AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Update announcement regarding the Altron Nexus / City of Tshwane Municipal broadband network judgement Update announcement regarding the Altron Nexus / City of Tshwane Municipal broadband network judgement Allied Electronics Corporation Limited (Registration number: 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") UPDATE ANNOUNCEMENT REGARDING THE ALTRON NEXUS / CITY OF TSHWANE MUNICIPAL BROADBAND NETWORK JUDGEMENT Shareholders are referred to the announcement released on SENS on 17 July 2019 regarding the judgement handed down in the Gauteng High Court in Pretoria on 16 July 2019. The judgement related to the setting aside of the award of the Altron Nexus / City of Tshwane ("CoT") Municipal Broadband Network contract on the basis of primarily internal processes not having been followed by the CoT in the awarding of the tender. The contract was awarded to a special purpose vehicle, Thobela Telecoms (RF) Proprietary Limited ("Thobela Telecoms") in June 2015, in which Altron Nexus is involved as the primary network designer and architect, supplier of broadband equipment and related services, as well as being a minority shareholder in Thobela Telecoms. Shareholders are advised that Thobela Telecoms has been granted leave to appeal the decision directly to the Supreme Court of Appeal. Shareholders will be updated regarding the outcome of the appeal at an appropriate time. Johannesburg 19 September 2019 Sponsor Investec Bank Limited Date: 19/09/2019 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.