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AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Notice in terms of Section 45(5) (a) of the Companies Act 71 of 2008 ("the Act") Notice in terms of Section 45(5) (a) of the Companies Act 71 of 2008 ("the Act") Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron" or "the Company") NOTICE IN TERMS OF SECTION 45(5)(a) OF THE COMPANIES ACT 71 OF 2008 ("THE ACT") In terms of the provisions of section 45(5)(a) of the Act and pursuant to the special resolution passed at the annual general meeting of the Company held on 1 August 2018 authorising the board of directors ("the Board") to provide direct or indirect financial assistance to related and inter-related parties, notification is hereby given by Altron that the Board has adopted a resolution in terms of section 45(3)(b) of the Act authorising the Company to enter into a subordination- and inter-group indemnity agreement ("the agreements") with Altron Finance Proprietary Limited ("Alfin"). Alfin is a wholly-owned subsidiary of Altron and functions as the Altron group´s treasury company. The agreements are entered into as part of a refinancing of the Altron group´s facilities at more favourable terms to the Company, effective 1 March 2019, and constitutes financial assistance in terms of section 45 of the Act, which financial assistance exceeds one tenth of one percent of the Company's net worth. In accordance with section 45 of the Act, the Board is satisfied and acknowledges that: (i) immediately after providing such financial assistance, Altron satisfied the solvency and liquidity test as provided for in section 4 of the Act, and (ii) the terms under which such financial assistance has been given are fair and reasonable to Altron. Johannesburg 7 March 2019 Sponsor Investec Bank Limited Date: 07/03/2019 08:30:00 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.