Shareholders are hereby advised that, in line with the Board's original intention and further to the announcement dated 6 April 2020, the Board confirms the retirement of Mr Eric Diack from the Board.

Mr Philip Hourquebie, who has been a Board member since August 2015 and the Chair of the Audit and Risk Committee since August 2017, has been appointed Chairman of the Board.

Following Mr Hourquebie's appointment as the Chairman of the Board, the following Board committees have been reconstituted as follows:

Ms Bridgette Modise, currently an independent non-executive director, has been appointed as Chair of the Audit and Risk Committee and a member of the Investment Committee. Mr Hourquebie, with his appointment as Chairman of the Board, steps down from the Audit and Risk Committee and has been appointed as Chair of the Investment Committee. All of the above appointments are with immediate effect.

The composition of the Aveng Board remains compliant with the King IV requirements.

Stakeholders are referred to the Company's announcement released on SENS on 26 March 2020.

The Group's geographic diversity has posed some challenges as each country of operation has faced varying restrictions at different times. However, this diversity has helped to mitigate the impact on overall business performance with some jurisdictions remaining operational while others have been required to shut down temporarily. During this time, management have continuously monitored and responded to developments in each of its businesses. The priorities remain the safety and well-being of all of our people as well as ensuring the long-term sustainability of the business for the benefit of all stakeholders.

Notwithstanding the differing impacts on each business, the Group has enhanced its focus on actively reducing costs and preserving cash in all areas. The Group continues to pursue identified opportunities to grow its order book in the core businesses of McConnell Dowell and Moolmans.

Business update and impact of Covid-19
McConnell Dowell
Aveng's Australian based subsidiary McConnell Dowell, which operates in the engineering and construction sector across Australia, New Zealand and Pacific Islands and South East Asia, has undertaken substantial planning to ensure it is able to continue to operate safely and efficiently where permitted to do so, and where lock-downs have been implemented, to ensure a full and efficient recommencement when the time comes.

McConnell Dowell has continued to deliver on its growth priority and has been awarded AUD1 billion in new contracts since December 2019. These awards are with government customers and span all geographic regions and include:
• Jurong Regional Line package 108 (J108), for Singapore's Land Transport Authority
• Palembang City Sewerage project in Java, Indonesia
• New Bang Pha Pump station in Thailand for Thai Oil
• The Cherry St, Old Geelong Rd, Werribee St and Cranborne Line Upgrade (CLU) packages for Victoria's Level Crossing Removal Project in Melbourne, Australia
• South Australian Water Frameworks package for SA Water
• HMAS Coonawarra Marine Works project in Darwin, Australia for Laing O'Rourke (as managing contractor for Department of Defence)
• Early works award for the Warkworth to Snells water pipeline on the North Island of New Zealand for WaterCare NZ
• Mangere TARP mechanical maintenance works program for WaterCare NZ

These new awards result in a current order book of AUD 1.9 billion, representing growth of 47% since 31 December 2019. The higher proportion of Government contracts is expected to provide a level of risk mitigation in the current environment. These projects will very likely form an integral part of the stimulus packages and recovery efforts that the respective governments will implement as they emerge from lockdown restrictions. The healthy level of the order book further supports revenue in 2021.

In addition to the secured orders, McConnell Dowell has in excess of AUD 1.2 billion of tenders that are currently under evaluation, pending contract award. The pipeline of new work is further supported by AUD 930 million worth of projects which are currently in preferred status or Early Client Involvement (ECI) contracts. Tender volumes are expected to increase further over the coming months, particularly in support of stimulus packages as economies enter a post lockdown period.

There have been no project cancellations within the McConnell Dowell portfolio and government clients have remained supportive during this period. The operational impact of the pandemic on each of the three regions is outlined below.

To date, restrictions affecting McConnell Dowell's operations have been imposed most significantly in New Zealand and Singapore, which entered into one and two month lock-down periods respectively, ceasing all construction activity other than a small number of projects deemed essential works. Impacts have also been felt in Indonesia and the Pacific Islands. In Australia construction activity has largely continued despite government restrictions designed to slow the spread of COVID-19.

Moolmans
Moolmans, currently has open cut contract mining operations in the Northern Cape and Mpumalanga provinces in South Africa and in Guinea together with a deep level shafting sinking operation in the Limpopo province of South Africa.

In line with the level 5 lockdown regulations announced at the start of South Africa's initial lockdown period, all the mining contracts in the country ceased and were placed on care and maintenance. Moolmans care and maintenance practices undertaken during this time were designed to ensure the protection of its assets and to allow for a rapid recommencement of operations.

Since the move to level 4 in South Africa, Moolmans has recommenced full operations at the majority of their open cut mining contracts. The underground project at Platreef is operating at 50% in line with revised regulations.

As part of the remobilization process, Moolmans has implemented COVID-19 specific health and safety precautions, in line with recommended best practice, to ensure that staff are protected against possible infection.

The Lefa contract in Guinea has continued to operate during this period.

Despite the disruption caused by the pandemic, Moolmans continues to actively pursue a number of opportunities for new work during this period.

Rest of Group
Trident Steel has recommenced operations in Port Elizabeth, Durban, Cape Town and Roodekop since the move to level 4. This is aligned to the phased restarting of the Automotive Manufacturers and the general steel industry. The team is continuously monitoring the developments amongst its key customers.

The Manufacturing businesses have restarted in varying degrees depending on customer demand. Whilst some customers are able to operate at Level 4, others will only commence operations at a later time. Infraset is manufacturing orders of rail products. Duraset is running a small team to meet specific requirements from its mining clients. ACS is operating at full capacity as it supplies into the essential services sectors of the economy. Management is adopting a cautious approach and will regularly reassess the need to increase production, add production lines and products and open factories in response to demand from the economy.

In response to lower levels of economic activity, several cost saving measures have been and will continue to be implemented across the Group to combat the effect of the pandemic as it unfolds.

Notwithstanding all of the above actions taken by management in response to the pandemic, there have been revenue, productivity, margin and cash flow impacts across all businesses in the Group. Given the uncertainty around the outcome of the pandemic on the global economy, it is likely that there are further impacts, yet to be determined, in the coming months.

Settlement of outstanding claims
Significant progress has been made in the resolution of legacy claims within McConnell Dowell. Aveng is pleased to announce that settlements have been concluded on two long-standing claims. In reaching the decision to settle these matters, the Board has been mindful of the current uncertainties facing the business and the market in general and has taken this decision with a view to enhancing the resilience of the underlying business by improving available liquidity. These settlements will assist this objective by releasing AUD 41.5 million in cash in the short term, reducing ongoing legal costs, removing litigation uncertainty and allowing management to focus on the growth objectives of McConnell Dowell. There will be an associated non-cash impairment of AUD 19 million. The resolution of these legacy claims is a significant achievement at a critical time and will be cash flow enhancing. The proceeds of the claims will be used to strengthen the Groups liquidity position.

Liquidity
Liquidity and cash flow management in the South African market remains a key risk to the Group. The Group has appropriate processes and systems in place to provide the necessary information to manage cash and liquidity. However, the lockdown and related loss of revenue across all businesses in South Africa has negatively impacted a liquidity position that was already under pressure. Management continue to monitor the liquidity position and engage constructively with banks and other stakeholders as appropriate.

Conclusion
The Company has continuously engaged with our key stakeholders including clients, suppliers, insurers, banks and investors during this period. Management will continue to do so during the remaining period of the lockdown, in the various jurisdictions, to find ways to protect Aveng, ensure its ongoing sustainability and alleviate the burden on our people and other stakeholders.

Due to the complex and extremely fluid nature of the current environment, it is not possible to provide an accurate assessment of the impact on the Group's financial performance at this stage. The Board will, however, continue to communicate to shareholders as appropriate.

Shareholders are advised that, in line with the Board's original intention and following a period of orderly hand-over, Mr Eric Diack will step down from his position as Executive Chairman with effect from 30 April 2020. Mr Diack will continue to act as Non-Executive Chairman before retiring from the Board at the next scheduled Board meeting.

A further announcement in relation to the appointment of a new Chairman will be made in due course.

During the course of the last week, measures have been announced by governments around the world in response to the Covid-19 pandemic. These include most of the jurisdictions in which Aveng operates, including South Africa, Australia, New Zealand, Singapore, Malaysia, Thailand and Indonesia. On Monday 23 March 2020, President Ramaphosa announced a 21-day lockdown in South Africa commencing on Thursday, 26 March. This is unprecedented in the history of South Africa's democracy and will have immediate and long-lasting effects on our society. Similar restrictive actions, with varying degrees of severity, have been announced in many of the geographies in which we operate.

At Aveng, we are focused on the safety and well-being of all of our people and ensuring the long-term sustainability of our business for the benefit of all stakeholders. Our executive team has met with the management teams of each of our businesses to discuss the impact of these restrictions and our responses thereto. These events are highly complex, present significant uncertainty and continue to evolve at a rapid rate. The executive team is monitoring the situation on a daily basis and has formulated contingency plans across the Group. These plans will be adapted to ensure that risks are addressed as they arise and as new information comes to hand.

Business Impact
Moolmans
The Group's South African business, Moolmans, currently has open cut contract mining operations in the Northern Cape and Mpumalanga provinces in South Africa and in Guinea and a deep level shafting sinking operation in the Limpopo province of South Africa. As part of the national lockdown in South Africa, all non-essential local mining operations are required to be placed on care and maintenance. Moolmans will cease active mining at its South African sites in accordance with these regulations. Essential care and maintenance activities will continue as required on a site by site basis to ensure that all sites are rendered safe and that the business protects its assets. This will ensure a full and efficient recommencement of mining activities as quickly as possible post the cessation of the national lockdown.

The Moolmans contract in Guinea continues to operate at this stage.

McConnell Dowell
The impact of the COVID-19 pandemic on the construction industry globally is unprecedented.
Substantial planning is being undertaken to ensure the industry is able to continue to operate safely and efficiently where it is able to do so and, where industry lockdowns are enforced by government, to ensure a full and efficient recommencement when the time comes. Aveng subsidiary, McConnell Dowell has an order book comprising of 90% government projects spanning across its operating regions in Australia, New Zealand, the Pacific and South East Asia. The full extent to which operations across the portfolio will be impacted by government restrictions is at present unknown. However, this strong weighting of the order book towards government work is considered to be a significant risk mitigation in the current circumstances. In addition, there is a high level of confidence that government stimulus packages will be made available to ease the financial impact on the industry.

Currently, 85% of McConnell Dowell's active project portfolio remains operational, subject in some places to manageable restrictions associated with social distancing measures. 75% of McConnell Dowell's operations in New Zealand have been temporarily stopped pursuant to a “Stage 4” lock-down announced by the New Zealand government for a 4-week period. In South East Asia one project in Indonesia has been impacted, and all projects in Australia are currently operational (as of 26 March). Pleasingly, McConnell Dowell has been awarded more than AUD900 million in new contracts since December, all with government customers, bringing work in hand to just over AUD2 billion with 90% for Government customers. In addition, AUD1.4 billion of projects are currently in preferred status or ECI contracts, with a further AUD1.3 billion of other tenders currently outstanding pending contract award.

Rest of Group
Aveng Trident Steel is primarily a service centre business serving the automotive industry in South Africa. Following announcements by a number of large automotive customers and the port authority, Trident's operations have been significantly curtailed. These operations have been shut down in a controlled manner, in line with the 21-day lockdown. The operations will recommence once the restrictions of the lock-down have been lifted. All operations within South Africa for the remaining Manufacturing businesses have been closed for the duration of the lockdown with limited operations remaining in other Southern African countries for now. The Group will continue to give liquidity and cash flow management the highest level of focus. Active cost saving measures are being implemented for the areas of the business being directly affected in order to mitigate the overall financial impact. Revenue will be reduced through this period until projects restart.

We will continue to engage with our clients, suppliers, insurers, banks and investors over the coming days and weeks to find ways to protect Aveng, ensure its ongoing sustainability and alleviate the burden on our people and other stakeholders. The current situation is highly complex and is evolving at a rapid pace. As a result, it is not possible, at this point, to give an accurate estimate of the financial impact that the pandemic will have on the business. The Board will continue to communicate to shareholders as appropriate.

Revenue for the interim period decreased to R11.185 billion (2018: R13.367 billion), operating profit turned around to R14 million (2018: loss of R484 million), loss from continuing operations narrowed to R31 million (2018: loss of R681 million), while headline loss per share dropped to 1.1 cents per share (2018: headline loss of 5.5 cents per share).

Dividend
No dividend was declared.

Company outlook
Aveng is focused on completing the disposal of the non-core assets in 2020, reducing debt and finance charges, continuously improving the operational performance of both core businesses and growing their order books profitably in order to achieve the Group's three-year business plan.

Liquidity, cash and cost reduction remain an ongoing priority. The cash flow performance although improved, continues to receive a high level of focus, notably the collection of overdue debtors. While the Group experienced delays in completing some of the previously announced transactions, the proceeds from the disposal of non-core assets are expected to contribute to the progressive improvement in the quality of Aveng's balance sheet, with the objective of achieving a sustainable long-term capital structure.

The Group is expected to report an overall operating profit for the period. The operating performance of core businesses over the first six months of the financial year has been positively impacted by the return to profitability of the Moolmans business together with the continued profitability of McConnell Dowell.

Shareholders are advised that the financial results for the period ended 31 December 2019 are expected to reflect a material improvement on the comparative period. The basic loss for the six months ended 31 December 2019 is expected to be between R151 million and R185 million, representing an improvement of between 84% and 80% from the R918 million loss reported in the comparative period.

The headline loss for the period will improve to between R185 million and R226 million, representing an improvement of between 74% and 68% from the restated headline loss of R703 million in the comparative period.

The prior period headline loss has been restated from R770 million to R703 million (HEPS loss decreasing to 5.5cps from 6.1cps). In the prior financial year, a restatement was reported following an extensive assessment of asset health within Moolmans carried out in that financial year. This resulted in certain costs being disaggregated within already recorded cost of sales to better reflect how the asset components are utilised. Consequently, these costs have been reflected as a loss on derecognition of components following early component failure.

It should be noted that the HEPS and EPS loss values were impacted by an increase in the weighted average number of shares in the period. The weighted average number of shares in issue at 31 December 2019 has increased to 19 395.5 million (12 676.3 million at 31 December 2018). The increase in the weighted average number of shares is as a result of the rights issue and shares issued relating to the early redemption of the convertible bond in the prior year.

The HEPS loss is expected to reduce to be between 1.0cps and 1.2cps, representing an improvement of between 83% and 79% compared to a restated loss of 5.5cps at 31 December 2018. The EPS loss will be between 0.8cps and 1.0cps, representing an improvement of between 89% and 87% against a reported loss of 7.2cps in the comparative period.

The Group will release its results for the period ended 31 December 2019 on 25 February 2020.

Aveng has received a notice purporting to terminate the contract for the construction of the Leonardo in Sandton ("the Contract") from Seventy Five on Maude (Pty) Ltd., which is part of Mr Bart Dorrestein"s Legacy Group ("the Employer").

Aveng entered into the Leonardo Contract in October 2015. In the intervening period, the project suffered delays, the responsibility and consequence of which are the subject of various disputes, dealt with in terms of the agreed dispute resolution mechanisms.

Aveng"s position is that the grounds for termination relied on by the Employer are incorrect, inaccurate and ill- conceived, and are accordingly denied. Furthermore, Aveng is of the view that the Employer is itself in material breach of the Contract, which precludes the possibility of a valid termination. Therefore, the action taken by the Employer amounts to a clear repudiation of the Contract.

Aveng has accepted the repudiation and as a result has consequently terminated the Contract on the basis of this repudiation. Aveng has fully reserved its rights and intends to recover its damages resulting from the termination.

Aveng considers the building to be practically complete for the purposes of its intended use.

The Employer has made a call on the Construction Guarantee ("the Bond"), procured by Aveng as part of the Contract. The call was made on the basis of the Employer"s termination of the Contract. The value of the Bond is R87.4 million. This will be dealt with within Aveng"s existing financing arrangements.

Aveng is accordingly considering its position and taking advice as to what remedies it will have recourse to in respect of this, as it considers the call on the Bond to be incorrect for the reasons outlined above.

Update on the status of previously reported disposal of Grinaker-LTA Mechanical and Electrical Business On 4 October 2019, Aveng announced that it had entered into a binding term sheet, with Laula Consortium Proprietary Limited (the "Purchaser" or "Laula"), for the sale of the Grinaker-LTA Mechanical and Electrical Business ("M&E Business"), subject to certain consents and conditions precedent ("Proposed Transaction"). The Company wishes to inform shareholders that all consents and conditions precedent have been fulfilled or waived and that the transaction has become effective. The purchase price of R72 million has been received by Aveng in full.

This announcement provides an update on the following disposals:
- Aveng Dynamic Fluid Control ("DFC"), announced on 5 July 2019;
- Aveng Grinaker-LTA Rand Roads ("Rand Roads"), announced on 12 July 2019; and
- Aveng Grinaker-LTA Building and Civil Engineering business ("Aveng Grinaker-LTA Construction"), announced on 8 August 2019.

DFC
All consents and conditions precedent have been fulfilled or waived and the purchase price of R129 million has been received. The purchase price is subject to a final working capital adjustment that is to be agreed with the purchaser.

Rand Roads
All consents and conditions precedent have been fulfilled or waived, the upfront payment of R25 million has been received, the transaction has become effective, and the business has been delivered to the purchaser. There has been no change to the originally announced terms of the transaction.

Aveng Grinaker-LTA Construction
All consents and conditions precedent have been fulfilled or waived, the transaction has become effective and the business has been delivered to the purchaser. The purchase consideration is subject to a working capital adjustment. This adjustment will result in a reduction of R30.5 million to the previously announced consideration of R100 million. The settlement of the consideration will be via:
- An initial payment of R20 million settled via six equal monthly instalments, commencing on the 25th day of the 6th month following the closing date; and
- A further R49.5 million which will be settled by no later than the second anniversary of the closing date.

The disposal of the Grinaker-LTA Ground Engineering business unit ("GEL") was announced on 12 July 2019. This transaction will not proceed in its current form, as a result of the purchaser subsequently being unable to secure the requisite funding of R7.5 million. GEL was identified as non-core as part of the strategic review, undertaken by the Group in February 2018, and continues to be deemed as such. Therefore, Aveng will continue to explore alternatives to affect the disposal of the business.

Shareholders are advised that at the annual general meeting held today, the requisite majority of shareholders approved all the ordinary and special resolutions. There were 19 394 498 220 ordinary shares in issue as at the date of the annual general meeting. The total number of shares present/represented, including proxies, at the meeting was 12 078 833 016.

Engagement with dissenting shareholders
Shareholders are further advised, that Ordinary Resolution number 5, relating to the non-binding advisory vote on the Company s remuneration report was approved by less than 75% of shareholders present in person or represented by proxy at the AGM. In line with the recommendations of the King IV Report on Corporate Governance for South Africa, 2016 and the JSE Limited Listings Requirements, Aveng will engage with shareholders who did not vote in favour of the resolution ("Dissenting Shareholders").

An invitation is therefore extended to shareholders to engage with the Company as follows:
shareholders are invited to forward their concerns/questions on the remuneration report to the company secretary in writing to edinah.mandizha@avenggroup.com by close of business on Friday, 17 January 2020; and
engagements will be arranged thereafter, if appropriate, with individual shareholders to discuss their concerns/questions.

Shareholders are referred to the SENS announcement released on 7 August 2019, when Aveng announced that it had entered into a fully funded sale of business agreement with Videx Wire Products (Pty) Ltd. ("Videx") for the sale of the Aveng Duraset Alrode business ("Duraset Alrode") as a going concern ("Proposed Transaction").

The Proposed Transaction was subject to a number of consents and conditions precedent, as outlined in the SENS announcement. All consents and conditions precedent have been fulfilled except the approval of the relevant competition authorities. Recently, the South African Competition Commission formally prohibited the Proposed Transaction. As a result, the agreement between Aveng and Videx has been terminated.

Duraset Alrode was identified as non-core as part of the strategic review, undertaken by the Group in February 2018, and continues to be deemed as such. Therefore, Aveng will continue to explore alternatives to affect the disposal of the business and is currently in discussions with other interested parties.

Shareholders are advised that Aveng Ltd. will relocate to new offices with effect from 9 December 2019, and the Company"s new registered address is as follows:
Physical address: 3rd Floor, 10 The High Street, Melrose Arch, Johannesburg, 2076

All other details remain the same as follows:
Postal address: PO Box 6062, Rivonia, 2128,
Telephone: 011 779 2800

Broad-Based Black Economic Empowerment certificate
Shareholders are hereby notified that in accordance with the JSE Listings Requirements, Aveng"s compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad- Based Black Economic Empowerment Act 46 of 2013, has been published and is available on the Group"s website, www.aveng.co.za.

1. McConnell Dowell
McConnell Dowell has been awarded new orders to the value of AUD 535 million since 30 June 2019. With these awards, McConnell Dowell"s two-year order book now stands at AUD 1.45 billion, an increase of 26% on the order book as reported at 30 June 2019. These awards include the following projects:
*Mordialloc Bypass (Australia)
* Echuca-Moama Bridge (Australia)
* Westland Milk Bypass (New Zealand)
* Modbury Hospital (Built Environs)

McConnell Dowell has now secured 90% of the budgeted revenue for the current financial year. These significant awards have also meant that good progress has been made towards securing orders to meet the budgeted revenue beyond the current financial year. Additionally, McConnell Dowell has more than AUD 1 billion worth of projects in preferred status. The markets in which McConnell Dowel operates remain supportive of the medium-term growth objectives and management at McConnell Dowell will continue to exercise discipline in terms of selecting opportunities on which to tender.

The business continues to trade profitably, in line with management expectations and has met its budget for the first quarter of the financial year. This has been achieved as a result of good ongoing project execution, with the project portfolio delivering profitability outcomes exceeding tendered margins. Continued operational improvement remains a key focus area for McConnell Dowell.

2. Moolmans
Moolmans has been able to secure a further contract extension at the Nkomati mine since 30 June 2019. As a result, 92% of the FY20 budgeted revenues have now been secured. The renegotiation of certain contracts together with the other aspects of the Group-led intervention, as outlined in the annual results announcement of 29 August 2019, are yielding positive results. The business has returned to profit during the first quarter and has met budget expectations. This provides a strong underpin to the expected return to profit for the full financial year. Management continues to focus on further improving operational performance and pursuing selected new opportunities to meet its budgeted performance in FY21 and FY22.

3. Non-core disposals
On 4 October 2019, Aveng announced the disposal of the Grinaker-LTA Mechanical and Electrical business to the Laula Consortium for R72 million. The transaction is subject to the conditions precedent as outlined in the SENS announcement. This brings the value of announced transactions to R1.1 billion. Subsequent to this announcement, the Competition Commission has granted approval for the sale of the Grinaker- LTA Building and Civil Engineering business, announced on 8 August 2019, to the Laula Consortium. The transaction became unconditional on 1 November 2019. Discussions with potential buyers for the remaining non-core businesses of Aveng Trident Steel and Aveng ACS are continuing. The Company expects to have finalised the disposal of all non-core businesses during the course of the current financial year.

4. Liquidity
Liquidity and cash management remains an ongoing priority for the Group. The cash flow performance of all businesses continues to receive a high level of focus, notably the collection of overdue debtors. Whilst the Group has experienced delays in completing previously announced transactions, the proceeds from the disposal of non- core assets are expected to contribute to the progressive improvement in the quality of the Group"s balance sheet, with the objective of achieving a sustainable long-term capital structure.

The information in this announcement has not been reviewed or reported on by Aveng"s external auditors.

Shareholders are hereby advised that the Notice of Annual General Meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Wednesday, 30 October 2019. The Notice of Annual General Meeting contains no modifications to the audited group results for the year ended 30 June 2019, published on SENS and in the media on Thursday, 29 August 2019.

The Integrated Report is available on the Company"s website (https://www.aveng.co.za/annual-reports.php).

Notice is hereby given that the seventy-fifth Annual General Meeting of shareholders will be held at 10h00 on Friday, 29 November 2019 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting.

Salient dates
The Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 25 October 2019, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 22 November 2019 ("Voting Record Date"). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 19 November 2019. Forms of proxy must be lodged by no later than 10h00 on Wednesday, 27 November 2019 for administrative purposes. Alternatively, such forms of proxy may be handed to the company secretary or chairman at the Annual General Meeting.

The Aveng board announced the appointment of Ms Bridgette Modise as an independent non- executive director to the Aveng board with effect from 1 November 2019. In addition, Ms Modise has been appointed to the Audit & Risk Committee and the Social, Ethics and Transformation Committee.

Following the strategic review concluded in 2018 and as part of the non-core disposal process, Aveng, acting through its wholly owned subsidiary, Aveng Africa (Pty) Ltd. ("Aveng Africa" or the "Seller"), has entered into a binding term sheet, with Laula Consortium (Pty) Ltd. (the "Purchaser" or “Laula”), for the sale of the Grinaker-LTA Mechanical and Electrical Business ("M&E Business"), subject to certain conditions precedent ("Proposed Transaction").
The M&E Business was identified as non-core as part of the strategic review. The M&E Business:
• has an extensive record of accomplishment of successful contracts in the structured steel, mechanical, electrical, instrumentation and piping projects executed in the oil and gas and resources sectors; and
• is a well-established player in the shut-down and maintenance sector, where it regularly undertakes work in several of the large petroleum refineries.

