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AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Delisting of Altron N shares Delisting of Altron N shares Allied Electronics Corporation Limited Incorporated in the Republic of South Africa Registration Number: 1947/024583/06 Share Code: AEL ISIN: ZAE000191342 Share Code: AEN ISIN: ZAE000191359 ("Altron" or the "Company") DELISTING OF ALTRON N SHARES 1. INTRODUCTION The definitions and interpretations commencing on page 6 of the Circular to shareholders dated Thursday, 9 February 2017 have been used in this SENS announcement. Shareholders are referred to the finalisation announcement released on SENS on Friday, 17 March 2017 confirming that all conditions precedent to the Restructure had been fulfilled and the implementation of the Restructure had commenced. 2. CANCELLATION AND DELISTING OF N SHARES Following the fulfilment of the Repurchase Scheme Conditions, the Repurchase Scheme has now been implemented and all of the issued N Shares have been cancelled as issued N Shares and reinstated as authorised but unissued N Shares. The N Shares cancelled represented 100% of the issued N Share capital of the Company immediately prior to such cancellation. Following the cancellation, the issued N Share capital of Altron is nil. Application will be made to CIPC to cancel the authorised N Shares and remove the N Shares from the Memorandum of Incorporation. The N Shares will be delisted from the JSE with effect from the commencement of business on Tuesday, 4 April 2017. Parktown, Johannesburg 3 April 2017 Joint financial advisor and sponsor to Altron Investec Bank Limited Joint financial advisor to Altron Rand Merchant Bank (A division of FirstRand Bank Limited) Legal advisor to Altron Edward Nathan Sonnenbergs Incorporated Legal advisor to VCP DLA Piper South Africa Services (Pty) Ltd Legal advisor to the Venter Family Lapin Attorneys Date: 03/04/2017 02:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.