AEL: ALLIED ELECTRONICS CORPORATION LIMITED – Independent investigation confirms Altron´s adherence to due process

AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Independent investigation confirms Altron´s adherence to due process
Independent investigation confirms Altron´s adherence to due process

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")


INDEPENDENT INVESTIGATION CONFIRMS ALTRON´S ADHERENCE TO DUE PROCESS


Shareholders are referred to the announcement released by the company on SENS on 15
December 2017 with regard to the Competition Commission investigation into three Altron
subsidiaries, together with 12 other businesses, with respect to the award of the Digital
Terrestrial Television ("DTT") Set-Top Box tender issued by the South African Government in
2014 ("the DTT tender").

Altech UEC, one of the Altron subsidiaries referred to, responded to the DTT tender in 2014,
but was ultimately unsuccessful in its bid to secure the tender.

Subsequent to the Competition Commission inquiry, Altron appointed Bowmans, an external
legal firm, to conduct an independent investigation into the allegations.

Bowmans has subsequently finalised its investigation into the Altron subsidiaries´ alleged
collusion in the award of the DTT tender and has concluded that in their opinion there was no
anti-competitive conduct on the part of these entitles, particularly with regard to tender collusion
and/or price fixing.

The Altron Board is satisfied with this finding and again confirms that Altron obeys the laws and
regulations of all countries in which it operates and remains committed to uncompromising
ethical business practices through stringent corporate governance.


Johannesburg

22 February 2018


Sponsor
Investec Bank Limited

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