Laula is a black-owned company whose shareholders include Oteo Investment Holdings (Pty) Ltd. (“Oteo”), Manzini Ventures (Pty) Ltd. and Upsize Trading (Pty) Ltd.. Laula which is led by Mlu Manci of Oteo, boasts black senior management experience going back to 1984 and technical experience in major construction projects in South Africa, from large civil infrastructure projects to complex, commercial buildings.

Salient terms of the Proposed Transaction.
The Proposed Transaction will be effected through the sale of 100% of the issued shares ("Sale Shares") in GrinakerLTA (Pty) Ltd. (“GLTA”), a subsidiary of Aveng Africa which owns and operates the M&E Business, to the Purchaser.

Proposed Transaction.
The Purchaser will be entitled to conduct a confirmatory legal and financial due diligence in relation to the Sale Shares and the M&E Business for a period of 14 days after term sheet signature date. The Proposed Transaction will be subject to standard warranties as are customary to a transaction of this nature which will be contained in the transaction agreements to be concluded by no later than 31 October 2019 ("Final Agreements"). The proceeds from the sale will be used to strengthen the financial position of the Company.

Consents and Conditions Precedent
The Final Agreements will be subject to the following conditions precedent:
• Approval being granted by, or notification given to, the various financiers who are a party to the Common Terms Agreement concluded with Aveng;
• Aveng implementing the restructure of GLTA to include only the M&E Business and any foreign subsidiaries in relation thereto;
• To the extent necessary, consent obtained from the relevant third parties to cancel or transfer any bonds, performance guarantees and indemnities from the Seller to the Purchaser;
• The Purchaser having entered into the necessary funding and/or bonding agreements for all new or replacement facilities, and such agreements having become unconditional in their terms;
• The cession and assignment of the existing lease agreements to the Purchaser; and
• The obtaining of all statutory and regulatory approvals, including Competition Commission approval.

Net Asset Value and Profit attributable to the M&E Business as at 30 June 2019
The net asset value attributable to the M&E Business at 30 June 2019 was R59 million and a profit after tax of R8 million. This information has been extracted from the unpublished management accounts. The management accounts were prepared in terms of the Company's accounting policies. The Company confirms that it is satisfied with the quality of such management accounts. This financial information has not been reviewed or reported on by Aveng's external auditors.

Revenue for the year decreased to R25.676 billion (2018: R30.580 billion), gross earnings lowered to R1.048 billion (2018: R1.798 billion), operating loss increased to R1.119 billion (2018: loss of R401 million), loss for the period from continuing operations narrowed to R927 million (2018: loss of R1.050 billion), while headline loss per share fell to 9.7 cents per share (2018: headline loss of 290.1 cents per share).

Dividend
No dividend was declared.

Company outlook
Aveng's strategy remains valid, and the Group is focused on completing the disposal of the non-core assets in 2020 and de-risking the Group, reducing debt, returning Moolmans to profitability, growing the McConnell Dowell order book profitably and improving equity value for shareholders.

In accordance with section 3.4 (b) of the JSE Listings Requirements, shareholders are advised that the basic loss in earnings will improve by more than 100% and will be between R1 631 million and R1 731 million compared to a R3 523 million loss reported in the same comparative period. The headline loss for the period will be between R1 495 million and R1 595 million, compared to a restated headline loss of R1 563 million in the comparative period. The prior year headline loss has been restated from R 1 679 million to R1 563 million (HEPS loss decreasing to 290.1cps from 311.6cps). This follows from an extensive assessment of asset health within Moolmans carried out at the end of the prior year and beginning of the current year. This resulted in certain costs being disaggregated within already recorded cost of sales to better reflect how the asset components are utilised. Consequently these costs have been reflected as a loss on derecognition of components following early component failure.

It should be noted that the HEPS loss and EPS loss values have been impacted by an increase in the weighted average number of shares in the period. The weighted average number of shares in issue at 30 June 2019 has increased to 15 995.5 million (538.8 million at 30 June 2018). The increase in the number of shares in issue is as a result of 4 926.8 million shares issued in the previously announced rights issue on 4 July 2018 and the 14 046 million shares issued relating to the early redemption of the convertible bond on 25 September 2018. As a result, the headline loss per share and the basic loss per share for the year ended 30 June 2019 have improved by more than 100% compared to the comparative period.

The HEPS loss will be between 9.3cps and 10.0cps, compared to a restated loss of 290.1cps at 30 June 2018, while the EPS loss will be between 10.2cps and 10.8cps, compared to a reported loss of 653.9cps in the comparative period. The Group will release its results for the year ended 30 June 2019 on 28 August 2019. The financial information contained in this trading statement has not been reviewed nor reported on by Aveng"s independent external auditors.

Following the strategic review concluded in 2018 and as part of the non-core disposal process, Aveng, acting through its wholly owned subsidiary, Grinaker LTA (Pty) Ltd ("GLTA" or the "Seller"), has entered into a binding sale of business agreement with the Laula Consortium ("Purchaser") for the sale of the Grinaker-LTA Building and Civil Engineering business ("Aveng Grinaker-LTA Construction") as a going concern ("proposed transaction"), subject to certain conditions precedent.

Particulars of the proposed transaction
The proposed transaction includes the Business, all assets and liabilities, including the settlement agreement entered into between the Government of South Africa and Aveng Africa (Pty) Ltd. ("Settlement Agreement"), and transferring contracts as agreed between the parties. Certain contracts (mainly those that are at or near practical completion) will not transfer. These contracts will be managed to completion by way of a service level agreement with the Purchaser.

The proposed transaction consideration is R100 million in cash which will be subject to a net working capital
adjustment settled via:
*An initial payment of R30 million settled via 6 equal monthly instalments, commencing on the 25th day of the 6th month following the closing date;
*A further R70 million including the net working capital adjustment, which will be settled by no later than the second anniversary of the closing date.
*Certain security obligations will apply until the final cash consideration is received. The proceeds from the sale will be used to strengthen the financial position of the Aveng.

Consents and conditions precedent
The proposed transaction is subject to the following consents and conditions precedent:
*Approval being granted by, or notification given to, the various financiers who are a party to the Common Terms Agreement concluded with Aveng;
*If required, approval of the competition authorities;
*Entering into a sub-lease between the Purchaser and the Seller in respect of the Jet Park property for a minimum period of twelve months and the cession of various other property leases;
*To the extent necessary, consent obtained from the relevant third parties to cancel or transfer the Bonds, Performance Guarantees and Indemnities;
*The Purchaser having entered into the necessary funding and/or bonding agreements for all new or replacement facilities, and such agreements having become unconditional in their terms;
*Aveng having obtained the consent of the Government of the RSA to assign the Settlement Agreement to the Purchaser; and
*Other required regulatory approvals.

The transaction agreements include warranties normal for a transaction of this nature.

Closing date
The proposed transaction is expected to close no later than 21 November 2019 after all conditions have been met.

Net asset value and loss attributable to the Grinaker-LTA Building and Civil Engineering business as at 30 December 2018
The net asset value attributable to the Business at 31 December 2018 was (R46 million) and a loss after tax of R1.4 million. This information has been extracted from the unpublished management accounts and excludes the impact of those contracts not forming part of the proposed transaction.

The management accounts were prepared in terms of the Company"s accounting policies. The Company confirms that it is satisfied with the quality of such management accounts.

The financial information has not been reviewed or reported on by the Group"s external auditors.

Categorisation
The proposed transaction is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and accordingly no shareholder approval is required.

Disposal of Aveng Duraset Alrode business
Background and rationale
Following the strategic review concluded in 2018 and as part of the non-core disposal process, Aveng has entered into a fully funded binding sale of business agreement with Videx Wire Products Proprietary Limited ("Videx") for the sale of the Aveng Duraset Alrode business ("Duraset Alrode") as a going concern ("Proposed Transaction"), subject to certain conditions precedent. Duraset Alrode was identified as non-core as part of the strategic review and is a diversified supplier of engineered support solutions to the mining and geotechnical industries and has positioned itself over time as a leading supplier of safety critical products to the mining industry. Videx is a leading manufacturer and supplier of roof support systems and ventilation ducting for the mining industry. The company has been in the mining roof support industry since 1984 and prides itself on supplying innovative, cost effective and safe quality products.

Particulars of the Proposed Transaction
Aveng Duraset consists of operations conducted at its Alrode, Germiston, and Westonaria premises. The Proposed Transaction is limited to the sale of the Duraset Alrode operation and product portfolio to Videx which includes all assets and liabilities of Duraset Alrode. The Proposed Transaction consideration is R50 million in cash. This will be subject to adjustment (up or down) based on the achievement of an aggregate sales target for the two months preceding the Effective Date ("Target Sales"). The adjustment will be determined on the percentage difference between the actual sales achieved and the Target Sales. The consideration is further subject to a net working capital adjustment. The minimum consideration payable is R30 million. The proceeds from the sale will be used to reduce debt and strengthen the financial position of Aveng.

Consents and conditions precedent
The Proposed Transaction is subject to the following consents and conditions precedent:
*Approval being granted by, or notification given to, the various financiers who are a party to the Common Terms Agreement concluded with Aveng;
*If required, approval of the competition authorities;
*Consent being obtained from the relevant third parties for all material contracts to be assigned to the Purchaser in a form acceptable to both the Purchaser and the Seller; and
*Entering into a sub-lease between the Purchaser and the Seller in respect of the Duraset Alrode property for a minimum period of three months.

The transaction agreements include warranties normal for a transaction of this nature.
Effective date
The Effective Date shall be the first business day of the calendar month following the fulfilment or waiver (as the case may be) of the conditions precedent outlined above. The Proposed Transaction is expected to close no later than 31 October 2019.

Net asset value and loss attributable to Duraset Alrode as at 31 December 2018
Duraset Alrode was reported as held for sale in the interim financial statements for the period ended 31 December 2018. As part of this classification, the basis of valuation is fair value less cost to sell. The net asset value of Duraset Alrode amounted to R47 million at 31 December 2018. Duraset Alrode reported a loss after taxation of R9 million for the interim period ended 31 December 2018. The historical interim financial information for Duraset Alrode was prepared in accordance with International Financial Reporting Standards.

This financial information has not been reviewed or reported on by the Group"s external auditors
Categorisation
The Proposed Transaction is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and accordingly no shareholder approval is required.

Following the strategic review concluded in 2018 and as part of the non-core disposal process, Aveng has entered into a fully funded binding sale of business agreement with Ultra Asphalt (Pty) Ltd. ("Ultra") for the sale of the Aveng Grinaker-LTA Rand Roads business unit ("Rand Roads") as a going concern ("Proposed Transaction"), subject to certain conditions precedent. Rand Roads was identified as non-core as part of the strategic review. Rand Roads is a specialist division within Aveng Grinaker-LTA, whose service offering covers the full supply chain for road rehabilitation and infrastructure, from bitumen binders modification to asphalt production.

Ultra is a newly formed investment special purpose vehicle whose shareholders have a 100% interest in a leading plant-hire operator in South Africa specialising in mining, heavy plant and equipment, quarries, road development, road construction and rehabilitation and water supply. 2. Particulars of the proposed transaction Aveng will sell the operations of Rand Roads ("Target Business") to Ultra on a cash free debt free basis. The proposed transaction shall consist of the business of Rand Roads, including all assets and liabilities of the business, and Aveng"s 15% interest in Specialised Road Technologies (Pty) Ltd. ("SRT").

The proposed transaction consideration is R30 million plus the value of inventory as at the effective date (currently estimated at R7.5 million) with a further working capital adjustment calculated on the net movement in Trade and Other Receivables and Trade and Other Payables, 92 days after the effective date ("the True Up Date"). The proposed transaction consideration will be settled by a R25 million upfront payment in cash on effective date with the balance to be settled on the True Up Date.

The proceeds from the sale will be used to strengthen the financial position of Aveng.

Consents and conditions precedent
The proposed transaction is subject to the following consents and conditions precedent:
*Approval being granted by, or notification given to, the various financiers who are a party to the Common Terms Agreement concluded with Aveng;
*If required, approval of the competition authorities;
*To the extent necessary and applicable, all shareholders in SRT having waived any rights of pre-emption or similar rights;
*The assignment of the existing lease agreements to the Purchaser; and
*Finalisation of the transitional services agreement providing for the orderly carve out of the Target Business from the Group.

The transaction agreements include warranties normal for a transaction of this nature.

Effective date
The transaction is expected to close no later than 31 October 2019

Net asset value and loss attributable to Rand Roads as at 31 December 2018
Rand Roads was reported as held for sale in the interim financial statements for the period ended 31 December 2018. As part of this classification, the basis of valuation is fair value less cost to sell. The net asset value of the business unit amounted to R57 million at 31 December 2018.

Rand Roads reported a loss after taxation of R10 million for the interim period ended 31 December 2018.
The historical interim financial information for Rand Roads was prepared in accordance with

International Financial Reporting Standards.
This financial information has not been reviewed or reported on by the Group"s external auditors

Categorisation
The proposed transaction is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and accordingly no shareholder approval is required.

Announcement on the sale of the Aveng Grinaker-LTA Ground Engineering business
Aveng has also entered into a binding sale of business agreement with a newly formed investment special purpose vehicle ("NewCo") for the sale of the Aveng Grinaker-LTA Ground Engineering business unit ("GEL") as a going concern. The shareholders of the NewCo include Wolf Capital Partners (Pty) Ltd. and the current management of GEL. The purchase consideration of R7.5 million will be settled in cash and is fully funded. The transaction is expected to close no later than 31 October 2019. GEL is a geotechnical contractor based in Johannesburg and was identified as non-core as part of the strategic review.

The disposal is not a categorised transaction in terms of the JSE Listings Requirements and this announcement is made voluntarily.

Following the strategic review concluded in 2018 and as part of the non-core disposal process, Aveng has entered into a binding sale of business agreement and a subordinated loan agreement with Copaflo Fluid Control Pty Ltd. ("Copaflo") for the sale of the Aveng Dynamic Fluid Control business unit ("DFC") as a going concern ("Proposed Transaction"), subject to certain conditions precedent.

DFC was identified as non-core as part of the strategic review and consists of its South African business, together with related foreign subsidiaries in Australia, Brazil, Finland and the United States.

Copaflo is a 100% black owned investment company which invests in engineering and manufacturing businesses. Copaflo directly and indirectly owns 55% of the Fabchem Group. Fabchem Group owns Fabchem Mining which is the second largest supplier of cable anchors in Southern Africa.

Consents and conditions precedent
The Proposed Transaction is subject to the following consents and conditions precedent:
*Copaflo providing Aveng with a guarantee from the IDC;
*Approval being granted by, or notification given to, the various financiers who are a party to the Common Terms Agreement concluded with Aveng;
*Approvals required from the Financial Surveillance Department of the South African Reserve Bank, if required;
*Obtaining the consent of third parties to cancel or transfer financial guarantees; and
*Finalisation of the transitional services agreement providing for the orderly carve out of the Target Business from the Group.

The transaction agreements include warranties normal for a transaction of this nature.

Effective date
The transaction is expected to close no later than 31 October 2019 after all conditions have been met.

Net asset value and profit attributable to DFC as at 31 December 2018
DFC was reported as held for sale in the interim financial statements for the period ended 31 December 2018. As part of this classification, the basis of valuation is fair value less cost to sell. The net asset value of the business unit amounted to R268 million at the interim period ended 31 December 2018.

DFC reported a profit after taxation of R10 million for the interim period ended 31 December 2018. The historical interim financial information for DFC was prepared in accordance with International Financial Reporting Standards.

This financial information has not been reviewed or reported on by the Group"s external auditors.

Categorisation
The Proposed Transaction is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and accordingly no shareholder approval is required.

On 18 January 2019, Aveng announced the sale of Aveng Water, as a going concern, to Infinity Partners, a 100% Black-owned company. The sale was subject to the fulfilment of a number of conditions precedent as outlined in the announcement on 18 January 2019.

Aveng announced that all conditions precedent have been met and that the transaction has now become unconditional. Following the due diligence process, the sale price was reduced from R95m to R85m with an additional deferred payment of R5m subject to certain conditions having been fulfilled by June 2020. The payment of R85 million was received from Infinity Partners on Tuesday 25 June 2019 and will be used to strengthen the financial position of the Group.

The finalisation of the sale underpins the Company"s commitment to refocusing Aveng to become an international infrastructure, mining and resources group. Aveng remains committed to completing the balance of the disposals in a timeous manner subject to acceptable value being realised.

On 3 October 2018, Aveng announced the sale of Aveng Rail, as a going concern, to Mathupha Capital, a 100% black owned investment company.

The transaction has now become unconditional and the cash consideration of R133 million was received on Friday 24 May 2019. The proceeds from the sale will be used to reduce overall debt.

The sale represents an important step in the delivery of Aveng"s strategic action plan and in the refocusing of Aveng to become an international infrastructure and resources group. Aveng remains committed to completing the balance of the disposals, subject to acceptable value being realised.

Further to the SENS announcement dated 22 March 2019 relating to the Mtentu Contract and the dismissal of the court application by the Aveng-Strabag Joint Venture ("ASJV"), a joint venture between Aveng and Strabag International GmbH ("Strabag"), Aveng provides the following update and clarifications:
*the ASJV considers the dismissal of the application to be wrong and, based on legal advice, is appealing the judgment;
*the ASJV"s view is that the performance security is not to be considered an "on-demand" bond, but rather of the nature of a surety or accessory obligation. SANRAL"s rights to make a call against the contract securities are strictly regulated and limited in terms of the Mtentu contract (a principle which was in fact upheld by the Court although the application itself was dismissed);
*the ASJV is expressly and comprehensively indemnified for all losses resulting from any claim against the performance security which SANRAL is not actually entitled to make. The indemnity extends not only to the recovery of any amount incorrectly claimed by SANRAL but also all resultant damages, losses and expenses (including legal fees and expenses) resulting therefrom;
*SANRAL has conceded that any potential call on the ASJV issued Retention Money Guarantee is limited to a maximum of approximately R22.5 million (thereby protecting a potential maximum call of approximately R82 million), together with the Performance Security of approximately R245 million, and
*if a demand is made by SANRAL, the ASJV will take further action to protect its rights in this regard.

The ASJV considers this matter to be critically important not only to the ASJV but also to the broader South African construction industry which is plagued and held ransom by unlawful community actions of the nature experienced by the ASJV. The judgment does not change the fact that the Mtentu Contract has been terminated or require the ASJV to continue with its work on the Project. The board and management remain confident in its position and will continue to defend Aveng"s position. Aveng continues to engage with relevant stakeholders but would highlight that it will not under any circumstances put its employees or contractors at risk. Further detail The ASJV terminated the Contract for Force Majeure on 30 January 2019. In terms of the provisions of the Contract, the termination took effect 6 February 2019.

SANRAL, despite itself having suspended the works on site for 83 days for the same reasons, took the approach that there was no Force Majeure and that the ASJV"s termination constituted a repudiation/abandonment of the Contract. SANRAL could have denied the Force Majeure and sought to hold the ASJV to the Contract. However, SANRAL elected to terminate the Contract on 5 February 2019, which in terms of the provisions of the Contract would have taken effect on 19 February 2019.

The ASJV had provided 2 bonds ("Contract Securities") to SANRAL in connection with the Mtentu Contract, being (a) a performance guarantee ("Performance Security") in the amount of approximately R245 million and (b) a retention money guarantee ("Retention Money Guarantee") in the amount of approximately R82 million. Although the Contract Securities are described by SANRAL as "on-demand" bonds, SANRAL"s rights to make a call against the Contract Securities are strictly regulated and limited in terms of the Mtentu Contract itself and the ASJV accordingly launched the urgent application.

Although it would not ordinarily debate, in the public domain, its views on litigation that it is involved in, the ASJV considers it necessary to note that the court upheld that the ASJV was entitled to protect its contractual interests and to ensure that the contractual mechanism was carried out before any demand was made on the Contract Securities (SANRAL had disputed this right and had threatened to make a demand on the Contract Securities while ignoring the underlying contract). However, as emerges from the ASJV"s (Amended) Notice of Appeal:
* the learned judge ought then to have confined herself to whether (i) the ASJV had established a prima facie right to be protected by the interdict and (ii) the balance of convenience favoured the ASJV in granting the interdict against SANRAL; but
*having initially correctly conceded that she did not have to decide on the existence or otherwise of the Force Majeure event, the learned judge erred in making:
o findings as to the existence or otherwise of the Force Majeure event as well as the validity of the applicant"s termination of the contract; and
o factual findings on disputed facts in urgent motion proceedings where there was no trial in relation to the disputed facts.

The ASJV remains confident that its right to terminate arose, after being prevented from executing works on the Project site by community unrest, protest action and threats of violence against its personnel, related to community demands made against SANRAL and that its entitlement and decision to terminate will be vindicated by the facts when properly ventilated and considered through the dispute resolution provisions of the Contract.

In its 4 February 2019 SENS Announcement the company noted that:
• the Aveng-Strabag Joint Venture ("ASJV"), which is a joint venture between Aveng and Strabag International GmbH ("Strabag"), had terminated its contract ("Mtentu Contract") with the South African National Roads Agency SOC Limited ("SANRAL") for the construction of the Mtentu Bridge Project ("Project") due to Force Majeure;
• the ASJV had provided 2 bonds ("Contract Securities") to SANRAL in connection with the Mtentu Contract being:-
o a performance guarantee ("Performance Security") in the amount of approximately R245 million; and
o a retention money guarantee ("Retention Money Guarantee") in the amount of approximately R82 million.
• although the Contract Securities are described by SANRAL as "on-demand" bonds, SANRAL"s rights to make a call against the Contract Securities are strictly regulated and limited in terms of the Mtentu Contract itself; and
• the ASJV was taking steps to protect the position of Aveng and Strabag in connection with the Contract Securities.

To this end, the ASJV launched a pre-emptive urgent application in the North Gauteng High Court for an order preventing SANRAL from making a call on the Contract Securities until the dispute between the ASJV and SANRAL regarding the termination of the Mtentu Contract has been finally determined.

An interim undertaking to the effect that SANRAL would not make a demand on the Contract Securities pending judgment in respect of the application was agreed and made an order of the High Court on 12 February 2019. SANRAL furthermore conceded that any potential call on the Retention Money Guarantee is limited to a maximum of approximately R22.5 million (thereby protecting a potential maximum call of approximately R82 million).

The matter was argued in the High Court on 20 February 2019 before Judge Makhubela and judgment was reserved.

On 22 March 2019 Judge Makhubela dismissed the application with costs. No reasons were provided by Judge Makhubela when the order was made, noting that the reasoned judgment would be made available by the end of the day.

The ASJV has provisionally noted its intention to appeal the order which will be supplemented when the reasoned judgement is made available.

The ASJV maintains that its right to terminate arose after being prevented from executing works on the Project site by community unrest, protest action and threats of violence against its personnel, related to community demands made against SANRAL and the ASJV remains confident that its entitlement and decision to terminate will be vindicated by the facts. Today"s order does not change or affect that and we do not expect the judgment to include any finding on the ASJV"s right to terminate the Mtentu Contract or, for that matter, express any view on the substance of the dispute between ASJV and SANRAL.

Although successful interdicts on bond calls are very rare, the ASJV nevertheless considered it prudent to launch the pre-emptive urgent application with a view to obtaining certainty as soon as possible regarding the protection of its rights in respect of the Contract Securities given that the ASJV considers a call against the Contract Securities by SANRAL to be likely, albeit not inevitable.

Neither the ASJV nor the issuer, consider the Performance Security to be an "on-demand" bond but rather of the nature of a surety or accessory obligation, and made their respective positions clear and reserved their positions in the current application. To this end:
• if a demand is made by SANRAL, the ASJV:
o expects the issuer of the Performance Security to (i) not make payment and (ii) defend any demand may be made by SANRAL pending the underlying liability (if any) of the ASJV actually being established; and
o will, if required, participate or institute further proceedings to interdict payment on the bonds by the guarantor based on the terms of the Contract Securities, and
• Aveng has engaged with and has satisfied its financiers regarding the consequences of a call being made.

In respect of the Retention Money Guarantee:
• SANRAL"s concession that any potential call is limited to a maximum of approximately R22.5 million (thereby eliminating the risk of a call to its full face of approximately R82 million) remains valid; and
• the ASJV considers that the Retention Money Guarantee is in any event specifically linked to work defects and not for other matters SANRAL may consider give rise to an entitlement.

In anticipation of the order being received and in order to have its dispute with SANRAL resolved as soon as possible, the ASJV has already commenced formal dispute proceedings against SANRAL. The Mtentu Contract requires the dispute to be referred to adjudication followed by High Court proceedings if the matter is not finally determined at adjudication stage.

If SANRAL makes a claim under the Performance Security in the interim, the ASJV is expressly and comprehensively indemnified for all losses resulting from any claim which SANRAL is not actually entitled to make under the Mtentu Contract. In terms of the indemnity the ASJV is entitled to recover not only any amount incorrectly claimed by SANRAL under the Performance Security but also all resultant damages, losses and expenses (including legal fees and expenses) resulting therefrom. The ASJV intends to hold SANRAL to this indemnity.

Revenue for the interim period decreased by 17% to R13.367 billion (2017: R16.111 billion), gross earnings plunged by 47% to R597 million (2017: R1.124 billion), operating loss soared to R484 million (2017: profit of R94 million), loss for the period attributable to equity-holders of the parent widened to R918 million (2017: loss of R347 million), while headline loss per share lowered to 6.1 cents per share (2017: headline loss of 62.2 cents per share).

