AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Disposal of Powertech Transformers - Fulfilment of Conditions Precedent and Completion of Transaction Disposal of Powertech Transformers - Fulfilment of Conditions Precedent and Completion of Transaction Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") DISPOSAL OF POWERTECH TRANSFORMERS - FULFILMENT OF CONDITIONS PRECEDENT AND COMPLETION OF TRANSACTION Shareholders are referred to the previous announcements released on SENS on 15 November 2017, 4 April 2018 and 15 June 2018, respectively, relating to the disposal by Altron, through various of its subsidiaries, of its interest in the Powertech Transformers group on the terms and conditions applicable thereto ("the Transaction"). Shareholders are hereby notified that all conditions precedent to the Transaction as set out in the Share Purchase Agreement ("SPA") have either been fulfilled or waived, as the case may be. Accordingly, the Transaction is now unconditional in accordance with the terms of the SPA and will close on the effective date of 31 July 2018. Johannesburg 26 July 2018 Sponsor Investec Bank Limited Date: 26/07/2018 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.