AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Release of Bytes Technology Group plc abridged pre-listing statement and announcement of price range Release of Bytes Technology Group plc abridged pre-listing statement and announcement of price range Allied Electronics Corporation Limited (Incorporated in the Republic of South Af rica) (Registration number: 1947/024583/06) Share code: AEL ISIN: ZAE000191342 ("Altron" or the "Company") NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR WITHIN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL. RELEASE OF BYTES TECHNOLOGY GROUP PLC ABRIDGED PRE-LISTING STATEMENT AND ANNOUNCEMENT OF PRICE RANGE 1. RELEASE OF ABRIDGED PRE-LISTING STATEMENT AND PROSPECTUS Altron shareholders are advised that the abridged pre-listing statement in connection with the proposed offer of ordinary shares of Bytes Technology Group plc to certain institutional and professional investors (the "Offer") has been released on SENS today by Bytes Technology Group plc. Furthermore, Altron shareholders are also advised that the full prospectus (which document has been approved by the Johannesburg Stock Exchange ("JSE") as a Pre-listing Statement in terms of the applicable Listings Requirements of the JSE) in relation to the Offer ("Prospectus") can be accessed on Bytes Technology Group plc´s website f rom today at: www.bytesplc.com/investors/ipo-documents (subject to certain restrictions). 2. BYTES TECHNOLOGY GROUP PLC PRICE RANGE As is more fully set out in the Prospectus (using terms defined therein) the price range for the Offer has been set at 240.0 pence to 290.0 pence per Bytes Technology Group plc share (the "Price Range"), implying a market capitalisation on Admission of between £573.9 million and £692.3 million, assuming the Base Offer Size Assumptions and that the Offer Price is set at the bottom and top of the Price Range respectively. The expected minimum and maximum number of New Shares in the Offer are 111,297,716 and 171,842,458, which would result in expected gross proceeds from the Offer of £294.9 million and £455.4 million, respectively, assuming the Base Offer Size Assumptions and Maximum Offer Size Assumptions (each as defined below) and the Offer Price is set at the mid-point of the Price Range. - Bytes Technology Group plc has received written indications f rom certain major Altron Ordinary Shareholders, comprising Coronation, Biltron and VCP, that they intend to elect to redeem for cash a minimum of 25 per cent., 25 per cent. and 80 per cent., and a maximum of 25 per cent., 35 per cent., and 100 per cent., respectively, of their respective Convertible Notes arising from the Demerger in respect of their current shareholdings in Altron. - The "Base Offer Size Assumptions" assume that such elections for Coronation, Biltron and VCP are made and satisfied in their minimum amounts, the Default Ratio for Redemption and Conversion of the Convertible Notes held by the remaining Altron Ordinary Shareholders (other than Altron Finance) is 25 per cent. as to Redemption and 75 per cent. as to Conversion and no other Altron Ordinary Shareholder elects to redeem greater than 25 per cent. of its Convertible Notes. o The "Maximum Offer Size Assumptions" assume that such elections for Coronation, Biltron and VCP are made and satisfied in their maximum amounts, and the remaining Altron Ordinary Shareholders (other than Altron Finance) elect to redeem for cash 100 per cent. of their Convertible Notes and all such elections are satisfied. Johannesburg 1 December 2020 Financial Advisor and Transaction Sponsor Rand Merchant Bank, a division of FirstRand Bank Limited Legal Advisor DLA Piper IMPORTANT NOTICE This announcement is an advertisement and does not constitute a prospectus in connection with an offering of securities. These materials may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in, into or within the United States. These materials do not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Securities may not be offered or sold in the United States absent (i) registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or (ii) an available exemption from registration under the Securities Act. The securities mentioned herein have not been, and will not be, registered under the Securities Act and will not be offered to the public in the United States. The announcement does not constitute an offer for the sale of or subscription for, or the solicitation of an offer to buy and subscribe for, securities to the public as defined in the South African Companies Act, 2008 (the "SA Companies Act") and will not be distributed to any person in South Africa in any manner which could be construed as an offer to the public in terms of Chapter 4 of the SA Companies Act. These materials do not, nor are they intended to, constitute a prospectus prepared and registered under the SA Companies Act. Nothing in these materials should be viewed, or construed, as "advice" as that term is used in the Financial Markets Act, 2012 and/or the Financial Advisory and Intermediary Servic es Act, 2001. This announcement and any offer if subsequently made is and will only be addressed to and is and will only be directed at persons in South Africa who f all within one of the categories listed in section 96(1)(a) and/or (b) of the SA Companies Act. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect Altron's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Altron and/or Bytes Technology Group plc's business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date they are made. No representation or warranty is made that any forward-looking statement will come to pass. Date: 01-12-2020 03:46:00 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.