Company outlook
A positive outlook for McConnell Dowell is supported by growing markets that will sustain robust demand for new infrastructure. The economies of Australia and New Zealand are expected to be strong and stable in 2019 and 2020 as a result of several large-scale infrastructure projects that are underway and strong demand in the road and rail transport infrastructure sectors along the east coast of Australia, driven largely by higher levels of public spending by the Australian government.

Against this background, McConnell Dowell will grow and diversify its order book in selected markets. The ECI status ensures that McConnell Dowell is well positioned to secure additional work in the near term. The business continues to focus on improving the consistency of its project execution.

Moolmans" immediate focus is on fully implementing the remedial actions of the Group-led turnaround intervention. Moolmans is also focused on optimising and extending contracts in its current portfolio to restore planned operational and financial performance.

Moolmans continues to pursue selected new opportunities in improving market conditions.

Grinaker-LTA has a limited order book and prospects for acquisition of new work in subdued operating conditions. Businesses earmarked for disposal within the operating group continue to be right-sized to achieve the financial objectives of potential new shareholders.

Based on a low GDP growth outlook for 2019, the manufacturing businesses are not forecast to grow significantly in the second half of the financial year.

Trident Steel continues to focus on sales optimisation and efficiency improvements to strengthen profitability. The business expects to benefit from sound prospects in the automotive market.

Management is focused on completing the majority of the non-core asset disposals by June 2019 and equipping the core businesses to execute the Group"s longer-term strategy.

Change in directorate
* Ms Edinah Mandizha was appointed as Group Company Secretary effective from 13 September 2018.
* Ms Kholeka Mzondeki resigned as the Group Lead Independent Non-executive Director effective 24 December 2018.
* Ms May Hermanus was appointed as the Lead Independent Non-executive Director effective from 24 December 2018, and was appointed to the Audit and Risk Committee effective 20 February 2019.
* Mr Mike Kilbride was appointed as the Chairman of the Remuneration Committee effective 24 December 2018, and was appointed as a member of the Social, Ethics and Transformation Committee effective 22 February 2019.
* Mr Sean Flanagan was appointed as the Chief Executive Officer (CEO) with effect from 1 February 2019.
* Mr Philip Hourquebie was appointed to the Safety, Health and Environment Committee effective 22 February 2019.

In compliance with paragraph 3.59(c) of the Listings Requirements of the JSE Limited, shareholders are hereby advised that Mr Philip Hourquebie, currently an independent non-executive director, has been appointed to the Safety, Health and Environment Committee with immediate effect. Mr Mike Kilbride, currently an independent non-executive director, has been appointed as a member of the Social, Ethics and Transformation Committee with immediate effect.

Shareholders are advised that the headline loss and basic loss for the six months ended 31 December 2018 have worsened by more than 100% compared to the six months ended 31 December 2017. The headline loss for the period will be between R742 million and R820 million, compared to a loss of R335 million reported in the comparative period, whilst the basic loss in earnings will be between R876 million and R967 million, compared to a loss of R347 million reported in the same comparative period.

It should be noted that the HEPS loss and EPS loss figures have been impacted by an increase in the weighted average number of shares in the period. The weighted average number of shares in issue at 31 December 2018 has increased to 12 676.3 million (396.8 million at 31 December 2017). The increase in the number of shares in issue is as a result of 4 926.8 million shares issued in the previously announced rights issue on 4 July 2018 and the 14 046 million shares issued relating to the redemption of the convertible bond on 25 September 2018.

As a result, the headline loss per share ("HEPS loss") and the basic loss per share ("EPS loss") for the six months ended 31 December 2018 will be more than 100% better than the comparative period.

The HEPS loss will be between 5.9cps and 6.5cps, compared to a reported loss of 84.4cps to 31 December 2017, while the EPS loss will be between 6.9cps and 7.6cps, compared to a reported loss of 87.7cps to 31 December 2017.

The Group will release its results for the six months ended 31 December 2018 on 25 February 2019.

Shareholders are advised that Ms May Hermanus, the lead independent director has been appointed to the Audit and Risk Committee with immediate effect.

In February 2018, Aveng (the "Group") announced the results of its strategic review ("Strategic Review"). The outcome of the Strategic Review was a new and focused strategy to be an international infrastructure and resources group operating in selected fast-growing markets capitalising on its considerable knowledge and experience. As part of this Strategic Review, the Group announced that it intends to dispose of certain non-core assets and properties. The Aveng Infraset business ("Infraset"), consisting of the South African division and the Infraset business of the foreign subsidiaries of Aveng Africa (Pty) Ltd. ("Aveng Africa"), was identified as one of those non-core assets.

Aveng has entered into a binding term sheet for the sale of Infraset to the Colossal Africa Consortium ("Colossal SPV"), on the conditions set out in this announcement ("Proposed Transaction").

About Infraset
Infraset has a rich history, with over 85 years of experience in the manufacturing of infrastructure products , including Grinaker Precast opening the Brakpan factory to produce railway sleepers in 1969. Today, Infraset manufactures a diverse range of precast concrete products to world-class quality standards including the following product categories: Civil Engineering, Landscaping, Poles and Masts, Railway Products, and Roof Tiles. Infraset is a competitive player in all categories and a leader in the rail sleeper industry and continues to innovate and look for new opportunities.

Overview of Colossal SPV
Colossal SPV is a newly formed 100% black owned investment special purpose vehicle made up of Isongo Investments (Pty) Ltd. and Colossal Africa Infrastructure (Pty) Ltd. Colossal Africa Infrastructure is a company with interests in the materials supply sector, whereas Isongo is a rail company providing specialised services and products for railway industries.

Particulars of the Proposed Transaction
Aveng will sell all the businesses of Infraset in South Africa, Zambia, Mozambique, Swaziland and Zimbabwe as a going concern.

The Proposed Transaction will be structured on a cash and debt-free basis for a net transaction consideration of R180 million to be settled in cash on effective date and a further cash top up of R20 million payable within two years (if certain conditions are met), both of which are fully funded. The proceeds will be used to strengthen the financial position of the Group and to reduce overall debt. The Proposed Transaction is expected to close no later than 30 April 2019 after all conditions have been met.

Consents and conditions precedent
The Proposed Transaction is subject to the following conditions precedent:
- The conclusion of the final and binding agreements;
- The cession and assignment of the existing leases to Colossal SPV;
- The conclusion of all necessary agreements in relation to licenses used for purposes of the
Infraset; and
- The parties obtaining all statutory and regulatory approvals in all jurisdictions, including
Competition Commission approval.
The transaction agreements will include representations and warranties normal for a transaction of this nature.

Net asset value and loss attributable to Infraset as at 30 June 2018
Infraset was reclassified and reported as Held for Sale in the annual financial statements for the year ended 30 June 2018. As part of this reclassification, the basis of valuation was changed to fair value less cost to sell. The net asset value of the business unit before impairment amounted to R 491million for the year ended 30 June 2018.

Infraset reported a loss after taxation before impairment of R 52 million for the year ended 30 June 2018. Following the reclassification to Held for Sale and the resultant fair value adjustment, Infraset reported an impairment of R365 million for the year ended 30 June 2018.

The historical financial information for Infraset was prepared in accordance with International Financial Reporting Standards.

Categorisation
The Proposed Transaction is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and accordingly no shareholder approval is required.

The Aveng-Strabag Joint Venture ("ASJV"), which is a joint venture between Aveng and Strabag International GmbH ("Strabag"), was awarded the Mtentu Contract ("Mtentu Contract") for the construction of the Mtentu Bridge Project ("Project"), a 1.132 m long bridge crossing the Mtentu river, by the South African National Roads Agency SOC Ltd. ("SANRAL").

As from 22 October 2018, the ASJV has not been able to execute works on the Project site due to threats of violence and levels of community unrest and protest action related to demands made against SANRAL.

SANRAL has expressed the view that although the demands of the community have yet to be fully resolved, its engagement process has reached a stage where works can continue safely. The ASJV does not agree with SANRAL"s view and related events do not support SANRAL"s view.

The ability to execute works safely and in accordance with international best practice is ASJV"s primary concern.

Aveng and Strabag, on the strength of their combined local and international experience and track-record in complex bridge projects, have come to the reasoned conclusion that the ASJV cannot resume the execution of the works given the risk to the safety and wellbeing of its personnel and has therefore elected to terminate the Mtentu Contract following consultation with external legal advice. SANRAL was notified accordingly on 30 January 2019.

Contract Securities
The ASJV has provided 2 bonds ("Contract Securities") to SANRAL in connection with the Mtentu Contract being:
- A performance guarantee ("Performance Security") in favour of SANRAL in the amount of R245.1 million and
- A retention money guarantee ("Retention Money Guarantee") in favour of SANRAL, in the amount of R81.7 million

In terms of the Mtentu Contract, although the Contract Securities are typically described as "on-demand" bonds, SANRAL"s rights to make a call against the Contract Securities are strictly regulated and limited in terms of the Mtentu Contract itself. The ASJV is taking steps to protect the position of Aveng and Strabag in this regard.

The ASJV is mindful of the impact the termination of the Contract may have and has made itself available for further discussions with SANRAL to work collaboratively with SANRAL to finding pragmatic outcomes to the unwinding of the Mtentu Contract.

Aveng provided an update on recent contract awards secured by the Group"s Australian subsidiary, McConnell Dowell, a core business within the Aveng Group. A key priority in its Strategic Plan is to deliver long term sustainable growth.

McConnell Dowell is a respected specialist infrastructure contractor providing engineering and construction solutions to the infrastructure, building and resource sectors across Australia, New Zealand and the Pacific and Southeast Asia. Its latest contract awards reaffirms the disciplined growth agenda and reflects the growing momentum and demand for its specialist capabilities against a backdrop of strong opportunities and competition across its operating regions. The business is well positioned to take advantage of the significant market opportunities in which it operates.

Key contracts awarded during FY 2019 Q2 include:

Tuas Water Reclamation Project (Singapore): The Tuas Water Reclamation Plant is a highly strategic and important infrastructure project that will deliver substantial environmental and social benefits to Singapore and its people. This award comes after McConnell Dowell"s successful completion late last year of the complex Tuas Road bridge project for a related Singapore Government entity in the Tuas vicinity. McConnell Dowell will provide site-wide facilities and support services for the Tuas Facility including construction of the outfall, sewer connections in the vicinity, as well as the provision and maintenance of services such as security, utilities, telecommunications, traffic management. When completed, the Tuas Facility will be the largest water reclamation plant in Singapore to use membrane bioreactor technology.

Wingfold Tower (Australia): Following a change of ownership of this development site, McConnell Dowell"s subsidiary Built Environs will continue work on the 25 level luxury apartment complex in Adelaide"s CBD under a new construction contract. Construction will resume in early 2019 and is scheduled for completion in 2020.

Pukekohe Wastewater Treatment Plant (New Zealand): McConnell Dowell"s joint venture with HEB Construction Ltd will cement its reputation as the leading provider of wastewater development projects in New Zealand with this significant treatment plant upgrade required to service the growing South Auckland region. The new facility will double the plant"s capacity and works will begin immediately. The award of this project builds upon the successful completion of the award-winning BNR project in 2018.

Wynyard Edge Alliance (New Zealand): McConnell Dowell"s reputation for marine works has been further enhanced by being selected to execute the Wynyard Edge Alliance in Auckland. Working alongside Downer, BECA, Tonkin + Taylor, Auckland Council and MBIE, the Alliance will design and construct the infrastructure to support the 36 America"s Cup in New Zealand to be held in 2021.

Stanley Street Stormwater Upgrade (New Zealand): McConnell Dowell will deliver stormwater upgrade and outlet works for the Ports of Auckland.

These recent contract awards cement McConnell Dowell"s position in key strategic markets, including commercial real estate, water and waste water and marine sectors. Moreover, the awards underpin McConnell Dowell"s Strategic Plan of steady growth, reliable performance and in being a valued business partner through a disciplined and highly-focused project pursuit pipeline. The awards confirm McConnell Dowell"s progress under its business strategy to build a platform for long term, sustained growth and profitability.

The awards in the first half of FY2019 total over R8.5 billion, taking McConnell Dowell"s Order Book to R11.4 billion as at 31 December 2018 (up 50% from R7.6 billion as at 30 June 2018). With a healthy level of work in Early Client Involvement (ECI) status, McConnell Dowell is well-positioned to continue to secure additional work in the near term.

This supports McConnell Dowell"s baseline revenue for FY 2020 and beyond, providing a strong base for continued growth across its core markets and operating regions. In addition, the market sectors that McConnell Dowell services are expected to see ongoing positive conditions, offering growth opportunities with the continued roll out of medium and large-sized projects.

In February 2018, Aveng announced the results of its strategic review ("Strategic Review"). The outcome of the review was the adoption by Aveng of a new and focused strategy to be an international infrastructure and resources group operating in selected markets and capitalising on its considerable knowledge and experience. As part of this Strategic Review, the Group announced that it intends to dispose of certain non-core assets and properties. Aveng Water (Pty) Ltd. and the Aveng Namibia Water business (together "Aveng Water") was identified as one of these non-core assets.

Aveng has entered into a sale and purchase agreement ("SPA") with Cambrose 735 (Pty) Ltd., a special purpose vehicle incorporated as a private company ("Infinity Partners"), for the sale of the shares in Aveng Water (Pty) Ltd. and the Aveng Namibia Water business ("Proposed Transaction").

Infinity Partners is a 100% Black-owned company jointly held by E-Squared Investments (Pty) Ltd. ("E-Squared") and Suzie Nkambule, the current managing director of Aveng Water who has led the successful turnaround of the business for the past 3 years. Suzie Nkambule is a Fellow of the Allan Gray Orbis Foundation and will lead the business as it builds on its strategy and capabilities to become a leading water infrastructure development and technology company operating across sub- Saharan Africa.

E-Squared is a large impact investor whose vision is of an economically sustainable and inclusive South Africa. E-Squared invests in high-impact businesses driven by the Allan Gray Orbis Foundation Fellows who have entrepreneurial ambition and who seek to make meaningful transformation possible in the South African economy. Investing in Infinity Partners is aligned to E- Squared"s mission to empower responsible entrepreneurs to become the catalysts for economic development, transformation and social upliftment in South Africa.

This sale is another important step in the delivery of Aveng"s Strategic Action Plan and in the refocussing of Aveng to become an international infrastructure and resources group. The Proposed Transaction addresses the retention of all existing jobs, surety for the continuation of existing clients" contracts, and sustainability to ensure the business remains successful well into the future.

Particulars of the Proposed Transaction
Aveng will sell the shares in Aveng Water and the transaction will be structured as follows:
(i) Sale of 100% of the issued shares of Aveng Water (Pty) Ltd.; and
(ii) Sale of the assets and liabilities and the business of the Aveng Namibia Water from Aveng Namibia.

The fully-funded net transaction consideration is R95 million and will be settled in cash on a debt free basis. The proceeds from the sale will be used to strengthen the financial position of the Group and will be applied as working capital to the remainder of the Grinaker-LTA business as previously agreed with the Group"s South African Lenders in the Common Terms Agreement. The transaction is expected to close by the end of the first calendar quarter of 2019.

Conditions precedent
The Proposed Transaction is subject to a number of conditions precedent, including:
(i) Satisfactory completion of due diligence;
(ii) Entering into a license agreement in terms of which Aveng Water retains the right to use the ‘Aveng Water" brand and all other related brands for a period of six calendar months after the Effective Date;
(iii) To the extent legally required, the Proposed Transaction is approved by the Competition Authorities in all applicable jurisdictions;
(iv) To the extent required, approval of the Proposed Transaction by financiers who are party to the Common Terms Agreement concluded with Aveng on 25 February 2018 and most recently amended on 13 September 2018;
(v) any other required regulatory approvals in respect of the final agreements and the Proposed Transaction; and
(vi) any third-party consents that may be required for the implementation of the Proposed Transaction to the satisfaction of the Aveng.

The SPA incudes representations and warranties that are normally associated with a transaction of this nature.

Shareholders are hereby advised that Kholeka Mzondeki has resigned as the Group"s lead independent non- executive director, with effect from 21 December 2018.

Kholeka has been a board member for the past five years. The board wishes to thank Kholeka for her valuable contribution.

May Hermanus, who has been a board member since 2009, has been appointed lead independent non-executive director and Mike Kilbride, who has been a board member since 2012, has been appointed the chairman of the remuneration committee, with immediate effect

Further reconstituted board committees will be announced in due course.

The board of Directors of Aveng announced the appointment of Sean Flanagan as Chief Executive Officer (CEO), with effect from 1 February 2019.

Eric Diack, who was appointed interim CEO on 26 September 2017, will remain Executive Chairman for an envisaged six-month transition period, which will ensure an orderly hand-over. After this, Eric will resume his role as Aveng"s Non-Executive Chairman.

The board, which will announce reconstituted committee members in due course, looks forward to Sean"s continued contribution to the Aveng Group.

AEG 201812140054A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities



In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited received formal notification on Thursday, 13 December
2018, that Investec Limited, acquired an interest in the ordinary shares of Aveng,
such that the total interest in the ordinary shares of Aveng held by Investec Limited,
now amounts to 5,84% of the total issued ordinary shares of Aveng. The total interest
previously held by Investec Limited was 2,66%.




Jet Park



14 December 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 14/12/2018 01:41:00 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.

AEG 201812130027A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited has received formal notification on Wednesday, 12
December 2018, that clients of Coronation Asset Management have, in aggregate,
disposed an interest in the ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by Coronation Asset Management's clients now
amounts to 18.36%. The total interest previously held by Coronation Asset
Management's clients was 25.7%.




Jet Park



13 November 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 13/12/2018 10:05:00 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.

AEG 201812110043A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited received formal notification on Monday, 10 December
2018, that Citigroup Inc. acquired a 10.3122% interest in the ordinary shares of
Aveng. Subsequently, Aveng received formal notification, that Citigroup Inc. disposed
an interest in the ordinary shares of Aveng, such that the total interest in the ordinary
shares of Aveng held by Citigroup Inc. now amounts to 0.00 % of the total issued
ordinary shares of Aveng.




Jet Park



11 December 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 11/12/2018 04:29:00 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.

Shareholders are advised that at the annual general meeting the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of the annual general meeting. There were 19 394 498 220 ordinary shares in issue as at the date of the annual general meeting. The total number of shares present/represented, including proxies, at the meeting was 14 842 314 828 or 77%

Aveng Shareholders are advised that at the general meeting held on Friday, 16 November 2018, the requisite majority of shareholders approved all the resolutions, as set out in the notice of the general meeting, necessary to proceed. In February 2018, Aveng announced the results of the strategic review following a thorough and robust interrogation of all parts of the organisation to identify businesses and assets that support its long-term strategy of becoming an international infrastructure and resources group, with a footprint in developing and fast-growing regions and with access across the chosen markets. As part of the strategy, Aveng identified the Jet Park Property as a non-core asset for disposal to generate capital and enhance the liquidity of the Aveng Group. Aveng Africa has reached agreement with Equites for the disposal of the Jet Park Property.

Results of the general meeting
There were 19 394 498 220 ordinary shares in issue at the date of the general meeting. The total number of shares present/represented, including proxies, at the meeting was 14 337 831 944 or 74% of Aveng's issued share capital.

Aveng provided an update on recent contract awards secured during the first quarter in the Group's Australian subsidiary, McConnell Dowell. McConnell Dowell is a core business within the Aveng Group. A key priority in its Strategic Action Plan is to enhance operational performance, deliver growth and unlock value from core assets. The growth in the order book was identified as a key metric to achieve this objective, when the Group presented its annual results on 25 September 2018. McConnell Dowell is a specialist and respected infrastructure contractor offering engineering and construction solutions to the Infrastructure, Building and Resource sectors across Australia, New Zealand and the Pacific, Southeast Asia and the Middle East. All four business units have recently secured new projects in core markets and across their specialist capabilities providing strong opportunities across all operating regions

Key contracts awarded during the first quarter include:
Webb Dock & Burnie Facilities Upgrade (Australia): McConnell Dowell's marine expertise is being further showcased having been contracted to upgrade existing wharf facilities at Webb Dock and Burnie for Toll Group. The project will commence immediately and will be completed ready for operational use in early 2019.

Swanson Dock Rehabilitation (Australia): Further works to rehabilitate the berth at Swanson Dock have been awarded by the Port of Melbourne Corporation. The repeat work demonstrates the strength and alignment of a successful customer relationship.

Aviation Rd & Wyndham (Australia): As part the ongoing capital works programme under the Western Program Alliance, McConnell Dowell has been awarded the contract to remove the Aviation Road Level Rail Crossing in Laverton and construct the Wyndham Vale Stabling Yard. Works on both packages are scheduled to commence immediately. These awards follow the successful execution of recent projects for the Victorian State government.

Neste Underpass (Singapore): McConnell Dowell's underground reputation will continue to be strengthened as it has been selected by Neste to construct two underpasses for production lines, services lines and facilities at their refinery in Singapore. The underpasses are designed to connect Neste's new facilities with its existing refinery units on the nearby islands of Tuas in Singapore.

Clean Fuel Project (Thailand): McConnell Dowell is undertaking the early works package associated with the Clean Fuel Project for Thai Oil. The project team is mobilising quickly to ensure the works are ready for commissioning during 2019.

Jane St & Mulgoa Rd (Australia): McConnell Dowell progresses a strategic growth initiative into the New South Wales transport infrastructure market with the award by New South Wales Roads and Maritime Services (RMS) of the infrastructure upgrade contract for Jane Street and Mulgoa Road in Penrith.

McConnell Dowell has previously delivered projects of this nature and civil construction remains a key specialist capability for the company. The Project was formally launched in October 2018 and construction will commence in December 2018. Completion is due in May 2020.

Auckland City Mission (New Zealand): Built Environs has secured the contract to undertake the Mission Home Ground Development Project in Auckland, as part of the City Mission Charitable Trust. This is the first project for Built Environs in New Zealand and cements a strategic entry into the building market.

Hunua 4 S11 (New Zealand): This two-year project is the final stage of the Hunua 4 Watermain Project and will supply water to Auckland's CBD from Redoubt North Reservoir in Manukau. The Hunua 4 S11 project forms part of a large water investment scheme underway by Watercare and will bring important benefits in water security and availability to Auckland and adjacent regions.

These contract awards provide a good start to the new financial year and reflect McConnell Dowell's improved operational state and diversified market offerings. The recent awards total R3.8 billion and take McConnell Dowell's order book to R8.7 billion (Up 17% from 30 June 2018). Most gratifying is the continuation of work from existing customers building on past excellent performance as well as new business won in line with McConnell Dowell's over-arching strategy. With a further potential AUD 1 billion of work in Early Client Involvement (ECI) processes, McConnell Dowell is well positioned to continue to secure additional work in the near term.

The diversification of McConnell Dowell's Order Book highlights the breadth and depth of expertise across its operational areas. Moreover, the market sectors serviced by McConnell Dowell are expected to offer further growth opportunities with the continued roll-out of large- and medium-sized projects across its operating footprint.

Shareholders are hereby advised that the Notice of Annual General Meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Wednesday, 31 October 2018. The Notice of Annual General Meeting contains no modifications to the audited group results for the year ended 30 June 2018, published on SENS and in the media on Tuesday, 25 September 2018. The Integrated Report is available on the Company's website (www.aveng.co.za/financials/annual-reports).

Notice was given that the seventy-fourth Annual General Meeting of shareholders will be held at 09h00 on Tuesday, 4 December 2018 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting.

Salient dates
The Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 19 October 2018, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 23 November 2018 ("Voting Record Date"). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 20 November 2018. Forms of proxy must be lodged by no later than 10h00 on Friday, 30 November 2018 for administrative purposes. Alternatively, such forms of proxy may be handed to the company secretary or chairman at the Annual General Meeting.

Broad-Based Black Economic Empowerment
Shareholders are hereby notified that in accordance with the JSE Listings Requirements, Aveng"s compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based Black Economic Empowerment Act 46 of 2013, has been published and is available on the Group"s website, www.aveng.co.za.

Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018, in relation to the agreement entered into by Aveng and Equites Property Fund Ltd. ("Equites") regarding the proposed disposal of its Jet Park property ("Proposed Transaction").

Further to the abovementioned announcement, the parties have agreed to amend the purchase price payable by Equites for the Jet Park property from ZAR211.2 million, net of commission to ZAR 185,7 million, net of commission, with a possible top up of ZAR 26 million ("Top Up").

The Top Up will be payable upon Aveng obtaining the consent from the South African Civil Aviation Authority, Air Traffic Navigation Services and/or any other relevant airport regulator, for Equites to build on the Jet Park property in excess of 1716 meters above sea level ("Consent"). In order for Aveng to be paid the Top Up, the Consent must be obtained prior to the date on which Equites commences clearing the Jet Park property, following the termination of the lease, as per the sale and lease back agreement.

Posting of Circular
Aveng shareholders are hereby advised that a circular containing full details of the Proposed Transaction and incorporating a notice convening a general meeting of the Company's shareholders (“General Meeting”) for purposes of considering the resolutions necessary to approve the Proposed Transaction (“the Circular”), is being distributed on Monday, 15 October 2018, to all shareholders of the Company registered as such as at Friday, 5 October 2018.

The Circular is also available on the Company's website, namely www.aveng.co.za/investor- centre/shareholders-circulars

Notice of the General Meeting
Notice was given that the General Meeting will be held at Aveng Park, Main Boardroom, Block A, 1 Jurgens Road, Jet Park, 1459 Boksburg on Friday, 16 November 2018 at 09h00, to consider, and, if deemed fit, to approve the resolutions in regard to the Proposed Transaction to be considered thereat, which resolutions are contained in the Circular.

