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AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Resignation and Appointment of Acting Chief Financial Officer Resignation and Appointment of Acting Chief Financial Officer 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") RESIGNATION AND APPOINTMENT OF ACTING CHIEF FINANCIAL OFFICER Shareholders are advised that Mr Tim Jacobs has resigned as acting Chief Financial Officer ("CFO") of Altron to assume a permanent CFO role at a multinational group, as from 19 October 2018. Mr Andrew Holden, the current Chief Operating Officer ("COO") of Altron will assume the joint role of COO and acting CFO on 19 October 2018. Mr Holden has extensive experience in the ICT sector, having been with the Altron group for the past 24 years. The Board thanks Mr Jacobs for his contribution to the company and wishes him well in his future endeavours. Shareholders are further advised that the recruitment process of identifying a permanent CFO is progressing. Johannesburg 18 October 2018 Sponsor Investec Bank Limited Date: 18/10/2018 09:00:00 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.