 ZAE000287132
Ecsponent Pref Share B7 7 ECSP20 ZAE000241717 ECSB7 ZAE000287140
Ecsponent Pref Share B8 8 ECSP23 ZAE000246112 ECSB8 ZAE000287157
Ecsponent Pref Share B9 9 ECSB9 ZAE000250049 No change No change
Ecsponent Pref Share B10 10 ECSB10 ZAE000255675 No change No change
Ecsponent Pref Share B11 11 ECSB11 ZAE000258844 No change No change
Ecsponent Pref Share B12 12 ECSB12 ZAE000263257 No change No change
Ecsponent Pref Share B13 13 ECSB13 ZAE000268371 No change No change
Ecsponent Pref Share B14 14 ECSB14 ZAE000273157 No change No change
Ecsponent Pref Share B15 15 ECSB15 ZAE000280939 No change No change
Class C Preference JSE Code ISIN
Shares
Ecsponent Pref Share C2 2 ECSP6 ZAE000202511
Ecsponent Pref Share C3 3 ECSP9 ZAE000210506
Ecsponent Pref Share C4 4 ECSP12 ZAE000218525
Ecsponent Pref Share C5 5 ECSP15 ZAE000222501 ECSC ZAE000287165
Ecsponent Pref Share C6 6 ECSP18 ZAE000231205
Ecsponent Pref Share C7 7 ECSP21 ZAE000241725
Ecsponent Pref Share C8 8 ECSP24 ZAE000246757
Class D Preference JSE Code ISIN
Shares
Ecsponent Pref Share D1 1 ECSD1 ZAE000250148
Ecsponent Pref Share D2 2 ECSD2 ZAE000254389
Ecsponent Pref Share D3 3 ECSD3 ZAE000258851
Ecsponent Pref Share D4 4 ECSD4 ZAE000263265 ECSD ZAE000287173
Ecsponent Pref Share D5 5 ECSD5 ZAE000268389
Ecsponent Pref Share D6 6 ECSD6 ZAE000273140
Ecsponent Pref Share D7 7 ECSD7 ZAE000277620
Ecsponent Pref Share D8 8 ECSD8 ZAE000280291
Class E Preference JSE Code ISIN
Shares
Ecsponent Pref Share E1 1 ECSE1 ZAE000250155
Ecsponent Pref Share E2 2 ECSE2 ZAE000254397
Ecsponent Pref Share E3 3 ECSE3 ZAE000258869
Ecsponent Pref Share E4 4 ECSE4 ZAE000263281 ECSE ZAE000287181
Ecsponent Pref Share E5 5 ECSE5 ZAE000268363
Ecsponent Pref Share E6 6 ECSE6 ZAE000273132
Ecsponent Pref Share E7 7 ECSE7 ZAE000280947
Class G Preference JSE Code ISIN
Shares
Ecsponent Pref Share G1 1 ECSG1 ZAE000250163
Ecsponent Pref Share G2 2 ECSG2 ZAE000258877 ECSG ZAE000287199
Ecsponent Pref Share G3 3 ECSG3 ZAE000263307
Ecsponent Pref Share G4 4 ECSG4 ZAE000273124
(collectively “Current Preference Shares”) (“Amended Preference Shares”)
DECLARATION ANNOUNCEMENT RELATING TO THE PROPOSED AMENDMENTS TO THE MEMORANDUM OF
INCORPORATION WHICH MAY RESULT IN CHANGES TO THE STATUS AND LISTING OF THE CURRENT
PREFERENCE SHARES AND/OR THE CONVERSION OF THE CURRENT PREFERENCE SHARES TO NEW ORDINARY
SHARES
Reference is made to the announcement released on SENS on 28 April 2020 advising ordinary and preference shareholders
(collectively “Security Holders”) that a circular (“Circular”) had been distributed to the Company’s Security Holders, setting
out details relating to the proposed amendments to the Company’s Memorandum of Incorporation (“MOI Amendments”) and
containing notices of general meetings to be held on 27 May 2020 (“General Meetings”).