AEG 201810050049A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited has received formal notification on 05 October 2018, that
clients of Coronation Asset Management have, in aggregate, disposed an interest in
the ordinary shares of Aveng, such that the total interest in the ordinary shares of
Aveng held by Coronation Asset Management's clients now amounts to 27.98% of
the total issued ordinary shares of Aveng. The total interest previously held by
Coronation Asset Management's clients was 31.5%.




Jet Park



05 October 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 05/10/2018 03:35:00 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.

AEG 201810030047A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited received formal notification on Tuesday, 02 October
2018, that JPMorgan Chase & Co acquired an interest in the ordinary shares of
Aveng, such that the total interest in the ordinary shares of Aveng held by JPMorgan
Chase & Co now amounts to 20.52% of the total issued ordinary shares of Aveng.
This includes the 16.30% and 4.22% holdings by Highbridge Capital Management,
LLC and J.P. Morgan Securities plc, respectively, being subsidiaries of JPMorgan
Chase & Co. The total interest previously held by JPMorgan Chase & Co was
14.29%.


Jet Park



03 October 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 03/10/2018 03:55:00 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.

In February 2018, Aveng announced the results of its strategic review (“Strategic Review") following a thorough and robust interrogation of all parts of the organisation. The outcome of the review was the adoption by the Board of a new and focused strategy to be an international infrastructure and resources group operating in selected fast-growing markets capitalising on its considerable knowledge and experience. This resulted in identifying the businesses and assets that support its overall long-term strategy and therefore will be core to the Group. As part of this Strategic Review, the Group announced that it intends to dispose of certain non-core assets and properties.

Negotiations with an interested party have successfully concluded a binding agreement and the Board of Aveng has approved the entering into of a sale and purchase agreement (“Proposed Transaction”) with Mathupha Capital (Pty) Ltd. (“Mathupha Capital”) for the sale of the Aveng Rail business, on the conditions set out in this announcement.

Mathupha Capital is a 100% black owned investment company which invests in strategic companies that manufacture products supplied to the rail sector; and design, engineer and construct transport infrastructure. As part of Mathupha's growth strategy, it has been actively exploring opportunities in the rail sector to enable Mathupha Capital to become a fully-fledged railway solution provider. Accordingly, the Proposed Transaction forms an integral part of giving effect to this strategy.

Mathupha Capital is a level 1 Broad-Based Black Economic Empowerment ("B-BBEE") entity, with 100% black ownership.

Particulars of the proposed transaction.
Aveng acting through its wholly owned subsidiary, Aveng (Africa) (Pty) Ltd. (“Seller”), will sell the business of Aveng Rail (“Target Business”). The salient features of the transaction are:
• The Seller agreeing to implement the Proposed Transaction in terms of which (i) a Ltd. liability private company will be incorporated or acquired by the Seller, the entire share capital of which shall be owned by the Seller ("Aveng Rail NewCo") and (ii) the agreed tangible and intangible assets which comprise the Target Business (including the employees employed in respect of the Target Business and short and long-term borrowings relating to the Target Business), being transferred as a going concern by the Seller to Aveng Rail NewCo
• Mathupha Capital will acquire 100% of Aveng Rail Newco from the Seller; and
• A fully funded net transaction consideration of R133 million to be settled in cash
As outlined in the Strategic Review, the proceeds from the sale will be used to strengthen the financial position of the Group and to reduce overall debt.

Consents and Conditions Precedent
The following represent the consents and conditions precedent associated with the Proposed Transaction
• The conclusion of the final and binding agreements which are required and/or normal in transactions similar to the Proposed Transaction;
• The conclusion of a separate purchase agreement for the Aveng Rail factory property between Mathupha Capital and the current landlord; or
• The cession and assignment of the existing lease agreement to Mathupha Capital;
• The completion of a confirmatory due diligence by Mathupha Capital;
• The Seller obtaining the required approvals to enable the cession and assignment by the Seller to Aveng Rail NewCo of its rights and obligations arising from previously agreed joint venture agreements; and
• The parties obtaining all statutory and regulatory approvals, including Competition Commission approval.

Closing Date
The transaction is expected to close no later than 31 December 2018 after all conditions have been met.

Net Asset Value and Loss attributable to the Aveng Rail Business as at 30 June 2018
Aveng Rail was re-classified and reported as Held for Sale in the annual financial statements for the year ended 30 June 2018. As part of this re-classification, the basis of valuation was changed to fair value less cost to sell. The net asset value of the business unit amounted to R215 million prior to the re-classification. The Group recorded an impairment provision of R104 million on re-classification and reported a net asset value of R111 million at 30 June 2018. This excludes the value of various trademarks, names and other intangibles associated with the business unit but held by other Group companies. The Group reported a loss after taxation of R80 million for the year end 30 June 2018 relating to the Aveng Rail business unit.

AEG 201810010079A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng received formal notification that as a result of the Specific Issue
of the shares to the Bondholders ("Specific Issue") as detailed in the announcement
dated Tuesday 11 September 2018, the total interest in the ordinary shares of Aveng
held by:

1. Allan Gray"s clients amounted to 16.24 % of the total issued ordinary
shares of Aveng. Subsequent to this Specific Issue, Allan Gray has
disposed an interest in the ordinary shares of the Company, such that the
total interest in the ordinary shares of the Company held by Allan Gray"s
clients now amounts to 14.44% of the total issued ordinary shares of the
Company.

2. JPMorgan Chase & Co amounts to 14.29% of the total issued ordinary
shares of Aveng. This includes the 10.07% and 4.22% holdings by
Highbridge Capital Management, LLC and J.P. Morgan Securities plc,
respectively, being subsidiaries of JPMorgan Chase & Co.


3. Old Mutual amounted to 5.54% of the total issued ordinary shares of
Aveng. Subsequent to this Specific Issue, Old Mutual has disposed of an
interest in the Ordinary shares of the Company, such that the total interest
in the ordinary shares of Aveng held by Old Mutual now amounts to
1.16% of the total issued ordinary shares of Aveng.




Jet Park



1 October 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 01/10/2018 05:35:00 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.

AEG 201809280065A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited has received formal notification on Thursday, 27
September 2018, that clients of Coronation Asset Management have, in aggregate,
acquired an interest in the ordinary shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Coronation Asset Management clients now
amounts to 31.75 % of the total issued ordinary shares of Aveng. Shareholders are
hereby advised that the acquisition is as a result of the Specific Issue of the shares to
the Bondholders as detailed in the announcement dated Tuesday, 11 September
2018. The total interest held by Coronation Asset Management clients before the
Specific Issue of shares was 20.19%.



Jet Park



28 September 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 28/09/2018 02:15:00 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.

Aveng reported a headline loss of R1.7 billion (2017: R6.4 billion) and a net loss of R3.5 billion (2017: R6.7 billion). This loss includes an impairment charge of R2.3 billion relating to the non-core assets transferred to Held for Sale being measured at fair value. Basic loss per share was 653.9 cents loss per share compared to a 1 245.1 cents loss per share (restated) in the comparative period and headline loss per share decreased to 311.6 cents (2017: 1 197.0 cents restated) loss per share.

Revenue increased by 30% to R30.6 billion (2017: R23.5 billion). Excluding the impact of the write-downs on long outstanding uncertified revenue of R5.1 billion in the prior year, revenue increased by 11% mainly due to improved performance at McConnell Dowell throughout its markets. Despite the challenges it has faced, Moolmans saw a 13% increase in revenue. The gross margin for the Group deteriorated to 5.9% from an adjusted 7.2% in the comparative period due to lower margins in Moolmans, Civil Engineering and Manufacturing.

Company outlook and prospects
A great deal has been achieved to date to place the Group in a more stable position. The capital markets transactions concluded in July and September 2018 provide a much-strengthened capital structure and a solid platform from which to advance the strategic action plan to its successful conclusion. In the short to medium term, the Board and Executive management of Aveng will remain focused on accelerating the Group turnaround. This will include the management of the Group"s liquidity and the disposal of the non-core assets by the targeted deadline of June 2019. In the interim, Aveng will continue to support the individual management teams to ensure that operational and financial performance is stabilised and optimised at each business unit in preparation for sale.

Going forward as an international infrastructure and resources group, the optimisation of both McConnell Dowell and Moolmans is critical to the success of the Aveng Group. Priorities for McConnell Dowell are to convert ECI opportunities into order book and to win work in its target markets and specialist areas. At Moolmans, management will focus on ensuring that the interventions deliver improved operational and financial performance while business development processes are enhanced. Strong employees are the bedrock of the organisation and, as with any change process, Aveng is cognisant of the impact of the uncertainty that this process has had on employees over the previous year. The Group will continue to focus on ways to rebuild morale and enhance the safety, health and wellness of all employees.

Holders of the Issuer"s outstanding 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019 (the “Convertible Bonds”), are referred to the Finalisation Announcement and Specific Optional Redemption Notice published on the Stock Exchange News Service (“SENS”) on 11 September 2018 in which the Issuer gave notice of the early redemption (the “Early Bond Redemption”) of the Convertible Bonds still outstanding as at Tuesday, 25 September 2018 (the “Redemption Date”).

The amount payable by the Issuer in respect of each Convertible Bond so to be redeemed (the “Redemption Amount”) shall be discharged by the Issuer allotting and issuing, on the Redemption Date, to or for the benefit of the relevant holder of such Convertible Bonds such number of Aveng Limited ordinary shares (“Ordinary Shares”) as is determined by dividing the Redemption Amount of each Convertible Bond by ZAR0.10 (10 cents), being the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on Friday, 29 June 2018 (the “Rights Offer Price”).

A detailed breakdown of the Redemption Amount per Convertible Bond is provided in the table below:
Description and Amount
* Initial Principal Amount - R10 000.00
* Capitalised Interest - R362.50
* Initial Principal Amount plus Capitalised Interest - R10 362.50
* Accrued Interest (from and including 24 July 2018 up to but excluding 25 September 2018) - R129.67
* Redemption Amount per Convertible Bond - R10 492.17
* Number of Ordinary Shares to be issued per Convertible Bond (Ordinary Shares issued at R0.10) - 104 921.7

Fractions of Ordinary Shares will not be issued and any fractions of Ordinary Shares will be rounded down to the nearest whole number of Ordinary Shares and the remaining fractional balance settled in cash (the “Fractional Entitlement”). The Fractional Entitlement will be settled by the Issuer, through Strate Limited, to each holder of the Convertible Bonds and is based on the Rights Offer Price. The Issuer wishes to further confirm that no shares will be sold in the market to settle the Fractional Entitlements. However, if the Ordinary Shares to be delivered on the Redemption Date are to be registered in the same name, the number of such Ordinary Shares to be delivered in respect thereof shall be calculated on the aggregate Redemption Amount of such Convertible Bonds being so redeemed and rounded down to the nearest whole number of Ordinary Shares. The remaining fractional balance will be settled in cash at a rate of 10 cents per fractional entitlement, an example of which is provided in the relevant SENS note.

AEG 201809200011A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby
advised that Aveng Limited has received formal notification on 19, September 2018,
that clients of Allan Gray have, in aggregate, disposed an interest in the ordinary
shares of Aveng, such that the total interest in the ordinary shares of Aveng held by
Allan Gray"s clients now amounts to 14.3713 % of the total issued ordinary shares of
Aveng.



Jet Park



20 September 2018


JSE Sponsor
UBS South Africa Proprietary Limited



By Order of the Board

Date: 20/09/2018 08:00:00 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.

Shareholders are referred to the announcement released on SENS on 17 July 2018, wherein shareholders were advised that Ms Edinah Mandizha had been appointed as Aveng's Acting Company Secretary with effect from 17 July 2018.

Shareholders are advised that Ms Mandizha has been appointed as Aveng's Group company secretary, with immediate effect.

In accordance with the terms and conditions of the Issuer"s 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019, as amended on Tuesday, 3 July 2018 (the "Conditions") and the trust deed dated 23 July 2014 between the Issuer and TMF Corporate Services (South Africa) (Pty) Ltd., then known as GMG Trust Company (SA) Proprietary Ltd., relating to such convertible bonds (the "Trust Deed"), the Issuer hereby gives notice, in accordance with Condition 10.2(d) of the Conditions, that the Issuer will early redeem (the "Early Bond Redemption") the convertible bonds then still outstanding (the “Convertible Bonds”) on Tuesday, 25 September 2018 (the "Specific Optional Redemption Date") at an amount for each such Convertible Bond equal to 100% of its Principal Amount plus any capitalised and accrued interest (the “Redemption Amount”) up to the Specific Optional Redemption Date.

Aveng shareholders passed the necessary resolutions at a General Meeting held on Monday, 10 September 2018, to give effect to the specific issue of Aveng Ltd. ordinary shares (“Ordinary Shares”) (the “Specific Issue”), pursuant to the Early Bond Redemption, and the matters incidental thereto.

Having received the approvals necessary to give effect to the Specific Issue, the Issuer hereby gives notice, in accordance with Condition 10.2(d) of the Conditions that the Redemption Amount payable by the Issuer in respect of each Convertible Bond so to be redeemed shall be discharged by the Issuer allotting and issuing, on the Specific Optional Redemption Date, to or for the benefit of the relevant holder of such Convertible Bonds such number of Ordinary Shares as is determined by dividing the relevant Redemption Amount of each Convertible Bond by ZAR0.10 (10 cents), being the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on Friday, 29 June 2018.

A detailed breakdown of the Redemption Amount per Convertible Bond is provided in the table below:
*Initial Principal Amount - R10 000.00
*Capitalised Interest - R362.50
*Initial Principal Amount plus Capitalised Interest - R10 362.50
*Accrued Interest (from and including 24 July 2018 up to but excluding 25 September 2018) - R129.67
*Redemption Amount per Convertible Bond - R10 492.17
*Number of Ordinary Shares to be issued per Convertible Bond (issued at R0.10) - 104 921.7

Fractions of Ordinary Shares will not be issued and any fractions of Ordinary Shares will be rounded down to the nearest whole number of Ordinary Shares and the remaining fractional balance settled in cash. However, if the Ordinary Shares to be delivered on the Specific Optional Redemption Date are to be registered in the same name, the number of such Ordinary Shares to be delivered in respect thereof shall be calculated on the basis of the aggregate Redemption Amount of such Convertible Bonds being so redeemed and rounded down to the nearest whole number of Ordinary Shares and the remaining fractional balance settled in cash and such fractional payments will be announced on SENS on Thursday, 20 September 2018.

Save as otherwise defined herein, words and expressions used in this Notice have the meanings given to them in the Conditions.

The Conditions are available at the registered office of the Issuer and on their website, http://www.aveng.co.za/investor-centre.

The proposed salient dates relating to the Early Bond Redemption are as follows:
*Record date to determine Bondholders entitled to receive Specific Optional Redemption Notice: Friday, 31 August 2018
*Last Date to Trade ; Tuesday, 18 September 2018
*Ex-date and Convertible Bonds suspended on the Main Board of the JSE Ltd. (“JSE”) - Wednesday, 19 September 2018
*Fractional payments announcement on SENS, by 11:00 Thursday, 20 September 2018
*Record date for Convertible Bond Redemption : Friday 21 September 2018
*Convertible Bond Redemption : Tuesday 25 September 2018
*Ordinary Shares issued and CSDP or broker accounts updated : Tuesday, 25 September 2018
*Convertible Bonds terminated on the JSE : Wednesday 26 September 2018

Aveng shareholders are advised that at the general meeting held on 10 September 2018, the requisite majority of shareholders approved all the resolutions, as set out in the notice of the general meeting, necessary to proceed with the early redemption (the "Early Bond Redemption") of the convertible bonds still outstanding (the ”Convertible Bonds”) and the issue of new Aveng shares at the rights offer price of 10c (“Specific Issue”).

As such, Aveng announced that the implementation of the Specific Issue is unconditional and will proceed according to the timing set out below.

The positive vote by shareholders t in favour of the Specific Issues of Aveng ordinary shares to settle the Convertible Bonds before their July 2019 maturity date is a clear vote of confidence in the Company's strategic action plan. Aveng remains firmly of the view that the implementation of the Early Bond Redemption is in the best interest of all its stakeholders. The positive vote by shareholders is an important step forward in this process. The implementation of the Specific Issue, which shares are to be issued on Tuesday, 25 September 2018, will complete one of the pillars of the strategic action plan. This provides a platform that allows the Company to complete the execution of the other pillars of the strategic action plan.

Management and the Board is encouraged by the level of support for the strategy received from major stakeholders. This includes the Company's largest single shareholder Aton, who have engaged with the Company in a positive manner and have expressed their support for Aveng's continued independent future.

Salient Dates of the Early Bond Redemption
* Last Date to Trade to determine which bondholders are to be issued new Aveng shares in the Early Bond Redemption: Tuesday, 18 September
* Ex-date and the listing of the Convertible Bonds suspended on the Main Board of the JSE: Wednesday, 19 September
* Record date to determine which bondholders are to be issued new Aveng shares in the Early Bond Redemption: Friday 21 September
* Early Bond Redemption: Tuesday 25 September
* Ordinary shares issued to bondholders and CSDP or broker accounts updated: Tuesday, 25 September
* Convertible Bonds terminated on the JSE: Wednesday 26 September

Aveng announced its strategic action plan in February 2018 following the completion of a thorough strategic review, which was undertaken with the assistance of an independent advisor. The aim of the strategic action plan was to create a robust and sustainable group. Following the announcement, the implementation of the strategic action plan has focused on:
* Ensuring a long term sustainable capital structure for the Group
* Creating liquidity through the sale of non-core businesses and assets; and
* Increased focus on our core businesses.

Trading statement
Shareholders are advised that the headline loss per share (“HEPS loss”) for the 12 months ended 30 June 2018 will be more than 100% better than the comparative period. The HEPS loss will be between 297 cps and 329 cps, compared to a reported loss of 1625.3 cps in 2017 (adjusted for the deemed bonus element of the rights offer, 1196.9 cps in 2017), while the headline loss for the year will be between R1 602 million and R1 770 million, compared to a loss of R6 449 million in 2017.

The basic loss per share (“EPS loss”) will be more that 100% better than the comparative period. The EPS loss will be between 607 cps and 671 cps, compared to a reported loss of 1690.6cps in 2017 (adjusted for the deemed bonus element of the rights offer, 1245.0 cps in 2017), with basic loss in earnings of between R3 272 million and R3 616 million for the year, compared to a loss of R6 708 million in 2017.

4 931 854 395 Shares were taken up during the rights issue. The shares were only issued on 2 July 2018 resulting in an event after the reporting date. Consequently, the issued ordinary shares will only increase in the 2019 financial year. However, the weighted average number of shares for the review period and prior corresponding period have been adjusted in accordance with IAS 33, Earnings Per Share, in order to account for the deemed bonus element inherent in the rights issue as a result of the Rights Offer being priced at a discount to the market share price.

The Group is currently in the process of completing its financial statements and finalising the yearend audit. The Group will release its results for the financial year ended 30 June 2018 on 25 September 2018.

In accordance with the terms and conditions of the Issuer"s 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019, as amended on Tuesday, 3 July 2018 (the "Conditions") and the trust deed dated 23 July 2014 between the Issuer and TMF Corporate Services (South Africa) Proprietary Limited, then known as GMG Trust Company (SA) Proprietary Limited relating to such convertible bonds (the "Trust Deed"), the Issuer hereby gives notice, in accordance with Condition 10.2(d) of the Conditions, that the Issuer intends to early redeem (the "Early Bond Redemption") the convertible bonds then still outstanding (the ”Convertible Bonds”) on Tuesday, 25 September 2018 (the "Specific Optional Redemption Date") at an amount for each such Convertible Bond equal to 100% of its Principal Amount plus any capitalised and accrued interest (the “Redemption Amount”) up to the Specific Optional Redemption Date.

The Early Bond Redemption is conditional on receiving approval from Aveng shareholders to pass the
necessary resolutions at a General Meeting to be held on Monday, 10 September 2018 to give effect to the specific issue of Aveng Limited ordinary shares (the “Specific Issue “) and the matters incidental thereto. The circular containing details of the Specific Issue and incorporating a notice of general meeting was distributed to Aveng shareholders on Friday, 10 August 2018.

Subject to and conditional upon Aveng receiving the approvals to give effect to the Specific Issue, the Issuer hereby gives notice, in accordance with Condition 10.2(d) of the Conditions that the Redemption Amount payable by the Issuer in respect of each Convertible Bond so to be redeemed shall be discharged by the Issuer allotting and issuing, on the Specific Optional Redemption Date, to or for the benefit of the relevant holder of such Convertible Bonds such number of Ordinary Shares as is determined by dividing the relevant Redemption Amount of each Convertible .10 (10 cents), being the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on Friday, 29 June 2018. Final details regarding the redemption, including the final redemption amount per Convertible Bond will be confirmed and announced (“the Finalisation Announcement”) on or before the Finalisation Date being, Tuesday, 11 September 2018.

Save as otherwise defined herein, words and expressions used in this Notice have the meanings given to them in the Conditions. The Conditions are available at the registered office of the Issuer and on their website, http://www.aveng.co.za/investor-centre

The proposed salient dates relating to the redemption are as follows and will be confirmed in the Finalisation Announcement: 2018
*Record date to determine Bondholders entitled to receive Specific Optional Redemption Notice: Friday, 31 August
*Declaration Date of Bond Redemption (via Strate) and announced on SENS: Tuesday, 4 September
*Finalisation Date of Bond Redemption and notice of Specific Optional Redemption (via Strate) and announced on SENS: Tuesday, 11 September
*Last Date to Trade Tuesday, 18 September
*Ex-date and Convertible Bonds suspended on the Main Board of the JSE Limited Wednesday, 19 September
*Record date for Convertible Bond Redemption Friday 21 September
*Convertible Bond Redemption Tuesday 25 September
*Convertible Bonds terminated on the JSE Wednesday 26 September

Shareholders are hereby advised that Mr Joseph Juba Angelo Mashaba has resigned as Aveng Group executive director with effect from 31 August 2018.

Bondholders are referred to the notice of meeting released on SENS on 8 August 2018, the meeting of which was held on Thursday, 30 August 2018 at the offices of Baker McKenzie at 1 Commerce Square, 39 Rivonia Road, Sandhurst, Johannesburg, 2196 (“the Bondholders Meeting”) at which the extraordinary resolution set out below was considered.

Extraordinary resolution number 1:
To the extent that the Issuer early redeems the Bonds pursuant to Condition 10.2(d) of the Conditions through the issue of new ordinary shares, the bondholders hereby approve such redemption of the bonds then outstanding at 100% of their Principal Amount, together with accrued interest by allotting and issuing to or for the benefit of the relevant holder of each such Bond such number of ordinary shares as is determined by dividing the relevant redemption amount of the Bond by the price at which the Issuer issued ordinary shares pursuant to the rights offer implemented by the Issuer on 29 June 2018, being 10 cents per ordinary share.

Aveng shareholders are referred to the announcement released on SENS on Wednesday, 8 August 2018 in which Aveng gave an update on the Early Bond Redemption. Capitalised terms used in this announcement are as defined in previous SENS announcements.

Aveng is pleased to announce the final terms of the Early Bond Redemption which is subject to final Shareholder and Existing Convertible Bondholder approval. The settlement of the Existing Convertible Bonds will consist of:
* The specific buyback of R657.15 million of Existing Convertible Bonds (including accrued interest) at a price of 70% of par, for a price of R460 million ("Specific Bond Buyback").
* The issue of a new debt instrument of R460 million to Participating Bondholders, the terms of which will rank pari passu with Aveng bank debt.
* The redemption of all outstanding Existing Convertible Bonds at par through a specific issue of Aveng Ordinary Shares at 10c, equivalent to the Rights Offer Price ("Specific Issue").

Salient dates
The salient dates in relation to the bondholder and shareholder meetings are outlined below:
*Meeting of Existing Convertible Bondholders to be held at 10:00 on Thursday, 30 August 2018
*Record date to participate in and vote at the General Meeting - Friday, 31 August 2018
*Last day and time to give notice to participate in the General Meeting electronically by 12:00 on Thursday, 6 September 2018
*Last day to lodge forms of proxy with the Transfer Secretaries to vote at the General Meeting by 09:00 on Thursday, 6 September 2018
*General Meeting of Shareholders to be held at 09:00 on Monday, 10 September 2018
*Results of General Meeting announced on SENS on Monday, 10 September 2018

Pursuant to obtaining the approval of the bondholders and shareholders as set out in paragraph above, the estimated date on which the Early Bond Redemption and thus the Specific Issue is to take place is on Tuesday, 25 September 2018.

Withdrawal of cautionary announcement
All information in relation to the Capital Markets Transaction has been announced and as such the cautionary relating to the Capital Markets Transaction is withdrawn.

Aveng Shareholders are referred to the announcements released on SENS on Thursday, 2 August 2018 and earlier today respectively, in which Aveng announced its intention to proceed with the implementation of the Capital Markets Transaction and specifically the Early Bond Redemption. Capitalised terms herein are as defined in previous SENS announcements.

