Update on Bytes UK demerger and withdrawal of cautionary announcement
ALLIED ELECTRONICS CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1947/024583/06)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “the Company”)
UPDATE ON BYTES UK DEMERGER AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement released on SENS on 2 April 2020 and
published in the press on 3 April 2020 and the subsequent renewal of the cautionary announcement
released on SENS on 20 May 2020 and published in the press on 21 May 2020 relating, inter alia, to the
potential separation and listing of Altron’s United Kingdom subsidiary, Bytes Technology Group Limited
(“Bytes UK”) on the Main Market of the London Stock Exchange with a secondary listing of Bytes UK on
the Johannesburg Stock Exchange (the “Potential Transaction”).
As previously announced, Altron has appointed Rand Merchant Bank, a division of FirstRand Bank Limited,
as Financial Advisor and Transaction Sponsor in respect of the Potential Transaction in South Africa, and
the Company has now also appointed Numis Securities Limited as Sponsor, Financial Advisor and
Bookrunner in respect of the Potential Transaction in the United Kingdom. Shareholders are advised that
Altron and its advisors are actively progressing the Potential Transaction.
All price sensitive information relating to the Potential Transaction has been communicated to the market
and as such, the Company hereby withdraws the cautionary announcement and wishes to advise
shareholders that they are currently not required to exercise caution when dealing in the Company’s
The Company anticipates that it will have specific and precise details regarding the Potential Transaction
and should be in a position to announce such details during the fourth quarter of the 2020 calendar year.
25 June 2020
Financial Advisor and Transaction Sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 25-06-2020 09:00:00
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