As detailed in the Circular, if:
a) the MOI Amendments are approved by the requisite majority of Security Holders, the terms applicable to the current Class
A, B, C, D, E and G Preference Shares (“Current Preference Shares”) will be amended such that the amended preference
shares (“Amended Preference Shares”) will no longer classify as Debt Instruments, but will classify as Hybrid
Instruments in terms of the JSE Listings Requirements. The Amended Preference Shares will be removed from Debt
Instruments and transferred to Hybrid Instruments on the JSE List (“Transfer”), as detailed in timetable 1. It should be
noted that the various classes of the Amended Preference Shares, other than Class B preference shares, will be condensed
and itemised under new share codes and ISINs as set out in columns A and B of the above schedule; or
b) the MOI Amendments are not approved by the requisite majority of Security Holders, the relevant Current Preference
Shares held by those preference shareholders who did not approve the MOI Amendments will be converted to ordinary
shares (“New Ordinary Shares”), as detailed in timetable 2, in accordance with the terms of the Current Preference
Shares (“Default Conversion”).
Timetable 1: Salient dates and times relevant to the Transfer:
2020
Special resolution relating to the MOI Amendments filed with CIPC for registration Wednesday, 27 May
Finalisation announcement to be released on SENS (note 1) Wednesday, 27 May
Finalisation announcement to be published in the press Thursday, 28 May
Last day to trade prior to the Transfer becoming effective Tuesday, 2 June
Suspension of trading in the Current Preference Shares as Debt Instruments Wednesday, 3 June
Commencement of trading in the Amended Preference Shares as Hybrid Instruments on Wednesday, 3 June
the JSE List (refer paragraph (a) above)
Record date for the Transfer (“Record Date”) Friday, 5 June
Current Preference Shares removed from the JSE List at commencement of trade Monday, 8 June
Accounts of current dematerialised preference shareholders with their CSDPs or Brokers Monday, 8 June
will be updated, as applicable, with the Amended Preference Shares
New share certificates relative to the Amended Preference Shares issued to current Monday, 8 June
certificated preference shareholders, posted by registered post, at their risk
Timetable 2: Salient dates and times relevant to the Default Conversion:
2020
Special resolution relating to the MOI Amendments filed with CIPC for registration Wednesday, 27 May
Finalisation announcement to be released on SENS (note 1) Wednesday, 27 May
Finalisation announcement to be published in the press Thursday, 28 May
Last day to trade prior to the Default Conversion becoming effective Tuesday, 2 June
Suspension in trading in the Current Preference Shares Wednesday, 3 June
Commencement of trading in the New Ordinary Shares Wednesday, 3 June
Record date for the Default Conversion (“Record Date”) Friday, 5 June
Current Preference Shares removed from the JSE List at commencement of trade Monday, 8 June
Accounts of current dematerialised preference shareholders with their CSDPs or Brokers Monday, 8 June
will be updated, as applicable, with the New Ordinary Shares
Share certificates relative to the New Ordinary Shares issued pursuant to the Default Monday, 8 June
Conversion to relevant certificated preference shareholders, posted by registered post, at
their risk
Notes to timetables:
1. Having regard to the first date of default by the Company, and therefore the expected date of the Default Conversion
of certain classes of preferences shares, the finalisation date will occur 7 days prior to the Record Date and the
Finalisation Announcement will be released on SENS after 11:00.
2. Preference shareholders may not dematerialise or rematerialise their Current Preference Shares between Tuesday,
2 June 2020 and Friday, 5 June 2020, both dates inclusive.
3. The above dates are subject to the Company filing the MOI Amendments with CIPC on the date of the General Meetings,
and accordingly the above dates may be subject to change. Any such change will be announced on SENS.
For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations.
19 May 2020
Pretoria
Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd
Date: 19-05-2020 09:45:00
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