The current debt levels within Aveng are considered to be unsustainable, and in particular the Existing Convertible Bonds are creating significant constraints on the Aveng liquidity position. It is therefore imperative for Aveng to early redeem the Existing Convertible Bonds in order to ensure the future sustainability of the Company.
Aveng is pleased to announce the proposed terms of the Early Bond Redemption which is subject to final Shareholder and Existing Convertible Bondholder approval. The settlement of the Existing Convertible Bonds will consist of:
• The specific buyback of up to R643 million of Existing Convertible Bonds at a price of 70% of par, for a price of up to R450 million (“Specific Bond Buyback”). The Specific Bond Buyback is conditional on the final Participating Bondholders (as defined in paragraph 2.3.1) shareholding as per paragraph 2.3.1.
• The issue of a new debt instrument of up to R450 million to Participating Bondholders (as defined in paragraph 2.3.1), the terms of which will rank pari passu with Aveng bank debt.
• The redemption of all outstanding Existing Convertible Bonds at par through a specific issue of Aveng Ordinary Shares at 10c, equivalent to the Rights Offer Price. The number of shares to be issued is dependent on the final size of the Specific Bond Buyback (“Specific Issue”).

The Early Bond Redemption is conditional on:
• Approval from Existing Convertible Bondholders to pass the necessary resolutions to redeem the Existing Convertible Bonds in the issue of Aveng Ordinary Shares; and
• Approval from Aveng Shareholders to pass the necessary resolutions to give effect to the Specific Issue and the matters incidental thereto.

The Specific Bond Buyback and the Early Bond Redemption will reduce Aveng's total debt position to c.R2.45 billion, assuming all facilities are fully drawn, a c.40% reduction to current debt.

The circular which contains details of the Specific Issue and incorporating a notice of general meeting (“General Meeting”), will be distributed to Aveng Shareholders on Friday, 10 August 2018.

Notice of General Meeting and salient dates Notice is hereby given that the General Meeting will be held at the Company's registered office, Aveng Park, 1 Jurgens Street, Jet Park, Boksburg, at 09.00am on Monday, 10 September 2018 in order to pass the resolutions required to approve the Specific Issue. Salient dates pertaining to the General Meeting will be published in the notice of general meeting, which will be posted to shareholders on Friday, 10 August 2018 and are detailed below.

Record date to be entitled to receive the Circular incorporating the notice convening the General Meeting - Friday, 3 August 2018
Circular and Notice of General Meeting posted to Shareholders and announced on SENS on Friday, 10 August 2018
Last day to trade in order to be eligible to attend and vote at the General Meeting - Tuesday, 28 August 2018
Meeting of Existing Convertible Bondholders to be held at 09:00 on Thursday, 30 August 2018
Record date to participate in and vote at the General Meeting - Friday, 31 August 2018
Last day and time to give notice to participate in the General Meeting electronically by 12:00 on Thursday, 6 September 2018
Last day to lodge forms of proxy with the Transfer Secretaries to vote at the General Meeting by 09:00 on Thursday, 6 September 2018
General Meeting of Shareholders to be held at 09:00 on Monday, 10 September 2018
Results of General Meeting announced on SENS on Monday, 10 September 2018

Renewal of cautionary announcement
The Capital Markets Transaction is still ongoing and accordingly shareholders of Aveng are advised to continue exercising caution when dealing in their securities until the full details pertaining to the Early Bond Redemption are announced.

AEGCB AEG 201808080059A
NOTICE OF BONDHOLDERS" MEETING

AVENG LIMITED
Incorporated in the Republic of South Africa

(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB

JSE 2019 Convertible Bond ISIN: ZAE000194940
(“Aveng” or “the Issuer”)




NOTICE OF BONDHOLDERS" MEETING


In accordance with the terms and conditions of the Issuer"s 7.25% senior unsecured convertible
registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds"), as amended on Tuesday, 3
July 2018 (the "Conditions") and the trust deed dated 23 July 2014 between the Issuer and TMF
Corporate Services (South Africa) Proprietary Limited, then known as GMG Trust Company (SA)
Proprietary Limited (the "Trust Deed"), notice is hereby given, in accordance with Condition 20.4
(Notice of Meeting) of the Conditions, that a meeting of the Bondholders will be held at 10h00 on
Thursday, 30 August 2018 at the offices of Baker McKenzie at 1 Commerce Square, 39 Rivonia Road,
Sandhurst, Johannesburg, 2196 (the "Bondholders Meeting"), at which meeting the Extraordinary
Resolutions set out below will be considered and, if deemed fit, passed with or without modification.

Save as otherwise defined, words and expressions used in this Notice have the meanings given to them
in the Conditions.

The Conditions are available at the registered office of the Issuer and on their website,
http://www.aveng.co.za/investor-centre

WHEREAS:
1. As previously announced on SENS (including the SENS announcements released on 18 and 29
May 2018, copies of which are attached as Annexure B), the Issuer intends to early redeem the
Convertible Bonds still in issue (the "Early Bond Redemption"). In this regard, the Issuer
intends to implement the Early Bond Redemption pursuant to Condition 10.2(d) of the
Conditions as follows:

(a) The Convertible Bonds then in issue will be early redeemed through the issue by the
Issuer, of new Ordinary Shares to the relevant holders of those Convertible Bonds
(the “Bondholders”). If the Early Bond Redemption is implemented in this fashion,
the Bondholders will have to approve same under Condition 10.2(d) of the
Conditions.
2. Pursuant to Condition 20.4, read with Condition 18 (Notices), of the Conditions, the Issuer
hereby gives notice to Bondholders of a meeting of Bondholders to discuss and vote on the
manner in which the Convertible Bonds then in issue will be redeemed pursuant to Condition
10.2(d) of the Conditions. Condition 10.2(d) requires the Bondholders to approve the
redemption of the Bonds then outstanding at 100% of their Principal Amount, together with
accrued interest by allotting and issuing to or for the benefit of the relevant holder of each such
Bond such number of Ordinary Shares as is determined by dividing the relevant redemption
amount of the Bond by the price at which the Issuer issued Ordinary Shares pursuant to the
rights offer implemented by the Issuer on 29 June 2018, being 10 cents per Ordinary Share.
3. In terms of Condition 20.4 of the Conditions, read together with paragraph 7.27(a) of the JSE
Debt Listing Requirements and section 62 of the Companies Act, 2008, the Issuer is required
to give the Bondholders and the Trustee written notice of a meeting at least 15 business days
prior to the date of the meeting.
4. To the extent that the redemption of the Convertible Bonds is settled in Ordinary Shares,
fractions of Ordinary Shares will not be issued or transferred and delivered on redemption and
any fractions of Ordinary Shares will be rounded down to the nearest whole number of Ordinary
Shares and the remaining fractional balance settled in cash.

5. The Issuer therefore requests the Bondholders to approve the Extraordinary Resolution set out
below.

PROXIES
1. In terms of Condition 20.10 (Proxies and Representatives), a Bondholder may by an instrument
in writing (a "proxy form") signed by the Bondholder or his duly authorised agent or, in the
case of a juristic person, signed on its behalf by a duly authorised officer, appoint any person
(a "Proxy") to act on its behalf in connection with any meeting or proposed meeting.
2. A person appointed to act as Proxy need not be a Bondholder.
3. A proxy form is attached as Annexure A for those Bondholders who wish to be represented by
proxy at the Bondholders Meeting.
4. Please note that the proxy form must be deposited at the specified office of the Issuer or at the
specified office of Computershare Investor Services Proprietary Limited (the “Transfer
Agent”), as the case may be, not less than 24 hours before the time appointed for holding the
Bondholders Meeting or adjourned meeting at which the person named in such proxy form
proposes to vote.

5. Either the original form must be deposited at the specified office of the Issuer or at the specified
office of the Transfer Agent, or a copy of the form may be scanned and emailed to the Issuer or
the Transfer Agent (with the original to follow shortly thereafter). Address details are provided
below:

Issuer office Transfer Agent office
Aveng Limited Computershare Investor Services
Proprietary Limited
1 Jurgens Street
Rosebank Towers
Jet Park
15 Biermann Avenue
Boksburg
Rosebank
1459
2196


Attention: Proxy Department
Attention: Edinah Mandikutse
Email: edinah.mandikutse@avenggroup.com Nomalanga Goba/ Khalid Cassim
Tel: 011 779 2812 Email: proxy@computershare.co.za
Tel: 011 370 5302


6. If a proxy form has not been deposited at the specified office of the Issuer or at the specified
office of the Transfer Agent at least 24 hours before the time appointed for holding the
Bondholders Meeting or adjourned meeting at which the person named in such proxy form
proposes to vote, the proxy form may be delivered to the Chairman of the meeting upon
commencement of the meeting.
7. Please note that in accordance with Condition 20.9 (Votes), Bondholders in respect of
Convertible Bonds held in the Central Securities Depository in uncertificated form shall vote at
the Bondholders Meeting on behalf of the holders of Beneficial Interests in such Bonds, in
accordance with the instructions to the Central Securities Depository"s Nominee from the
holders of Beneficial Interests conveyed through the Participants in accordance with the
Applicable Procedures.
8. If the Central Securities Depository Participant ("CSDP") of a holder of Beneficial Interests
does not contact such holder, then such holder is advised to contact such holder"s CSDP and
provide such CSDP with the holder"s voting instructions.
9. Following the Bondholder Meeting, the Transfer Agent will collate the votes and provide the
Issuer with the voting outcome by no later than 17h00 on Thursday, 30 August 2018. The
results of the meeting will be released on SENS within 48 hours of the Bondholders meeting.



IT IS RESOLVED THAT
Extraordinary Resolution Number 1:
To the extent that the Issuer early redeems the Bonds pursuant to Condition 10.2(d) of the Conditions
through the issue of new Ordinary Shares, the Bondholders hereby approve such redemption of the
Bonds then outstanding at 100% of their Principal Amount, together with accrued interest by allotting
and issuing to or for the benefit of the relevant holder of each such Bond such number of Ordinary
Shares as is determined by dividing the relevant redemption amount of the Bond by the price at which
the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on 29 June
2018, being 10 cents per Ordinary Share.
The Bondholders further instruct and authorise the Trustee to conclude whatever documents may be
required to give effect to these resolutions.


The salient dates relating to the Bondholders Meeting are as follows:

2018

Record date to determine Bondholders entitled to receive Notice of Friday, 3 August
Bondholder Meeting:

Distribution date (via Strate) and announced on SENS: Wednesday, 8 August

Last date to trade to be eligible to attend and vote at the Bondholders Tuesday, 21 August
meeting:
Record date to be eligible to attend and vote at the Bondholders Friday, 24 August
meeting:

Forms of Proxy should be lodged with Issuer or Transfer Agent no Wednesday, 29 August
later than 10h00 *:

Bondholders Meeting at 10h00 (Proxies may be delivered to the Thursday, 30 August
Chairman of the meeting, at the meeting):

Results of the Bondholders Meeting announced on SENS 24 to 48 hours post
Bondholder Meeting

* If a proxy form has not been deposited at the specified office of the Issuer or at the specified office of the Transfer
Agent at least 24 hours before the time appointed for holding the Bondholders Meeting or adjourned meeting at which
the person named in such proxy form proposes to vote, the proxy form may be delivered to the Chairman of the
meeting upon commencement of the meeting.




1. The following Annexures have been included in the notice of meeting distributed by
STRATE to the CSDPs and may be located on the website of the Issuer at
http://www.aveng.co.za/investor-centre/shareholders-circulars


Annexure Document

A Proxy Form
B SENS Announcement of the Issuer dated 18 May 2018
B SENS Announcement of the Issuer dated 29 May 2018
C Extract of Condition 10.2 from the Conditions



8 August 2018
Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Aveng
Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com




5
6

Date: 08/08/2018 05:47:00 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.

Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018 as well as the Murray & Roberts Holdings Ltd. ("M&R") announcement published on SENS earlier this morning in relation to the potential combination of M&R and Aveng, stating that M&R has given Aveng formal notice that it will no longer be pursuing the M&R Transaction (as defined in previous announcements). The Company confirms that it is in receipt of such formal notice from M&R.

Capital Markets Transaction
As detailed in the announcement released on SENS on Thursday, 2 August 2018, Aveng remains of the view that the implementation of the Early Bond Redemption (as defined in previous SENS announcements) as soon as practically possible is in the best interest of all stakeholders and as such, given the recent developments in relation to the M&R transaction described above, the Company intends to continue with its Capital Markets Transaction (as defined in previous SENS announcements) and specifically the Early Bond Redemption. Deleveraging the Company to reduce its debt burden and to improve liquidity is critical to unlock value for Aveng shareholders.

Further detail in relation to the Early Bond Redemption is expected to be announced in due course.

Cautionary announcement
Shareholders are advised that the cautionary in relation to the M&R transaction is withdrawn. Shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made in relation to the Capital Markets Transaction.

In February 2018, Aveng announced the results of its strategic review (the "Strategic Review") following a thorough and robust interrogation of all parts of the organisation to identify businesses and assets that support its long-term strategy of becoming an international infrastructure and resources group with a footprint in developing and fast-growing regions and with access across the chosen markets. As part of this Strategic Review, the Group announced that it intends to dispose of certain non-core assets and properties. As part of this strategy the Group has reached agreement on the disposal of two properties, namely Jet Park and the Van der Bijl Park property.

Jet Park Sale
The Group has entered into a binding term sheet for the sale of its Jet Park offices located in Boksburg to Equites Property Fund Limited (“Equites”). The salient features of the transaction are:
*Sale proceeds of R211.2m, net of commission;
*Aveng will enter into a triple net lease on the property for a maximum of 24 months, but with the ability for Aveng to terminate the lease with 3 months notice; and
*market related monthly rental of R1.1m, subject to an annual escalation of 8%.

The transaction is subject to conditions precedent that are normal for such transactions, including the signing of the necessary transaction documentation, Equites successfully concluding a due diligence within 21 days from date of signature of final agreements and the parties are obtaining the necessary regulatory approvals and consents. It is expected that the transaction will be effective by 1 December 2018, with transfer of the property taking place as soon as reasonably possible thereafter.

The above transaction is a Category 1 transaction in terms of section 9 of the JSE Listings Requirements and accordingly requires shareholder approval. A circular detailing the terms of the transaction and incorporating a notice convening a general meeting of Aveng shareholders will be posted to Aveng shareholders in due course.

Van der Bijl Park Sale
The Group has agreed to accept an offer of R42.6m from Stodasat (Proprietary) Limited for the van der Bijl Park property following an auction process. The transaction is not subject to any conditions precedent. The transfer is expected to be complete by 30 September 2018, subject to any delays in the conveyancing process. This transaction is a Category 2 transaction in terms of section 9 of the JSE Listings Requirements.

Use of proceeds
As outlined in the Strategic Review, the proceeds from the two sales will be used to strengthen the financial position of the Group and to reduce overall debt.

Financial information
* The net asset value and profits attributable to the Jet Park Sale as at 31 December 2017 are as follows: R124.4m and R86.8m.
*The net asset value and loss attributable to the van der Bijl Park Sale as at 31 December 2017 are as follows: R100.0m and R57.4m.

The above financial information was extracted from the Group"s reviewed interim condensed consolidated financial statements for the six months ended 31 December 2017 which have been prepared in accordance with International Financial Reporting Standards. Given the nature of these sale assets, there is no net profit before tax attributed to these sale assets for the period ended 31 December 2017.

Aveng shareholders are referred to the M&R announcement published on SENS earlier this morning in relation to the ruling by the Takeover Special Committee which (i) overturned the Takeover Regulation Panel approval granted to M&R in terms of section 126 of the Companies Act, 2008 on 21 June 2018; and (ii) prohibits M&R from continuing to develop the potential combination of M&R and Aveng whilst the mandatory offer by Aton GmbH in relation to M&R remains in place.

M&R's intention to further engage with the Company is noted. At time of this announcement, no formal correspondence has been received from M&R in this regard.

Capital Markets Transaction and Disposals
Given the above development in relation to the M&R transaction, the Company continues with its Capital Markets Transaction (as defined in previous SENS announcements) and specifically the Early Bond Redemption; and the disposal of non-core assets and properties.

As previously communicated, Aveng remains of the view that the implementation of the Early Bond Redemption as soon as practically possible is in the best interest of all stakeholders, should the M&R offer not be made within a reasonable time period. Deleveraging the Company to reduce its debt burden and to improve liquidity is critical to unlock value for Aveng shareholders.

The Company anticipates the announcement of the detailed terms of the Early Bond Redemption during the week of 10 August 2018.

Date of results announcement
The Company will release its results for the financial year ended 30 June 2018 on Tuesday, 25 September 2018. The postponement from the scheduled date of 21 August 2018 is to allow sufficient time to incorporate and report on the effect of the various corporate actions previously announced on SENS.

Cautionary announcement
Shareholders are accordingly advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made.

Shareholders are referred to the announcement released on SENS on 4 May 2018, wherein shareholders were advised that Ms Michelle Nana had resigned as Aveng's Group Company Secretary with effect from 30 June 2018.

Shareholders are advised that Ms Edinah Mandizha has been appointed as Aveng's acting company secretary, with immediate effect.

Shareholders are referred to the cautionary announcements released on the Stock Exchange News Service on 29 April 2018, 18 May 2018 and 29 May 2018. Aveng continues to progress both the Capital Markets Transaction (as defined in the previous SENS announcements) and engagement with Murray & Roberts in relation to the M&R Transaction (as defined in the previous SENS announcements), having regard to and considering the impact of Aton"s acquisition of a 25.4 % interest in the Company.

These transactions, if successfully concluded, may have a material effect on the price of the Company's securities.

Accordingly, shareholders of Aveng are advised to continue exercising caution when dealing in their securities until further details pertaining to the Capital Markets Transaction and the M&R Transaction are announced.

AEG 201807060022A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
Share code: AEG
Share ISIN: ZAE000194940
("Aveng", "the Company")

Disclosure of Beneficial Interest in Securities

In accordance with Section 122 (3) (b) of the Companies Act 71 of 2008 (“the Act”) and Para 3.83 (b) of
the JSE Limited Listings Requirements, shareholders are hereby advised that Aveng has received formal
notification on 5 July 2018, that Aton GmbH and its wholly owned subsidiary Aton Austria Holdings
GmbH, have in aggregate, acquired an interest in the ordinary shares of Aveng, such that the total
interest in the ordinary shares of Aveng now amounts to 25.42% of the total issued ordinary shares of
Aveng.



Jet Park
6 July 2018

JSE Sponsor
UBS South Africa Proprietary Limited

Legal advisors
Baker McKenzie



Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

Date: 06/07/2018 12:52:00 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.

The Issuer has received approval from the Bondholders of Aveng's ZAR 2 000 000 000, 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds"), and subsequently, from the JSE for the amended Terms and Conditions of the Convertible Bonds.

The key amendments to the Terms and Conditions include:
* Condition 8.1 (b) relating to Interest on Bonds was amended. The result of this amendment is that interest due in respect of each Interest Period will be payable in arrears on the Interest Payment Date in respect of such Interest Period, either in cash or by capitalising same, in which event the Principal Amount of each Bond will be deemed to have been increased accordingly; and
* Condition 10.2 (d) relating to Redemption at the Option of the Issuer was inserted. The result of this amendment is that, subject to certain conditions, the Issuer may redeem all but not some only of the Bonds at an amount for each Bond to be proposed by the Issuer and approved by Extraordinary Resolution together with accrued interest. Unless redeemed at 100% of its Principal Amount together with accrued interest, in cash, the percentage of its Principal amount at which each Bonds is redeemed is subject to Bondholder approval at a Bondholder meeting.

The redemption amount payable by the Issuer shall be discharged as follows:
• the Issuer making a cash payment to or for the benefit of the relevant holder the Bonds; and/or
• the Issuer allotting and issuing to or for the benefit of the relevant holder of such Bonds such number of Ordinary Shares as is determined by dividing the relevant redemption amount of the Bonds by the price at which the Issuer issued Ordinary Shares pursuant to the rights offer implemented by the Issuer on or about 29 June 2018.

The salient dates surrounding the redemption will be announced once finalised.

The Supplement to the Convertible Bonds is available at the registered office of the Issuer and on their website, http://www.aveng.co.za/investor-centre

AEG 201807030038A
Dealings in securities by director

Aveng Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
Share Code: AEG
(“Aveng”)

DEALINGS IN SECURITIES BY DIRECTOR

In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following
transaction by a director in terms of the rights offer by Aveng, as announced on SENS on Thursday,
7 June 2018:

Director : Micheal Kilbride
Company : Aveng Limited
Date of transaction : Friday, 29 June 2018
Nature of transaction : Off-market purchase of shares in
terms of the rights offer
Number of securities : 119 999
Class of securities : Ordinary shares offered in
terms of the rights offer
Rights issue price : 10 cents per share
Total value of transaction : R11 999.90
Nature of transaction : Direct beneficial
Clearance obtained : Yes


Johannesburg
3 July 2018

Transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)



Date: 03/07/2018 02:00:00 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.

AEGCB AEG 201807030034A
Notification of the Capitalisation of Interest

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
(“Aveng” or “the Issuer”)


NOTIFICATION OF THE CAPITALISATION OF INTEREST

Bondholders are referred to the SENS released today, confirming the voting results from the
Bondholders Meeting held on 3 July 2018 in which Bondholders approved the amendments to the
Terms and Conditions of the Issuer"s ZAR 2,000,000,000.00, 7.25% senior unsecured convertible
registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds").

Bondholders are specifically advised that Condition 8.1 (b) relating to Interest on Bonds has been
amended with immediate effect. The result of this amendment is that interest due in respect of each
Interest Period is payable in arrears on the Interest Payment Date in respect of such Interest Period,
either in cash or by capitalising same, in which event the Principal Amount of each Bond will be
deemed to have been increased accordingly.

The Issuer will calculate the Interest Amount payable in respect of each Bond for each Interest Period.
The Interest Amount for half yearly interest payments shall be calculated by multiplying the Interest
Rate by the Principal Amount of the Bond and then dividing such product by two with the resultant
sum being rounded to the nearest cent and consequently half a cent being rounded upwards. Should
interest be required to be calculated for a period of other than six months, in the case of semi-annual
interest payments, such interest shall be calculated on the basis of a 365 day year and the actual
number of days elapsed in such period.

Accordingly, for the current interest period, the Issuer confirms that the interest will be capitalised in
accordance with the amended terms and conditions.

3 July 2018

Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Aveng
Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

Date: 03/07/2018 01:01:00 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.

AEGCB AEG 201807030033A
Notification of the Voting Results in Respect of Bondholders Meeting

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940
(“Aveng” or “the Issuer”)


NOTIFICATION OF THE VOTING RESULTS IN RESPECT OF BONDHOLDERS MEETING

Bondholders are referred to the notice of meeting released on SENS on 12 June 2018, the meeting of which was held today, 3 July 2018 at the offices of
Baker McKenzie at 1 Commerce Square, 39 Rivonia Road, Sandhurst, Johannesburg, 2196 (“the Bondholders Meeting”) at which the Extraordinary
Resolution set out below was considered.

Extraordinary Resolution Number 1: Amendment of Terms and Conditions of the Convertible Bonds

The Bondholders hereby approve the amendments to the Terms and Conditions of the Convertible Bonds as set out in the document attached to the notice of
the Bondholders" meeting at which this Extraordinary Resolution was approved and as initialled by the chairman of the meeting for identification purposes.
The Bondholders further instructs and authorises the Trustee to conclude whatever documents may be required in order to give effect to these amendments
and these resolutions.

In this regard, the Issuer confirms the voting results from the Bondholders Meeting in relation to the total nominal amount of all debt securities of the Issuer
as follows:

Extraordinary Debt securities voted Debt securities voted in Votes abstained as a Votes carried for Votes against
Resolution in person or by proxy person or by proxy percentage resolution as a resolution as a
disclosed as a number disclosed as a percentage percentage
(each bond has a percentage
Principal value of
R10,000.00)

Number 1 164,881 82% 0% 96.36% 3.64%


3 July 2018

Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Aveng
Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

Date: 03/07/2018 01:00:00 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.

Aveng shareholders are referred to the announcement released on the Stock Exchange News Service on 5 June 2018, declaring the company's intention to undertake a renounceable Rights Offer (“Rights Offer”) to Qualifying Shareholders, as defined in the Rights Offer circular dated 14 June 2018 (“Rights Offer Circular”), to raise up to R500 million.

The Rights Offer consisted of an offer of 5 billion new ordinary Aveng shares (the “Rights Offer Shares”) to be issued in the ratio of 1199.98772 Rights Offer Shares for every 100 ordinary Aveng shares held on the record date for the Rights Offer, at a subscription price of R0.10 per Rights Offer Share (“Rights Offer Price”).

Results of the Rights Offer
The Rights Offer closed at 12:00 (South African time) on Friday, 29 June 2018. The total number of Rights Offer Shares subscribed for and excess allocations applied for was 4 931 854 395 Rights Offer Shares, representing 98.6% of the Rights Offer. Following the Rights Offer, the total number of Aveng shares in issue (including treasury shares) will be 5 348 525 326. An aggregate amount of c.R493.2 million will be raised by the company.

Working capital statement
Aveng shareholders are referred to the working capital statement contained in the Rights Offer Circular.

Issue of Rights Offer Shares
Share certificates will be posted to holders of certificated shares who have followed their rights on Monday, 2 July 2018.

The CSDP or broker accounts of holders of dematerialised shares or their renouncees, who have followed their rights, will be credited with the Rights Offer Shares and debited with any payments due on Monday, 2 July 2018.

Excess applications
Excess applications have been allocated in full.

Share certificates will be posted to holders of certificated shares, who have been allocated excess Rights Offer Shares on Wednesday, 4 July 2018.

The CSDP or broker account of holders of dematerialised shares who have been allocated excess Rights Offer Shares, will be credited with the excess Rights Offer Shares and debited with the payments due on Wednesday, 4 July 2018.

AEG 201806290105A
Dealings in securities by directors

Aveng Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
Share Code: AEG
(“Aveng”)

DEALINGS IN SECURITIES BY DIRECTORS

In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following
transactions by directors in terms of the rights offer by Aveng, as announced on SENS on Thursday,
7 June 2018:

Director : Adrian Henry Macartney
Company : Aveng Limited
Date of transaction : 25 June 2018
Nature of transaction : On market sale of letters of allocation
in terms of the rights offer
Number of securities : 21 580 459
Class of securities : Letters of allocation in respect
of ordinary shares offered in
terms of the rights offer
Selling price : 14 cents per share
Total value of transaction : R3 021 264
Nature of interest : Indirect beneficial
Clearance obtained : Yes


Director : Joseph Juba Angelo Mashaba
Company : Aveng Limited
Date of transaction : 25 June 2018
Nature of transaction : On market sale of letters of allocation
in terms of the rights offer
Number of securities : 21 671 154
Class of securities : Letters of allocation in respect
of ordinary shares offered in
terms of the rights offer
Selling price : 14 cents per share
Total value of transaction : R3 033 962
Nature of transaction : Indirect beneficial
Clearance obtained : Yes


Director : Michelle Hillary Nana
Company : Aveng Limited
Date of transaction : 25 June 2018
Nature of transaction : On market sale of letters of allocation
in terms of the rights offer
Number of securities : 6 319 123
Class of securities : Letters of allocation in respect
of ordinary shares offered in
terms of the rights offer
Selling price : 14 cents per share
Total value of transaction : R884 677
Nature of transaction : Indirect beneficial
Clearance obtained : Yes



Johannesburg
29 June 2018

Transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)



Date: 29/06/2018 03:28:00 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.

AEGCB AEG 201806130056A
Notice to Bondholders Regarding an Adjustment to the Conversion Price of the Bonds

AVENG LIMITED
(“Aveng” or “the Issuer”)
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share code: AEG ISIN: ZAE000111829
JSE 2019 Convertible Bond Code: AEGCB
JSE 2019 Convertible Bond ISIN: ZAE000194940


NOTICE TO BONDHOLDERS REGARDING AN ADJUSTMENT TO THE CONVERSION PRICE OF THE BONDS


ZAR2,000,000,000 7.25 per cent. Senior Unsecured Convertible
Registered Bonds due 2019 (the “Bonds”)

Capitalised terms not otherwise defined in this notice shall have the meaning given to them in the
Terms and Conditions of the Bonds

In accordance with the Terms and Conditions of the Bonds, the Issuer hereby gives notice to
Bondholders that, as a result of the issue of Ordinary Shares to Shareholders by way of rights,
announced on the Stock Exchange News Service on Tuesday, 5 June 2018 and with an Ex Date of
Wednesday, 13 June 2018 and a Record Date of Friday, 15 June 2018, pursuant to Condition 9.2(a)(iv)
of the the Terms and Conditions, the Conversion Price has been adjusted to ZAR 10.40 (from
ZAR 28.76 previously), effective Monday, 18 June 2018, being the Dealing Day following the record date
for establishing the entitlement of Shareholders to participate in the issue.


13 June 2018


Financial advisor and transaction sponsor for the Capital Markets Transaction
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal advisors
Baker McKenzie

Debt sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com
Date: 13/06/2018 04:48:00 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.

In accordance with the terms and conditions (the "Conditions") of the Issuer"s ZAR2 000 000 000, 7.25% senior unsecured convertible registered bonds due Wednesday, 24 July 2019 (the "Convertible Bonds"), dated on or about 23 July 2014, and the trust deed dated on or about 23 July 2014 between the Issuer and TMF Corporate Services (South Africa) (Pty) Ltd., then known as GMG Trust Company (SA) (Pty) Ltd. (the "Trust Deed"), notice is hereby given, in accordance with Condition 20.4 (Notice of Meeting) of the Conditions, that a meeting of the Bondholders will be held at 10h00 on Tuesday, 3 July 2018 at the offices of Baker McKenzie at 1 Commerce Square, 39 Rivonia Road, Sandhurst, Johannesburg, 2196 (the "Bondholders Meeting"), at which meeting the Extraordinary Resolutions will be considered and, if deemed fit, passed with or without modification.

Salient dates
The salient dates relating to the Bondholders Meeting are as follows:
* Record date to determine Bondholders entitled to receive Notice of Bondholder Meeting: Friday, 8 June
* Posting date (via Strate) and announced on SENS: Tuesday, 12 June
* Last date to trade to be eligible to attend and vote at the Bondholders meeting: Tuesday, 19 June
* Record date to be eligible to attend and vote at the Bondholders meeting: Friday, 22 June
* Forms of Proxy should be lodged with Issuer or Transfer Agent no later than 10h00: Monday, 2 July
* Bondholders Meeting (Proxies may be delivered to the Chairman of the meeting at the meeting): Tuesday, 3 July
* Results of the Bondholders Meeting announced on SENS: 24 to 48 hours post Bondholder Meeting

Aveng shareholders (“Shareholders”) are referred to the declaration announcement released on the Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on Tuesday, 5 June 2018 (“Declaration Announcement”) wherein Aveng declared its intention to raise R500 million by way of a renounceable rights offer (“Rights Offer”) of approximately 5 billion Rights Offer shares (“Rights Offer Shares”) at a subscription price of R0.10 per Rights Offer Share (“Rights Offer Price”), in the ratio of 1199.98772 Rights Offer Shares for every 100 Aveng ordinary shares (“Aveng Shares”) held on the record date for the Rights Offer, being Friday, 15 June 2018.

Shareholders are advised that the Company has finalised the terms of the additional R200 million super senior debt facility from its bank funders as described in the Declaration Announcement and has drawn down on an initial R150 million of this facility. Furthermore, Shareholders are advised that the Company has now received all necessary approvals for the Rights Offer and, accordingly, the Rights Offer is unconditional and may now be implemented.

The proposed salient dates and times for the Rights Offer are set out below: 2018
*Finalisation date Thursday, 7 June
*Last day to trade in shares in order to participate in the Rights Offer (cum entitlement) Tuesday, 12 June
*Shares commence trading ex-entitlement at 09:00 on Wednesday, 13 June
*Listing of and trading in the Letters of Allocation under code AEGN and ISIN ZAE000257937 on the JSE commences at 09:00 on Wednesday, 13 June
*Circular and a Form of Instruction, where applicable, posted to Qualifying Certificated Shareholders on Thursday, 14 June
*Record Date at 17:00 on Friday, 15 June
*Rights Offer opens at 09:00 on Monday, 18 June
*In respect of Qualifying Certificated Shareholders, Letters of Allocation credited to an electronic account held with the Transfer Secretaries at 09:00 on Monday, 18 June
*In respect of Qualifying Dematerialised Shareholders, CSDP or Broker accounts credited with Letter of Allocation at 09:00 on Monday, 18 June
*Circular, where applicable, posted to Qualifying Dematerialised Shareholders on Tuesday, 19 June
*Last day to trade Letters of Allocation on the JSE Tuesday, 26 June
*In respect of Qualifying Certificated Shareholders wishing to sell all or some of their Letters of Allocation, Forms of Instruction to be lodged with the Transfer Secretaries by 12:00 on Tuesday, 26 June
*Listing of Rights Offer Shares and trading therein on the JSE commences at 09:00 on Wednesday, 27 June
*In respect of Qualifying Certificated Shareholders (or their renouncees) wishing to exercise all or some of their rights, payment to be made and Forms of Instruction to be lodged with the Transfer Secretaries by 12:00 on Friday, 29 June
*Rights Offer closes at 12:00 on Friday, 29 June
*Record date for Letters of Allocation on Friday, 29 June
*Rights Offer Shares issued on Monday, 2 July
*In respect of Qualifying Dematerialised Shareholders (or their renouncees), CSDP or Broker accounts debited with the aggregate Rights Offer Price and updated with Rights Offer Shares at 09:00 on Monday, 2 July
*In respect of Qualifying Certificated Shareholders (or their renouncees), share certificates in respect of Rights Offer Shares posted on or about Monday, 2 July
*Results of the Rights Offer announced on SENS on Monday, 2 July
*Results of the Rights Offer published in the press on Tuesday, 3 July
*In respect of successful excess applications (if applicable), Rights Offer Shares issued to Qualifying Dematerialsed Shareholders and/or share certificates posted by registered post to Qualifying Certificated Shareholders on or aboutWednesday, 4 July
*In respect of unsuccessful excess applications (if applicable), refund payments made to Certificated Shareholders on or about Wednesday, 4 July
*Further details of the Rights Offer will be set out in a circular to be distributed to certificated Shareholders on Thursday, 14 June 2018 and to dematerialised shareholders on Tuesday, 19 June 2018 (“Rights Offer Circular”). The Rights Offer Circular will be made available on the Company's website www.aveng.co.za on Tuesday, 12 June 2018.

Shareholders are referred to the announcements released by Aveng on the Stock Exchange News Service (“SENS”) on Thursday, 26 April 2018 (“Capital Markets Transaction Announcement”) and on Friday, 18 May 2018 (“M&R Transaction Announcement”) respectively, in which Aveng announced (i) its intention to early redeem the R2 billion, 7.25% senior unsecured convertible registered bonds due 24 July 2019 (“Existing Convertible Bonds”) still in issue (“Early Bond Redemption”), (ii) its intention to launch a renounceable rights offer of up to R500 million to qualifying Aveng shareholders to raise cash to fund internal liquidity requirements (“Rights Offer”), and (iii) that the boards of directors of Aveng (“Aveng Board”) and Murray & Roberts Limited (“Murray & Roberts”) have reached in principle agreement regarding the proposed terms of a potential combination of Aveng and Murray & Roberts (“M&R Transaction”). Shareholders are further referred to the announcement released by Aveng on SENS on Tuesday, 29 May 2018 (“Update Announcement”), in which Aveng restated its commitment to launching the Rights Offer and that the Aveng Board remains of the opinion that there is merit in the potential combination of Aveng and Murray & Roberts and is continuing to progress the M&R Transaction.

Shareholders are also referred to the results of the general meeting announcement released by Aveng on 29 May 2018 wherein shareholders were advised that the necessary resolutions to implement the Rights Offer had been passed. Such resolutions included:
- authorisation to convert par value shares to no par value shares and the amendment of the MOI to take account of the conversion;
- authorisation to increase authorised share capital from 882 034 263 shares to 180 882 034 263 shares; and
- the granting of authority to the Directors to issue such number of new Aveng ordinary shares as may be required for the purposes of implementing the Capital Markets Transaction, including authorisation to issue new Aveng ordinary shares for that purpose with voting power that may, upon issue, exceed 30% of the existing voting power of the Aveng ordinary shares currently in issue.

Aveng hereby declares its intention to undertake the Rights Offer in the form of a renounceable rights offer to all qualifying Aveng shareholders, in order to raise up to an aggregate amount of R500 million.

Salient terms of the Rights Offer
The Rights Offer will comprise an offer of approximately 5 billion new ordinary shares (“Rights Offer Shares”), issued in the ratio of 1 199.98772 Rights Offer Shares for every 100 ordinary Aveng shares held on the record date for the Rights Offer, at a subscription price of R0.10 per Rights Offer Share (“Rights Offer Price”), in order to raise up to R500 million. The Rights Offer Price represents a 82% discount to the closing Aveng share price and a 87% discount to the 30 day volume weighted average price on Monday, 4 June 2018.

Salient dates and times of the Rights Offer
The proposed salient dates and times for the Rights Offer are set out below: 2018
*Finalisation date Thursday, 7 June*Last day to trade in shares in order to participate in the Rights Offer (cum entitlement) Tuesday, 12 June
*Shares commence trading ex-entitlement at 09:00 on Wednesday, 13 June
*Listing of and trading in the Letters of Allocation under code AEGN and ISIN ZAE000257937 on the JSE commences at 09:00 on Wednesday, 13 June
*Circular and a Form of Instruction, where applicable, posted to Qualifying Certificated Shareholders on Thursday, 14 June
*Record Date at 17:00 on Friday, 15 June
*Rights Offer opens at 09:00 on Monday, 18 June
*In respect of Qualifying Certificated Shareholders, Letters of Allocation credited to an electronic account held with the Transfer Secretaries at 09:00 on Monday, 18 June
*In respect of Qualifying Dematerialised Shareholders, CSDP or Broker accounts credited with Letter of Allocation at 09:00 on Monday, 18 June
*Circular, where applicable, posted to Qualifying Dematerialised Shareholders on Tuesday, 19 June
*Last day to trade Letters of Allocation on the JSE Tuesday, 26 June
*In respect of Qualifying Certificated Shareholders wishing to sell all or some of their Letters of Allocation, Forms of Instruction to be lodged with the Transfer Secretaries by 12:00 onTuesday, 26 June
*Listing of Rights Offer Shares and trading therein on the JSE commences at 09:00 on Wednesday, 27 June
*In respect of Qualifying Certificated Shareholders (or their renouncees) wishing to exercise all or some of their rights, payment to be made and Forms of Instruction to be lodged with the Transfer Secretaries by 12:00 on Friday, 29 June
*Rights Offer closes at 12:00 on Friday, 29 June
*Record date for Letters of Allocation on Friday, 29 June
*Rights Offer Shares issued on Monday, 2 July
*In respect of Qualifying Dematerialised Shareholders (or their renouncees), CSDP or Broker accounts debited with the aggregate Rights Offer Price and updated with Rights Offer Shares at 09:00 onMonday, 2 July
*In respect of Qualifying Certificated Shareholders (or their renouncees), share certificates in respect of Rights Offer Shares posted on or about Monday, 2 July
*Results of the Rights Offer announced on SENS on Monday, 2 July
*Results of the Rights Offer published in the press on Tuesday, 3 July
*In respect of successful excess applications (if applicable), Rights Offer Shares issued to Qualifying Dematerialsed Shareholders and/or share certificates posted by registered post to Qualifying Certificated Shareholders on or about Wednesday, 3 July
*In respect of unsuccessful excess applications (if applicable), refund payments made to Certificated Shareholders on or about Wednesday, 3 July

Conditions precedent
The implementation of the Rights Offer is subject to the fulfilment of the following conditions precedent which are expected to be fulfilled on Thursday, 7 June 2018:
- approval being obtained from the JSE Limited (“JSE”) for the Rights Offer circular; and
- approval being obtained from the JSE for the listing of the Letters of Allocation and the listing of the Rights Offer Shares.

Further announcement and documentation
It is anticipated that the finalisation announcement for the Rights Offer will be released on SENS on or about Thursday, 7 June 2018 and in the South African press on or about Friday, 8 June 2018. The Rights Offer circular will be made electronically available on Aveng's website (www.aveng.co.za) from Wednesday, 13 June 2018.

Shareholders wee advised that at the general meeting held on 29 May 2018, the requisite majority of shareholders approved all the special resolutions, as set out in the notice of the general meeting.

Aveng provides the following information advance of various potential corporate actions ahead of the general meeting today, 29 May 2018.

Shareholders are referred to the announcements released by Aveng on SENS on Thursday, 26 April 2018 (“Capital Markets Transaction Announcement”) and on Friday, 18 May 2018 (“M&R Transaction Announcement”) respectively, in which Aveng announced (i) its intention to early redeem the R2 billion, 7.25% senior unsecured convertible registered bonds due 24 July 2019 still in issue (“Early Bond Redemption”), (ii) its intention to launch a rights offer of up to R500 million (“Proposed Rights Offer”) to raise cash to fund internal liquidity requirements (the Early Bond Redemption and the Proposed Rights Offer are collectively referred to as the Capital Markets Transaction), and (iii) that the boards of directors of Aveng (“Aveng Board”) and Murray & Roberts (“Murray & Roberts Board”) have reached in principle agreement regarding the proposed terms of a potential combination of Aveng and Murray & Roberts ("M&R Transaction"). Shareholders are further referred to the announcement released by Murray & Roberts on SENS on Friday, 18 May 2018, regarding the M&R Transaction.

Shareholders are reminded that no formal offer has yet been made by Murray & Roberts and that the making of a formal offer by Murray & Roberts is subject to the fulfilment and/or waiver of a number of pre- conditions as set out in the M&R Transaction Announcement. The making of a formal offer by Murray & Roberts to Aveng is subject to the satisfactory fulfilment or waiver of the following pre-conditions:
• Murray & Roberts shareholder approval in terms of section 126 of the Companies Act 2008, as amended (“Companies Act”), as a consequence of receipt by Murray & Roberts of an offer from ATON Gmbh (“ATON”) to acquire all or a portion of the issued shares in Murray & Roberts that it does not already own;
• approval from the Takeover Regulation Panel (“TRP”) in terms of section 126 of the Companies Act;
• satisfactory completion of reciprocal confirmatory due diligence by Murray & Roberts and Aveng;
• completion of the Proposed Rights Offer in accordance with its terms;
• satisfactory terms of the scheme of arrangement confirmed; and
• execution of final financing agreements by Murray & Roberts in relation to the financing facilities of R1.8 billion.

Update on M&R Transaction
Shareholders are referred to the announcements released on SENS by ATON on Friday, 25 May 2018, and Monday, 28 May 2018, regarding ATON's acquisition of an additional c.18.2 million Murray & Roberts ordinary shares, increasing its shareholding in Murray & Roberts to c.43.7%, ATON's withdrawal of its voluntary offer and its firm intention to make a mandatory offer for Murray & Roberts at an increased offer price of R17.00 on the basis as set out in the announcement. ATON has also previously released a public statement stating that it will not support the M&R Transaction.

Despite these recent developments, the Aveng Board remain of the opinion that there is merit in the potential combination of Aveng and Murray & Roberts, and believes that such a potential combination is in the best interest of the Company and its stakeholders. The Aveng Board is therefore continuing to engage with the Murray & Roberts Board and will continue progressing the M&R Transaction.

Aveng will keep shareholders updated with any further developments and progress in relation to the M&R Transaction.

Update on Proposed Rights Offer
Notwithstanding the M&R Transaction, Aveng remains committed to the implementation of the Proposed Rights Offer. As described in the Capital Markets Transaction it is critical for the Company to maximise proceeds from the Proposed Rights Offer in order for the Company to meet its interim liquidity requirements. It is anticipated that Aveng will utilise a further R200 million bank debt (such funding remains subject to bank approval). Aveng is currently finalising the funding term sheet with its funding banks in this regard.

Murray & Roberts is supportive of Aveng proceeding to implement the Proposed Rights Offer, irrespective of whether the M&R Transaction proceeds or not.

The Proposed Rights Offer is conditional on shareholder approval to amend Aveng's Memorandum of Incorporation to inter alia increase the authorized share capital of Aveng to facilitate the Proposed Rights Offer. Additionally, shareholder approval will be required to grant directors authority to issue Aveng Shares representing more than 30% of the issued share capital of Aveng. The general meeting in order to pass the requisite resolutions will be held today, 29 May 2018, the notice of which was sent to Aveng shareholders on Monday, 30 April 2018.

The terms and timing of the Proposed Rights Offer are expected to be announced to shareholders in due course.

As a result of the engagement with Murray & Roberts under the M&R Transaction, Aveng will need to apply to the TRP for consent to proceed with the Proposed Rights Offer under section 126 of the Companies Act.

Sale of identified assets and other properties
Shareholders are referred to Aveng's reviewed interim results for the six months ended 31 December 2017, released on 27 February 2018, in which Aveng announced the results of its strategic review (the “Strategic Review”). As part of the Strategic Review, Aveng announced its intention to dispose of its non- core assets, including Aveng Grinaker-LTA, Aveng Trident Steel, the Aveng Manufacturing businesses and other properties, allowing management to focus on the core operations of Moolmans and McConnell Dowell.

The Company continues to pursue the sale of the identified assets and has made progress in the disposals of Aveng Grinaker-LTA, Aveng Trident Steel and other properties. The Company will keep the shareholders informed as to the progress of the sale of these assets and will announce details to the market if a transaction is concluded. Aveng has also accelerated the preparation process for the sale of the Aveng Manufacturing businesses. Aveng will launch disposal processes for these assets shortly.

Renewal of cautionary announcements
The Aveng Board continues to progress its engagement with the Murray & Roberts Board with regards to the M&R Transaction which negotiations may have a material effect on the price of both companies' securities. Accordingly, shareholders of Aveng are advised to continue exercising caution when dealing in their securities until further details pertaining to the M&R Transaction are announced. Furthermore, the Capital Markets Transaction is still ongoing and accordingly shareholders of Aveng are advised to continue exercising caution when dealing in their securities until further details pertaining to the Capital Markets Transaction are announced.

Responsibility statement
The boards of directors of Aveng accept responsibility for the information contained in this announcement and certify that, to the best of their knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of the information.

Shareholders are referred to the announcement released on SENS on Thursday 26 April 2018 (“Capital Markets Transaction Announcement”), in which Aveng announced its intention to early redeem the R2 billion, 7.25% senior unsecured convertible registered bonds due 24 July 2019 still in issue (the “Existing Convertible Bonds”) partly in cash and partly through the issue of new Aveng shares (“Early Bond Redemption”). In the capital markets transaction announcement, Aveng also announced its intention to launch a fully renounceable rights offer to qualifying shareholders (the “Proposed Rights Offer”) with the intention to raise cash to fund internal capital requirements (“Retained Cash”) and, to the extent that excess cash is raised, to fund the cash portion of the early bond redemption. To the extent that the proceeds of the proposed rights offer are insufficient to early redeem all of the existing convertible bonds in cash, it was (and remains) Aveng"s intention to settle the balance of the early bond redemption through the issue of new Aveng shares (“Aveng Shares”) to the existing convertible bondholders (“Existing Convertible Bondholders”) or through a combination of new Aveng shares and a new debt instrument. The early bond redemption and the proposed rights offer are collectively referred to as the “Capital Markets Transaction”.

Shareholders are advised that subsequent to the announcement of the capital markets transaction, following consultation with Aveng shareholders and bondholders, the boards of directors for Aveng and Murray & Roberts reached in principle agreement regarding the proposed terms of a potential combination of Aveng and Murray & Roberts ("M&R Transaction"). Shareholders are referred to the announcement released today by Murray & Roberts regarding the M&R transaction.

Shareholders are advised that no formal offer has yet been made by Murray & Roberts. The making of a formal offer by Murray & Roberts is subject to the fulfillment and/or waiver of a number of pre-conditions. There is no certainty at this stage that the M&R transaction will be completed.

Aveng intends to proceed with the capital markets transaction and wishes to provide shareholders with additional, updated information in relation to the capital markets transaction as set out in paragraph 3 below. However, in light of the M&R transaction, Aveng proposes to raise up to R500 million through the proposed rights offer in order to fund the Retained Cash and detail of which is contained in paragraph 3.2. Murray & Roberts has indicated that it is supportive of Aveng proceeding to implement the proposed rights offer, irrespective of whether the M&R transaction proceeds or not. Aveng has had initial engagement with its stakeholders, including shareholders, bondholders and bank funders, on the M&R transaction as well as the capital markets transaction.

Pre-conditions to making a formal offer
The making of a formal offer by Murray & Roberts to Aveng is subject to the satisfactory fulfilment or waiver of the following pre-conditions:
*Murray & Roberts shareholder approval in terms of section 126 of the Companies Act, as a consequence of receipt by Murray & Roberts of an offer from ATON Gmbh (“ATON”) to acquire all or a portion of the issued shares in Murray & Roberts that it does not already own. ATON currently holds c.40% of the issued shares in Murray & Roberts;
*approval from the TRP in terms of section 126 of the Companies Act;
*satisfactory completion of reciprocal confirmatory due diligence by Murray & Roberts and Aveng;
*completion of the proposed rights offer in accordance with its terms;
*satisfactory terms of the Scheme confirmed; and
*execution of final financing agreements in relation to the New Facilities.

Firm offer
The potential share offer and M&R early bond redemption are inter-conditional. As detailed in 2.1, the final proposed transaction value and accordingly the implied final offer price per Aveng share will be determined following the satisfactory completion of the confirmatory due diligence and the completion of the proposed rights offer. Murray & Roberts intends to submit a firm offer post completion of the proposed rights offer, subsequent to which a firm intention announcement will be made by Aveng. The firm offer will be subject to the suspensive conditions as set out in 2.5 below.

Suspensive conditions to the M&R transaction
The M&R transaction will be subject to the timeous fulfilment of the following suspensive conditions:
*a special resolution of the Aveng shareholders approving the Scheme;
*Murray & Roberts shareholders approving the Category 1 transaction, in terms of the Listings Requirements and placing sufficient ordinary shares under the control of the directors of Murray & Roberts;
*the approval of existing convertible bondholders to amend the terms and conditions of the existing convertible bonds to facilitate the early redemption of the existing convertible bonds and to approve the terms of the redemption;
*approval of competition authorities in South Africa, Australia, New Zealand and certain other jurisdictions as required; and
*any other necessary statutory and/or regulatory and/or third party approval(s).

Other terms
In the event that (i) the firm intention letter is not received; or (ii) the circular to Murray & Roberts shareholders in respect of the Category 1 transaction is not posted in time for the general meeting to vote on the Category 1 transaction by 30 August 2018 or such later date as agreed between the parties, Aveng shall be entitled, at its sole discretion, to terminate the M&R transaction and any further negotiations between the parties.

Capital markets transaction
Shareholders are referred to the capital markets transaction announcement as well as the circular to Aveng shareholders posted on Monday, 30 April 2018.
*General meeting of Aveng shareholders to pass the requisite resolutions to implement the proposed rights offer to be held on Tuesday, 29 May 2018, as detailed in the circular posted to shareholders on Monday, 30 April 2018;
*The terms of the proposed rights offer will be finalised shortly after the receipt of the shareholder approvals referred to above;
*Murray & Roberts intend to make a firm offer after the completion of the proposed rights offer;
*Murray & Roberts will post the circular in relation to the Category 1 transaction, including notice of general meeting after making the firm offer;
*Aveng shareholder meeting to approve the Scheme to be held in mid-August 2018; and
*Murray & Roberts shareholder meeting to approve the Category 1 transaction, in terms of the JSE Listings Requirements to be held by no later than 30 August 2018 or such later date as agreed between Aveng and Murray & Roberts.

To the extent the M&R transaction is not successful, Aveng will announce further details with respect to the timing of the early bond redemption at such time.
Guidance for Aveng shareholders, cautionary announcement and renewal of cautionary announcement
The boards of directors of Murray & Roberts and Aveng have agreed to enter into formal negotiations with regards to the M&R transaction which negotiations, if successfully concluded, may have a material effect on the price of both companies' securities. Accordingly, shareholders of Aveng are advised to exercise caution when dealing in their securities until further details pertaining to the M&R transaction are announced. Furthermore, the capital markets transaction is still ongoing and accordingly shareholders of Aveng are advised to continue exercising caution when dealing in their securities until further details pertaining to the Capital markets transaction are announced.

Responsibility statement
The boards of directors of Aveng accept responsibility for the information contained in this announcement and certify that, to the best of their knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of the information.

Shareholders were advised that Mrs Michelle Nana has resigned as Aveng Company Secretary with effect from 30 June 2018.

Proposed transaction highlights
*Early redemption of the existing convertible bonds, thus significantly deleveraging the Aveng balance sheet through the removal of the existing convertible bond overhang;
*R300 million of new capital to be injected into the business;
*Significant reduction in the Company's debt burden, allowing the Company the opportunity to unlock shareholder value from core and non-core assets; and
*Proposed transaction supports the going concern of Aveng, protecting Aveng shareholder value and recapitalising the business to allow for future growth.

Proposed rights offer
Aveng intends to implement a fully renounceable rights offer of R1.8 billion offered to all Aveng shareholders in order to fund the retained cash and the bond cash redemption.

Aveng intends to utilise the proceeds from the proposed rights offer for the retained cash and the bond cash redemption. The first R300 million of the proposed rights offer will be retained by the Company as the retained cash. The balance of the proceeds raised in the proposed rights offer will be used to redeem a portion of the existing convertible bonds on a pro-rata basis.

Aveng will settle the balance of the early bond redemption through the bond share redemption or through a combination of new Aveng shares and a new debt instrument as described in paragraph 3.3.

Suspensive conditions to the proposed transaction
The proposed transaction will be subject to the timeous fulfilment of the following suspensive conditions:
*Aveng shareholder approval of the special resolutions required in terms of the Companies Act and the Listings Requirements to amend the MOI to increase the authorised share capital of Aveng and to grant authority to the directors to issue Aveng Shares representing more than 30% of the share capital of Aveng. In addition an ordinary resolution approving the Specific Issue that will require the support of Aveng shareholders holding at least 75% of the total number of votes exercised by Aveng shareholders, present and eligible to vote on such a resolution at the general meeting of Aveng shareholders;
*The approval of the JSE of the Specific Issue;
*The approval of existing convertible bondholders to amend the terms and conditions of the existing convertible bonds in order to facilitate the Early Bond Redemption; and
*The approval of the Group's bank funders in respect of the proposed additional R200 million bank debt and the proposed transaction. In accordance with the arrangements between the Group and its bank funders, Aveng must obtain consent of these bank funders in order to implement various aspects of the proposed transaction, including: (i) the Early Bond Redemption; and (ii) the Proposed Rights Offer.

Notice of first general meeting and salient dates
Notice is hereby given that a general meeting of shareholders ("First General Meeting") will be held at the Company's registered office, Aveng Park, 1 Jurgens Street, Jet Park, Boksburg, at 09.00am on 29 May 2018 in order to pass the resolutions required to increase the authorised share capital of Aveng. Salient dates pertaining to the first general meeting will be published in the notice of general meeting, which will be posted to shareholders on Monday, 30 April 2018 and are detailed below.
*Record date to be entitled to receive the circular incorporating the notice convening the first general meeting - Friday, 13 April 2018
*Circular and notice of first general meeting posted to shareholder and announced on SENS on Monday, 30 April 2018
*Last day and time to give notice to participate in the first general meeting electronically by 12:00 on Thursday, 17 May 2018
*Last day and time to give notice to participate in the first general meeting - Tuesday, 15 May 2018
*Record date to participate in and vote at the first general meeting - Friday, 18 May 2018
*Last day to lodge forms of proxy with the Transfer Secretaries to vote at the first general meeting by 09:00 on (see note 2 below) - Friday, 25 May 2018
*First general meeting of shareholders to be held at 09:00 on Tuesday, 29 May 2018
*Results of first general meeting announced on SENS on Tuesday, 29 May 2018
*Results of first general meeting published in the press on Tuesday, 29 May 2018

Cautionary
The proposed transaction may have a material effect on the price of the Company's securities and bonds. Accordingly, shareholders and bondholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made.

Shareholders are advised that the Company"s Audit & Risk Committees are now combined and is comprised of the following Independent Non- Execuitve Directors with immediate effect:
* Mr Philip Hourquebie (Chairman)
* Ms Kholeka Mzondeki
* Mr Sean Flanagan
* Mr Mike Kilbride

Aveng reported a headline loss of R335 million (December 2016: R391 million) and a net loss of R346 million (December 2016: R429 million).

Basic loss per share was 87.4 cents loss per share compared to a 98.8 cents loss per share in the comparative period and headline loss per share decreased to 84.4 cents loss per share (December 2016: 98.5 cents loss per share).

Outlook and prospects
The markets serviced by McConnell Dowell are expected to continue to offer growth opportunities with the continued roll out of large- and medium-sized projects in the major Australian cities. In Southeast Asia, opportunities exist in infrastructure in Singapore, Malaysia, Thailand, Indonesia and the Philippines. Government investment in large scale transport and water projects will fuel growth in the New Zealand market.

Domestically the outlook for the infrastructure market remains subdued with limited visibility on large scale projects. However, recent changes in the political environment have led to an improved sentiment in South Africa. There are opportunities to increase exports for the manufacturing operations.

The improved contract mining environment and some notable contract wins place the operating group in a strong position to pursue its longer-term growth strategy in selected international markets.

Furthermore, the focus will remain on optimisation efforts in Aveng Steel to deliver a break-even result in the current depressed market conditions, which are expected to persist.

The immediate priority for the Group will be the implementation of the strategic plan. Non-core assets have been identified and a disposal process has commenced.

Work has commenced on a potential capital market transaction and further details will be provided at the appropriate time.

It is with deep sadness that the shareholders of Aveng are advised that Mr Peter John Erasmus, an independent non- executive director of the Company, passed away on 4 February 2018.

AEG 201801290041A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
29, January 2018, that clients of Coronation Asset
Management (Pty) Ltd have, in aggregate, acquired an
interest in the ordinary shares of Aveng, such that the
total interest in the ordinary shares of Aveng held by
Coronation"s clients now amounts to 20.21% of the total
issued ordinary shares of Aveng.

Jet Park

29 January 2018

JSE Sponsor
UBS South Africa Proprietary Limited

Date: 29/01/2018 04:00:00 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.

AEG 201712210052A
Dealings In Securities by Directors and Subsidiary Directors in terms of the Aveng Long Term Incentive Plan (LTIP).

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


DEALINGS IN SECURITIES BY DIRECTORS AND SUBSIDIARY DIRECTORS IN TERMS OF
THE AVENG LONG TERM INCENTIVE PLAN (LTIP).


Awards were made on 21 December 2017 in terms of the 2018 Special
Incentive Award Scheme ("Scheme") which provides for the award of
performance and retention shares as well as under the Aveng Long Term
Incentive Plan which provides for the award of bonus shares. All the
awards are for the direct beneficial interests of directors.


Long Term Incentive Plan (“LTIP”)
Schedule 14 of the JSE Limited Listings Requirements applies to the LTIP
Performance, Retention and Bonus Share awards made under the scheme in
this instance, as they are settled by way of utilising currently
available treasury shares.


Long Term Incentive Plan Performance Shares awarded to and accepted by
Directors and Subsidiary Directors:


Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 840 011 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 1 755 623
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 857 215 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 1 791 580
Acceptance date: 21 December 2017


Name of subsidiary director: MH Nana
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 287 081 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 600 000
Acceptance date: 21 December 2017


In terms of the rules of the Scheme, the vesting period is three (3)
years from the date of award and vesting is subject to the satisfaction
of performance conditions and continued employment by the recipients.


Long Term Incentive Plan Retention Shares awarded to and accepted by
Directors and Subsidiary Directors:


Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 441 006 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 921 702
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 450 038 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 940 580
Acceptance date: 21 December 2017


Name of subsidiary director: MH Nana
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 150 718 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 315 000
Acceptance date: 21 December 2017


In terms of the rules of the Scheme, the vesting period is three (3)
years from the date of award and vesting is subject to continued
employment by the recipients.


Bonus Shares, which are the deferred portion of the Short-Term
Incentive, awarded to and accepted by Directors and Subsidiary
Directors:


Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 126 373 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 264 120
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 125 895 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 263 120
Acceptance date: 21 December 2017


In terms of the rules of the LTIP, vesting of the award takes place over
three (3) years, where vesting occurs in three (3) equal tranches in
year one (1), year two (2) and year three (3). Vesting is subject to
continued employment by the recipients.




The necessary clearance in terms of paragraph 3.66 of the JSE Listings
Requirements has been obtained.


21 December 2017


Sponsor: UBS South Africa (Pty) Limited

Date: 21/12/2017 03:25:00 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.

Bondholders of the Aveng Ltd. Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on Wednesday, 24 January 2018. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2017 (inclusive) and ending on 24 January 2018 (exclusive) (“Coupon Period”), from the close of trade on Tuesday, 16 January 2018 until the close of trade on Friday, 19 January 2018. The interest amount to be paid on Wednesday, 24 January 2018 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
* Last date to trade in order to participate in this interest payment : Tuesday, 16 January 2018
* Ex date : Wednesday, 17 January 2018
* Record date : Friday, 19 January 2018
* Payment date : Wednesday, 24 January 2018

AEG 201712080024A
Announcement Regarding Termination Of Aveng Grinaker Lta Transaction

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)

ISIN: ZAE000111829
SHARE CODE: AEG


("Aveng Limited")


ANNOUNCEMENT REGARDING TERMINATION OF AVENG GRINAKER LTA
TRANSACTION


1. On 11 October 2016, shareholders were advised that Aveng Africa (Pty) Ltd
(Aveng), a wholly-owned subsidiary of Aveng Limited, entered into binding
agreements with Singabakhi Holdings (Pty) Ltd (previously Kutana Construction (Pty)
Ltd (Kutana Construction)) whereby Kutana Construction was to acquire an indirect
51% stake in the Aveng Grinaker LTA business on or about 1 February 2017, which
was later extended to 1 April 2017. Shareholders approved this transaction, including
certain conditions precedent, on 29 March 2017. These conditions precedent
included the condition that Kutana Construction enters into the necessary funding
arrangements to obtain funding of an upfront payment of R20 million, and such
arrangements having become unconditional (Funding Condition). Certain of the
conditions precedent were not met in time, including the Funding Condition. The
parties agreed to amended the date of fulfilment of the conditions precedent to 29
September 2017 (the Fulfilment Date), and the effective date was intended to be 1
October 2017.
2. The Funding Condition was not fulfilled prior to the Fulfilment Date. As a result of
this, the agreement with Kutana Construction has terminated.
3. Aveng remains committed to its obligations in terms of the settlement agreement
concluded with the Government of the Republic of South Africa (Settlement
Agreement). Aveng has initiated the necessary actions to ensure it complies with the
Settlement Agreement.
4. Further information will be published in due course.




8 December 2017
Jet Park


JSE Sponsor
UBS South Africa Proprietary Limited




1


Date: 08/12/2017 12:00:00 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.

Further to the announcement released on SENS on 27 November 2017 relating to Aveng's invitation to shareholders to engage with the Company on the remuneration policy and the implementation of the remuneration policy, shareholders are advised that the telephone conference took place on Monday, 4 December 2017 as follows:
1. two shareholders, holding approximately 24% of voteable shares in Aveng, participated in the telephone conference (“participating shareholders”);
2. one shareholder confirmed that the Company has already engaged with them and they had tabled their concerns; and
3. Aveng anticipates formulating a new three year policy and will engage with shareholders before its finalisation in June 2018.

Investors were advised that the Group's annual financial statements for the year ended 30 June 2017 are available for viewing and downloading at www.aveng.co.za.

Further to the announcement released on SENS on 24 November 2017, Aveng L now invites those shareholders who voted against the remuneration policy and the implementation of the remuneration policy at the Annual General Meeting of Aveng held on 24 November 2017 (“dissenting shareholders”) to engage with the Company as follows:
1. a telephone conference has been arranged for Monday, 4 December 2017 from 11h00 to 12h00 (SA time);
2. all dissenting shareholders to confirm their participation to the company secretary by e- mail at aveng.cosec@avenggroup.com by no later than close of business on Thursday, 30 November 2017. Dial-in-details for the telephone conference will then be provided; and
3. dissenting shareholders are further invited to forward their concerns/questions on the remuneration policy and the implementation report to the company secretary in writing by close of business on Thursday, 30 November 2017.

Shareholders are advised that at the annual general meeting held today, 24 November 2017, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416 670 931 ordinary shares in issue as at the date of the annual general meeting.

Shareholders are further advised that due to ordinary resolutions number 4 and 5 which relate to the non- binding advisory votes on the remuneration policy and the implementation of the remuneration policy being voted against by more than 25% of Aveng shareholders present in person or represented by proxy at the AGM, the Board has committed itself to continue to engage with the dissenting shareholders. The manner and timing of such engagement has not as yet been finalised, and, Aveng will issue a further announcement shortly including such details.

Additionally, the Remuneration Committee members recently met with some of our major shareholders to discuss the once-off Remuneration Policy and have committed to consult further in respect of the 2019 policy prior to it being finalised and published in next year's Integrated Report.

Changes to the board of directors: resignation of non-executive directors
Shareholders are advised that non-executive directors, Mr Mahomed Seedat and Ms Thoko Mokgosi-Mwantembe have resigned from the board of directors of Aveng at today's Annual General Meeting.

Shareholders are hereby advised that the notice of annual general meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Friday, 20 October 2017. The notice of annual general meeting contains no modifications to the audited group results for the year ended 30 June 2017, published on SENS and in the media on Tuesday, 26 September 2017. An abridged report will therefore not be published.

The Integrated Report is available on the Company's website (www.aveng.co.za/financials/annual-reports).

Notice is hereby given that the seventy-third annual general meeting of shareholders will be held at 10h00 on Friday, 24 November 2017 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the notice of the annual general meeting.

Salient dates
The notice of annual general meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 13 October 2017, being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the annual general meeting is Friday, 17 November 2017 (“Voting Record Date”). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 14 November 2017. Forms of proxy must be lodged by no later than 10h00 on Wednesday, 22 November 2017 for administrative purposes.

Broad-Based Black Economic Empowerment certificate
Shareholders are hereby notified that in accordance with the JSE Listings Requirements, Aveng"s compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based Black Economic Empowerment Act 46 of 2013, has been published and is available on the Group"s website, www.aveng.co.za.

Revenue for the year lowered to R23.5 billion (2016: R33.8 billion). Gross loss was recorded at R3.1 billion (2016: earnings of R2.5 billion). Net operating loss was R5.4 billion (2016: earnings of R146 million). Loss for the period attributable to equity-holders of the parent widened to R6.7 billion (2016: loss of R101 million). In addition, headline loss per share was recorded at 1 625.3 cents per share (2016: loss of 75.2 cents per share).

Outlook and prospects
The markets serviced by McConnell Dowell are expected to offer growth opportunities over the medium-term. In Australia, the continued roll-out of large-and medium-sized projects in the major cities is set to continue. In Southeast Asia, opportunities exist in infrastructure in Singapore, Malaysia, Thailand and the Philippines. Government investment in large-scale transport and water projects will fuel growth in the New Zealand market.

Domestically the outlook for the infrastructure market remains subdued with limited visibility on large-scale projects. The muted outlook is expected to extend into the manufacturing sector. However, there are opportunities to increase the penetration into selected international markets.

The local construction and manufacturing businesses will remain focused on improving financial performance in what is expected to be a continuously difficult market environment.

The improved contract mining environment and some notable contract wins place the operating group in a strong position to pursue its longer-term growth strategy in selected international markets.

Furthermore, the focus will remain on optimisation efforts in Aveng Steel to deliver a break-even result in the current depressed market conditions, which are expected to persist.

The immediate priority for the Group will be the completion of the strategic and operational reviews. Non-core assets have been identified and a disposal process has commenced.

The improvement of liquidity headroom will remain a key focus in the immediate term.

Resignation of Aveng CEO
Aveng announces that Mr Kobus Verster has informed the Company"s board of directors of his resignation as chief executive officer and executive director, with immediate effect.

Kobus has made the decision to step down as CEO of the Company to pursue other opportunities.

Mr Eric Diack will assume the duties of CEO, until such time as a new CEO has been appointed.

Further to the SENS announcements of 17 May 2017, 31 July 2017 and 18 August 2017, in which Aveng announced, inter alia:
* The award of AUD50.5 million (R508 million) and associated non-cash write-down of AUD235 million (R2,4 billion) in relation to the Queensland Curtis Liquefied Natural Gas (“QCLNG”) project in Australia;
* The re-evaluation of certain long outstanding uncertified revenue;
* The engagement with its major funding banks in relation to the extension of its existing facilities, some of which were due to reach maturity; and
* The postponement of the publication of the Group's annual results until 28 September 2017.

Aveng now wishes to announce:
* An update on the liquidity position of the Group
* A non-cash write-down of other uncertified revenue that reduces risk and uncertainty resulting in a charge of R2.7 billion;
* An impairment of Plant and Equipment, and Intangible Assets at Aveng Steel resulting in a charge of R272 million;
* A write-down of deferred tax assets in the Group of R531 million, in line with expected future utilisation; and
* The write-downs remove risk and uncertainty from the Group and McConnell Dowell's balance sheets.

Liquidity update
The Group announced that it has reached agreement with its major funding banks for the renewal and extension of its existing facilities, some of which were due to reach maturity, and providing certainty following the QCLNG award and review of long outstanding uncertified revenue. The Group now has sufficient liquidity to execute on its plans to return the business to a position of sustainable profitability.

Genrec award
Following the long outstanding dispute between Genrec Engineering (Pty) Ltd. (”Genrec“) and the Aveng Steel Fabrication division, and which relates to Aveng's entitlement to compensation as determined by an arbitration award in August 2014, the Dispute Adjudication board (”DAB“) ordered Genrec to pay to Aveng the sum of R123 million; and in addition, to pay interest on such sum at the simple interest rate of 15.5% from 1 September 2011 to date of payment.

The DAB is currently curing calculation errors in its award, which amended award has not yet been delivered to the parties. The parties have agreed that the final value of the Award is R124 million (excluding interest).

In terms of the initial award, the total cash award payable to Aveng is R238 million. Genrec is obliged to promptly give effect to the terms of the award and make payment. The award will remain binding unless and until overturned by way of an arbitration process which may follow.

Outcome of review of long-outstanding uncertified revenue
As stated in the trading statement and cautionary announcement of 17 May 2017 and subsequent updates and renewals on 31 July 2017 and 18 August 2017, respectively, Aveng continuously assesses its recognised uncertified revenue. Project execution and the progress on the various outstanding claims is assessed in the context of the current performance of the business, the existing business environment, and expected future market conditions.

The following factors have guided the assessment:
* Certain unfavourable claim settlement awards most notably the recent QCLNG award, which realised substantially less than the carrying value, as well as the previously reported Kenmare Resources and Mokolo Crocodile Water Augmentation awards in South Africa;
* The current economic climate, which has resulted in an ever increasing and protracted litigious environment, and costly process in bringing long-outstanding claims to commercial conclusion;
* The increasing complexity of the claims and the associated commercial challenges; and
* The increasing limitations such a process has placed on management's ability and flexibility to balance the value of commercial settlements with the associated costs, business disruptions, client relationships and the impact on the Group's reputation.

The board has therefore decided to impair long-outstanding uncertified revenue and claims in an amount of R2,7 billion for the year ended 30 June 2017. This charge will reduce both earnings per share and headline earnings per share by 667 cents, respectively. Importantly, the write-down charge has no cash consequence on the reported results.

Aveng Steel impairments
Following the latest review, and in the context of the continuing subdued trading conditions in the steel market, an impairment charge of R272 million has been recognised against certain Aveng Steel assets. This includes R220 million against Plant and Equipment and R52 million of Intangible Assets. This charge will reduce Group earnings per share by 69 cents, with no impact on headline earnings per share. This impairment charge has no cash consequence on the reported results.

Deferred tax asset write-down
Following the QCLNG award and the impairments and write-downs disclosed above, an assessment was performed to evaluate the expected future utilisation of the deferred tax assets in various jurisdictions.

Although assessed losses in South Africa and Australia do not expire, management's estimate reflects the expected utilisation of the deferred tax asset within the foreseeable future. This has resulted in a write-down of R531 million of the deferred tax assets in the Group. This charge will reduce both earnings per share and headline earnings per share by 134 cents, respectively. This impairment charge has no cash consequence on the reported results.

Trading statement
Weak market conditions in South Africa has negatively impacted the overall business performance. This, combined with operational under-performance at Aveng Grinaker-LTA, and the negative impact of the continuing work on loss making historic projects at McConnell Dowell has resulted in a decline in underlying operational performance.

Management is addressing certain residual matters, most notably:
* Completion of work and commercial matters in relation to legacy and historic projects;
* Project performance at Aveng Grinaker-LTA; and
* The fundamental quality of the Group's balance sheet.

McConnell Dowell and Aveng Grinaker-LTA, as previously reported, were expected to return to profitability in the current financial year. The turnaround and restructuring of both these units has taken longer than anticipated. This is mainly due to the continued weakness in the local market, as well as the scale and complexity of intervention efforts required in both businesses. As a result, these businesses will report negative underlying performance in the financial year ended 30 June 2017.

In accordance with paragraph 3.4 (b) of the JSE Ltd. Listings Requirements, shareholders are advised that:
* The headline loss per share for the 12 months ended 30 June 2017 will be between (1 587) cents and (1 663) cents, compared to (75.2) cents in 2016. The headline loss for the year will be between (R6 300) million and (R6 600) million, compared to (R299) million in 2016; and
* The basic loss per share will be between (1 638) cents and (1 713) cents, compared to (25.4) cents in 2016. The basic loss in earnings will be between (R6 500) million and (R6 800) million for the year, compared to (R101) million in 2016.

Furthermore, the net asset value as at 30 June 2017 is expected to be between R5 900 million (1456 cents per share) and R6 200 million (1488 cents per share).

The Group"s annual results will be released on 26 September 2017.

Withdrawal of cautionary – Uncertified revenue
The cautionary announcement dated 31 July 2017 is hereby withdrawn and shareholders are no longer required to exercise caution in respect of this matter when dealing in Aveng securities.

Withdrawal of cautionary – Extension of facilities
The cautionary announcement dated 18 August 2017 is hereby withdrawn and shareholders are no longer required to exercise caution in respect of this matter when dealing in Aveng securities.

The Aveng Board announced that Eric Diack has been appointed as Executive Chairman with immediate effect. Mahomed Seedat has stepped down from the role of independent non-executive chairman as he believes that Eric is better positioned for the role. This will be with immediate effect. Eric"s extensive commercial experience will support the management team as it enhances its strategy to enable the company to realise its significant underlying value.

Kobus Vorster will continue in the role of Group Chief Executive Officer and continues to enjoy the full support of the Board. Kobus and Eric will work together to deliver on the potential of the company sooner rather than later.

Eric Diack, is a Chartered Accountant, and has been CEO and CFO of a number of major industrial and mining companies, as well as a director on numerous listed and unlisted boards. He has been integral to a multitude of transactions during his corporate and entrepreneurial career.

As a result of assuming the role of Executive Chairman, Eric Diack will relinquish his role as chairman of the Audit Committee. Philip Hourquebie, currently an independent non-executive director and member of the Audit Committee, has been appointed to chair the Audit Committee. Peter Erasmus, currently an independent non-executive director, has been appointed as a member of the Audit Committee to replace Eric Diack.

The board announced that Ms Kholeka Mzondeki, currently an independent non- executive director, has been appointed as lead independent director with immediate effect.

Following these changes, the composition of the Board remains compliant with the King IV requirement that a board of directors should comprise a balance of power, with a majority of non- executive directors, the majority of whom should be independent.

AEG 201708210024A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
18, August 2017, that clients of Coronation Asset
Management (Pty) Ltd have, in aggregate, acquired an
interest in the ordinary shares of Aveng, such that the
total interest in the ordinary shares of Aveng held by
Coronation"s clients now amounts to 15.45% of the total
issued ordinary shares of Aveng.

Jet Park

21 August 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 21/08/2017 01:30:00 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.

The cautionary announcement dated 31 July 2017, relating to the review of long outstanding uncertified revenue, is renewed and holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.

The proceeds of AUD50m relating to the QCLNG award has now been received.

Following the recently announced QCLNG award at a lower than anticipated value, the Group is considering the impact of the associated write down of AUD235m, together with the likely impact of the review of the uncertified revenue, this may have on its financial statements.

Consequently, Aveng has engaged with its major funding banks in relation to the extension of its existing facilities, and these discussions are continuing. The major funding banks have indicated they remain supportive of the Group.

As a result, holders of Aveng securities are advised to exercise caution in respect of this matter when dealing in Aveng securities until a further announcement is made.

The Board has therefore decided to postpone the publication date of its annual results from 22 August 2017 to 28 September 2017.

In Aveng"s Interim Results announcement of 20 February 2017, the Group highlighted the expected resolution of the long-outstanding QCLNG matter and the associated balance sheet risk in its outlook. Furthermore, in the SENS announcement of 17 May 2017, Aveng reported that it was re-evaluating certain long-outstanding uncertified revenue. Aveng wishes to provide the following update:
*The resolution of disputed claims pertaining to the Queensland Curtis Liquefied Natural Gas (“QCLNG”) pipeline project, which was completed in 2014 by a joint venture that included McConnell Dowell (a subsidiary of Aveng), and the financial effect thereof;
*Termination of the Aveng Steel disposal process;
*The Aveng Grinaker-LTA empowerment transaction; and
*Renewal and withdrawal of cautionary announcements.

QCLNG award
McConnell Dowell (a 100% subsidiary of Aveng), together with its joint venture partner, was responsible for the execution of the QCLNG project in Australia over a four-year period that started in 2010. Following various contractual disputes and a protracted arbitration process, the QCLNG award provides that McConnell Dowell is entitled to receive compensation in the amount of AUD50.5 million (R508 million) (including interest), being 50% of the total award to the joint venture.

Salient features of the award include:
*AUD50.5 million (R508 million) to be settled forthwith;
* Each party is accountable for its legal expenses; adequate provision has been made for McConnell Dowell's legal fees; and
*The QCLNG award is binding and final, with only very limited appeal rights.

Given that the QCLNG award is less than the amount recognised within uncertified revenue and claims, the Group will record a non-cash write-down of AUD234 million (R2,4 billion) in relation to the QCLNG award in its reported results for the year ended 30 June 2017. This charge will reduce both earnings per share and headline earnings per share each by 595 cents.

Steel disposal update
Shareholders are referred to the cautionary announcement dated 3 July 2017, in relation to the sale of Aveng Trident Steel by Aveng Africa (Pty) Ltd. Shareholders are advised that negotiations relating to the disposal of Aveng Trident Steel have been terminated due to the inability to reach agreement on an acceptable value. No other negotiations are currently in progress. Over recent months, the Company has continued with various interventions that have resulted in the business being able to generate positive cash flow and reach an EBITDA break-even position for the year, notwithstanding challenging market conditions. With the termination of negotiations, it is management's intention to implement further optimisation initiatives within Aveng Trident Steel. This includes capitalising on its leading position within the automotive sector.

Aveng Grinaker- LTA Empowerment transaction update
Following overwhelming shareholder support at the extraordinary meeting held on 29 March 2017, Aveng is pleased to report that the Aveng Grinaker-LTA empowerment transaction, which will result in the sale of 51% beneficial interest in the business to Kutana Construction, has advanced. Aveng has received unconditional approval from both the South African Competition Commission and competition authorities in Namibia and Botswana. Approval is awaited from the Swaziland authorities.

Renewal of cautionary- uncertified revenue
The cautionary announcement dated 3 July 2017 is hereby renewed and shareholders are advised to exercise caution in respect of this matter when dealing in Aveng securities.

Withdrawal of cautionary- steel disposal
The cautionary announcement dated 3 July 2017 is hereby withdrawn and shareholders are no longer required to exercise caution in respect of this matter when dealing in Aveng securities.

Trading statement
In terms of paragraph 3.4 (b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as a reasonable degree of certainty exists that the financial results for the upcoming reporting period will differ by more than 20% from those of the previous corresponding period.

The Company released a trading statement on 17 May 2017 stating that the Group expects basic earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the year ended 30 June 2017 to be substantially more than 20% lower than the basic EPS loss of (25.4) cents and basic HEPS loss of (75.2) cents reported for the previous comparative period.

Shareholders are advised that a further trading statement will be released as soon as there is a reasonable degree of certainty as to the likely range by which the Group's EPS and HEPS are expected to decrease. The above information has not been reviewed or reported on by the Company"s external auditors.

Shareholders are referred to the previous cautionary announcements in relation to the sale of Aveng Trident Steel by Aveng Africa (Pty) Ltd.

Discussions are still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.

Shareholders are referred to the cautionary announcement dated 17 May 2017, in relation to management's evaluation of previously recognised uncertified revenue, which may result in the derecognition of certain previously recorded uncertified revenue.

The aforementioned evaluation is still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.

Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on Monday, 24 July 2017. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2017 (inclusive) and ending on 24 July 2017 (exclusive) (“Coupon Period”), from the close of trade on Tuesday, 18 July 2017 until the close of trade on Friday, 21 July 2017. The interest amount to be paid on Monday, 24 July 2017 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
* Last date to trade in order to Participate in this interest payment : Tuesday, 18 July 2017
* Ex date : Wednesday, 19 July 2017
* Record date : Friday, 21 July 2017
* Payment date : Monday, 24 July 2017

AEG 201706260029A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
26, June 2017, that clients of Coronation Asset
Management (Pty) Ltd have, in aggregate, acquired an
interest in the ordinary shares of Aveng, such that the
total interest in the ordinary shares of Aveng held by
Coronation"s clients now amounts to 15.02% of the total
issued ordinary shares of Aveng.

Jet Park

26 June 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 26/06/2017 02:45:00 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.

AEG 201705260041A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Friday, 26 May 2017, that Public Investment Corporation
SOC Ltd has disposed of an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Public Investment
Corporation now amounts to 3.185% of the total issued
ordinary shares of Aveng.

Jet Park

26 May 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 26/05/2017 02:45:00 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.

AEG 201705260038A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
25, May 2017, that clients of Investec Limited have, in
aggregate, acquired an interest in the ordinary shares of
Aveng, such that the total interest in the ordinary
shares of Aveng held by Investec"s clients now amounts to
10.3367% of the total issued ordinary shares of Aveng.

Jet Park

26 May 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 26/05/2017 02:10:00 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.

AEG 201705180037A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
17, May 2017, that clients of Investec Limited have, in
aggregate, acquired an interest in the ordinary shares of
Aveng, such that the total interest in the ordinary
shares of Aveng held by Investec"s clients now amounts to
5.2302% of the total issued ordinary shares of Aveng.

Jet Park

18 May 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 18/05/2017 03:00:00 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.

The Group expects basic earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the year ended 30 June 2017 to be substantially more than 20% lower than the basic EPS loss of (25.4) cents and basic HEPS loss of (75.2) cents reported for the previous comparative period.

This follows continued weak market conditions for the South African businesses, operational underperformance and accelerated claims settlements at McConnell Dowell, an increased net interest expense as well as the impact of previously reported settlements and the agreement concluded with the South African government.

Shareholders are advised that a further trading statement will be released as soon as there is a reasonable degree of certainty as to the likely range by which the Group's EPS and HEPS are expected to decrease.

QCLNG update
As previously announced, the arbitration hearings have been completed. The finding of the Tribunal is awaited and Aveng expects that an award is likely to be reported within the current financial year's reporting cycle.

Other claims
Aveng continuously reassesses the position recognised on all its recorded uncertified revenue. The Group has noted increasingly difficult, litigious and costly processes in bringing long outstanding claims to commercial conclusion. Despite the unchanged view of the merits of its existing claims, management is in the process of evaluating previously recognised uncertified revenue considering the abovementioned conditions. This may result in the derecognition of certain previously recorded uncertified revenue. Such an adjustment may lead to a further reduction in earnings beyond currently anticipated results. The Group will continue to robustly pursue its commercial entitlements in relation to these claims.

Shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.

AEG 201705150030A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Friday, 12 May 2017, that Public Investment Corporation
SOC Ltd has disposed of an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Public Investment
Corporation now amounts to 8.733% of the total issued
ordinary shares of Aveng.

Jet Park

15 May 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 15/05/2017 12:30:00 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.

Shareholders are referred to the cautionary announcement dated 17 March 2017, in relation to the sale of Aveng Trident Steel by Aveng Africa (Pty) Ltd.

Discussions are still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in their Aveng securities until a further announcement is made.

AEG 201704250019A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification that
clients of Coronation Asset Management (Pty) Ltd have,
in aggregate, acquired an interest in the ordinary shares
of Aveng, such that the total interest in the ordinary
shares of Aveng held by Coronation Asset Management
clients now amounts to 12.08% of the total issued
ordinary shares of Aveng.

Jet Park

25 April 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 25/04/2017 11:30:00 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.

AEG 201704120023A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Wednesday, 12 April 2017, that Four Arrows Investments
39(Pty) Ltd have disposed an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Four Arrows Investments
39(Pty) Ltd now amounts to 0% of the total issued
ordinary shares of Aveng.

Jet Park

12 April 2017

JSE Sponsor
UBS South Africa Proprietary Limited


By Order of the Board

Date: 12/04/2017 02:00:00 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.

Shareholders are advised that at the general meeting held on 29 March 2016, the requisite majority of shareholders approved all the ordinary resolutions, as set out in the notice of the general meeting. There were 416 670 931 ordinary shares in issue at the date of the general meeting.

Aveng shareholders (“Shareholders”) are referred to the announcement dated 27 February 2017 advising that the Company had posted a circular to Shareholders (“Grinaker-LTA Circular”, “Circular”). The purpose of the Circular was to provide Shareholders with information relating to the proposed disposal of a 51% beneficial interest in the Grinaker-LTA business, owned and operated by Aveng Africa (Pty) Ltd., to Kutana Construction (Pty) Ltd. (“Kutana Construction”) and the subsequent issue of the non-voting equity instrument by Kutana Construction to Aveng Africa resulting in Aveng disposing of an effective 45% economic interest in the Grinaker-LTA business to Kutana Construction (“Disposal”). The purpose of the Circular was to provide information to enable Aveng shareholders to make an informed decision in respect of the relevant resolutions contained in the Circular and to convene a general meeting at which shareholders will be requested to vote on the resolutions to approve the Disposal.

Following the announcement of the Group's interim financial results for the six months ended 31 December 2016, Aveng is required to update the pro forma financial information contained in the Circular using the most recently published financial results. Updated pro forma financial information is now provided for the six months ended 31 December 2016 below and should be considered in conjunction with the details included in the previously published Circulars.

Renewal of Cautionary Announcement
As previously stated, Aveng is still in discussions in relation to the sale of the Aveng Trident Steel business unit and shareholders are advised to continue to exercise caution when dealing in Aveng Ltd. securities until a further announcement is published. Forward-looking statements

This announcement includes forward-looking statements that reflect the current views and expectations of the Board with respect to future events and financial and operational performance. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning the Group's strategy; the economic outlook for the industry; and the Group's liquidity and capital resources and expenditure.

These forward-looking statements speak only as of the date of this announcement and are not based on historical facts, but rather reflect the Group's current expectations concerning future results and events. The Group undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this announcement.

Aveng shareholders (“Shareholders”) are advised that the company posted a circular to Shareholders on Monday, 27 February 2017 (“Circular”). The purpose of the Circular is to provide Shareholders with information relating to the proposed disposal of a 51% beneficial interest in the Grinaker-LTA business, owned and operated by Aveng (Africa) (Pty) Ltd., to Kutana Construction (Pty) Ltd. (“Kutana Construction”) and the subsequent issue of a non-voting equity instrument by Kutana Construction to Aveng Africa resulting in Aveng disposing of an effective 45% economic interest in the Grinaker-LTA business to Kutana Construction (“Disposal”). The information contained in the Circular will enable Aveng Shareholders to make an informed decision in respect of the relevant resolutions and to convene a general meeting at which Shareholders will be requested to vote on the resolutions to approve the Disposal (“General Meeting”).

Notice of General Meeting
The General Meeting will be held at, Aveng Park, Block A, 1 Jurgens Street, Jet Park, Boksburg, 1459, on Wednesday 29 March 2016, commencing at 10h00, to consider the resolutions required to effect the Disposal.

Salient dates and times
The salient dates and times relating to the Disposal are set out below:
*Record date on which Aveng Shareholders must be recorded in the company"s securities register in order to be entitled to receive notice of the General Meeting - Friday, 17 February 2017
*Circular posted to Aveng Shareholders - Monday, 27 February 2017
*Last date to trade Aveng ordinary shares in order to be eligible to participate and vote at the General Meeting - Monday, 20 March 2017
*Record date on which Aveng Shareholders must be recorded in the company"s securities register in order to be entitled to participate in and vote at the General Meeting -Friday, 24 March 2017
*Forms of proxy for the General Meeting to be received by 10h00 on Monday, 27 March 2017
*General Meeting to be held at 10h00 on Wednesday, 29 March 2017
*Results of the General Meeting released on SENS on Wednesday, 29 March 2017

Aveng reported an adjusted headline loss of R76 million or 19.2 cents loss per share for the six months ended 31 December 2016, compared to a headline loss of R231 million or 58 cents loss per share for the comparative period.

In line with expectations, Group revenue declined by 21% to R14.3 billion (2015: R18 billion), due to a weak macro-economic climate and the completion of some large projects, with McConnell Dowell being most significantly impacted. Adjusted net operating earnings increased to R151 million from R52 million in 2015, driven primarily by a marked improvement in Aveng Grinaker-LTA, Aveng Trident Steel and a 25% reduction in Group overheads. This improved performance was partially offset by the under-performance at McConnell Dowell and the impact of the downturn in the mining sector in the prior year.

Outlook and prospects
Challenging economic conditions are expected to continue in the short term. There are attractive mining opportunities being investigated as a result of a more optimistic outlook emerging on commodity prices. We expect the benefits of the various business optimisation initiatives to continue to contribute to performance in the second half of the financial year as the business positions itself for profitable growth within the second phase of our strategy.

The claims resolution process on QCLNG is expected to be concluded during the course of the current financial year and Gold Coast in the 2018 calendar year. In addition, we are involved in other significant commercial close outs and negotiations which add uncertainty. Winning work at acceptable margins, improving operational performance and the recovery of claims remain a priority for McConnell Dowell.

The Group will look to grow the Aveng Grinaker-LTA order book with the finalisation of the transformation transaction, which is aligned to the strategy of Aveng to further develop and transform the South African construction industry and will ultimately result in value enhancement for shareholders.

The divestment of Aveng Trident Steel remains an objective, however the achievement of acceptable value under current market conditions is likely to be challenging.

Appointment of new sponsor/change in sponsor
Shareholders are advised that the Company has appointed UBS South Africa (Pty) Ltd. as sponsor to the Company, replacing JP Morgan Equities South Africa (Pty) Ltd., with effect from 10 February 2017.

Following the trading statement issued on 13 February 2017, Aveng received the award notification from a Dispute Adjudication Board in relation to the Mokolo Crocodile Water Augmentation project claim previously instituted by the Group. Aveng had not previously anticipated receiving this award during the reporting cycle. Whilst the award was in favour of the Group, the amount awarded was significantly less than that which was anticipated in the preparation of the 31 December 2016 results. Aveng is not in agreement with this award and is considering filing a notification of dissatisfaction which may move this dispute into arbitration.

Despite the Group's view on the recoverability of this claim, Aveng believes that it is prudent for this adjusting post balance sheet event to be recognized and the Group is therefore required to revise the previously provided guidance to the market, resulting in earnings reducing by R92 million. Shareholders are advised that the Group expects the adjusted headline loss to be between (R91) million and (R72) million.

Aveng shareholders are reminded that the unaudited financial results for the six months ended 31 December 2016 will include two non-recurring exceptional items:
*a present value charge of R165 million (R255 million payable over 12 years) for the expense pertaining to the settlement agreement (the "Settlement") concluded on 11 October 2016 with the South African government; and
*an insurance recovery related to the Moma Sands counter claims of R150 million.

Including the impact of the non-recurring items highlighted above:
*The Group anticipates reporting a headline loss of between R380 million and R400 million and between 65% and 73% worse than the headline loss of R231 million for the period ended 31 December 2015.
*HEPS is expected to reduce by between 66% and 74% and be between (96.0) and (101.0) cents per share compared to (58.0) cents per share for 31 December 2015.
*Earnings for the period is expected to decrease by between 265% and 274% and be between (R380) million and (R400) million compared to earnings of R230 million for 31 December 2015. The prior period included the once off gain on the sale of the majority of the Group's property portfolio.
*EPS is expected to reduce by between 266% and 275% and be between (96.0) and (101.0) cents per share compared to 57.8 cents earnings per share for 31 December 2015.

The forecast financial information contained in this trading statement has not been reviewed and reported on by Aveng's auditors.

Reporting
The Group's reviewed interim results for the six months to 31 December 2016 will be released on the Stock Exchange News Service on 20 February 2017. The Group will be updating the market on its business in a presentation in Johannesburg on 21 February 2017. The presentation will be webcast and will be available for all stakeholders on the Group's website, www.aveng.co.za/ir.

Trading statement for the six months ended 31 December 2016
In terms of paragraph 3.4 (b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as a reasonable degree of certainty exists that the financial results for the upcoming reporting period will differ by more than 20% from those of the previous corresponding period.

Aveng shareholders are therefore advised that the unaudited financial results for the six months
ended 31 December 2016 will include two non-recurring exceptional items:
*a present value charge of R165 million (R255 million payable over 12 years) for the expense pertaining to the settlement agreement (the "Settlement") concluded on 11 October 2016 with the South African government; and
*Aveng previously reflected a debt of R206 million from Kenmare Resources pertaining to work performed in 2011/12. During December 2016, the arbitration tribunal issued their partial ruling, with Aveng being awarded their debt of R206 million in full, together with interest. The costs award remains outstanding and is anticipated before year end. The tribunal awarded a counter claim in favour of Kenmare in the amount of R150 million. This amount together with associated legal costs, is the subject of an insurance claim. In making this award, the tribunal saw no impediment for coverage under the applicable policies. Despite the findings of the tribunal and management's view that it is probable that Aveng will recover an amount in excess of the R150 million awarded, the Group's accounting policies do not permit the recognition of insurance claims and hence a charge of R150 million has been recognised. Excluding the financial impact of the abovementioned matters, the Group expects to report adjusted headline earnings of between R1 million and R20 million. This compares to a reported headline loss of R231 million in the period ended 31 December 2015.

Including the impact of the two non-recurring items highlighted above:
*The Group anticipates reporting a headline loss of between R290 million and R310 million and between 25% and 34% worse than the headline loss of R231 million for the period ended 31 December 2015.
*HEPS is expected to reduce by between 26% and 34% and be between (73.0) and (78.0) cents per share compared to (58.0) cents per share for 31 December 2015.
*Earnings for the period is expected to decrease by between 226% and 235% and be between (R290) million and (R310) million compared to earnings of R230 million for 31 December 2015. The prior period included the once off gain on the sale of the majority of the Group's property portfolio.
*EPS is expected to reduce by between 226% and 235% and be between (73.0) and (78.0) cents per share compared to 57.8 cents earnings per share for 31 December 2015.

The improvement in adjusted headline earnings being between R1 million and R20 million compared to an headline loss of R231 million (31 December 2015), being defined as excluding the non-recurring items described above reflects the Group's underlying performance and is as a result of:
*continued improved financial performance from Aveng Grinaker-LTA which returned to profitability in the first half of the year;
*realisation of savings in overhead expenses implemented throughout the Group which resulted in a 25% reduction compared to December 2015;
*an improved financial performance from Aveng Steel, although still loss-making; though partially offset by:
*separation costs relating to the settlement of Wesizwe's Bakubung contract in Aveng Mining; and
*under performance from McConnell Dowell which is receiving intensive attention.

Transaction update
Aveng Grinaker-LTA empowerment transaction
During the first half of the financial year, the Group concluded a binding agreement with Kutana Construction (Pty) Ltd (“Kutana Construction”) in which a 51% beneficial interest was sold to Kutana Construction. Subsequent to the initial transaction announcement, Aveng Africa Proprietary Limited's interest in the Aveng Water business has been included in the transaction. With the inclusion of Aveng Water, the net asset value attributable to the Aveng Grinaker-LTA business was R71 million and the net loss after tax was R343 million for the year ended 30 June 2016 It is anticipated that the circular pertaining to this transaction (which will include the impact of the Water business) will be posted to shareholders on 24 February 2017 with a general meeting of shareholders scheduled for 29 March 2017.

Aveng Capital Partners' transaction: receipt of proceeds from the sale of infrastructure investments
On 12 December 2016, Aveng successfully disposed of Steelmetals' N3TC equity interest for a purchase price of R195 million which was settled in cash on 12 December 2016. On 6 February 2017, the conditions precedent were fulfilled in respect of the Blue Falcon equity interest and the Windfall equity interest. The remaining funds from these disposals were received on 13 February 2017.

Aveng Steeledale disposal
As previously announced the Group concluded a binding agreement with Kutana Steel (Pty) Ltd (“Kutana Steel”) whereby Kutana Steel will effectively acquire a 70% interest in the Steeledale business, for approximately R252 million. The Group confirms that all conditions precedent to the transaction have been met. While the effective date is 1 January 2017, Steeledale Proprietary Limited has received approval for a funding facility, which is in the process of being concluded, and which will allow the payment to Aveng of at least the minimum upfront cash amount, and implementation of the transaction on 10 February 2017. The parties remain confident in, and committed to, the future success of the Steeledale business.

Aveng Trident Steel
Further to the renewal of the cautionary announcement on 9 January 2017 regarding Aveng Trident Steel, the Group remains in discussions with parties on this transaction, and has not yet reached a stage where an announcement can be made on the naming of prospective buyers, transaction value and structure. The market will be kept informed once there are material developments to report. QCLNG claims settlement update The hearings pertaining to the arbitration process were completed and the process is in its final stages prior to an award being made. This is expected during the course of the current financial year.

Appointment of new sponsor / change in sponsor
Shareholders are advised that the Group has appointed UBS South Africa (Pty) Ltd as sponsor, replacing JP Morgan Equities South Africa (Pty) Ltd, with effect from 10 February 2017.

Reporting
The Group's reviewed interim results for the six months to 31 December 2016 will be released on the Stock Exchange News Service on 20 February 2017. The Group will be updating the market on its business in a presentation in Johannesburg on 21 February 2017. The presentation will be webcast and will be available for all stakeholders on the Group's website, www.aveng.co.za/ir.

Renewal of Cautionary Announcement
As noted above, Aveng remains in discussions in relation to the sale of the Aveng Trident Steel business unit, and shareholders are advised to continue to exercise caution when dealing in Aveng Ltd. securities until a further announcement is published.

Shareholders are referred to the detailed SENS announcement on 11 October 2016, and the pro forma financial effects and cautionary announcement on SENS dated 22 November 2016 relating to the introduction of an economic empowerment partner into the Grinaker-LTA business (“the Transaction”).

Shareholders are advised that due to continuing negotiations between Aveng (Africa) (Pty) Ltd. (“Aveng Africa”) and Kutana Construction (Pty) Ltd. regarding the inclusion, or otherwise, of certain water business related contracts within the Transaction, which in turn may lead to the inclusion of Aveng Africa's interest in Aveng Water (Pty) Ltd. within the originally announced Transaction, the Company applied to the JSE Ltd. for dispensation from the requirement, set out in paragraph 10.9 of the JSE Listings Requirements, for the necessary circular to be posted to shareholders within 60 days of the terms announcement being published on SENS. On 13 December 2016, the JSE granted such dispensation and the period for the posting of the circular was extended to 28 February 2017.

Further cautionary
Aveng Africa is still in negotiations in relation to the sale of the Aveng Trident Steel business unit and shareholders will receive a further update in this regard in due course. Shareholders are advised to continue exercising caution when dealing in Aveng Ltd. securities until a further announcement is published.

Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on 24 January 2017. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2016 (inclusive) and ending on 24 January 2017 (exclusive) (“Coupon Period”), from the close of trade on Tuesday, 17 January 2017 until the close of trade on Friday, 20 January 2017. The interest amount to be paid on Tuesday 24 January 2017 will be R362.50 for each ZAR10 000.00 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
Last date to trade in order to participate in this interest payment - Tuesday, 17 January 2017
Ex date - Wednesday, 18 January 2017
Record date - Friday, 20 January 2017
Payment date - Tuesday, 24 January 2017

Further to the SENS issued on 1 December 2016, with respect to the disposal of certain of the Aveng Capital Partner's assets, being the equity interests and loans in the specific project companies (“the Transaction”). The Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Ltd.

In the Share Sale Agreement entered into between Celanex (Pty) Ltd., Royal Bafokeng Holdings (Pty) Ltd., Aveng (Africa) (Pty) Ltd. and Steelmetals (Pty) Ltd., the parties agreed to a longstop date of 30 November 2016, by which the conditions precedent to the transaction would be fulfilled. The parties executed an addendum to the Share Sale Agreement extending the longstop date to 23 December 2016. Subsequent to the extension of the longstop date the following was achieved:
- Aveng successfully disposed of Steelmetals N3TC Equity Interest for a purchase price of R195 million and funds flowed on 12 December 2016;
- Aveng received the consent of the Department of Energy to dispose of the Windfall Equity Interest and the Blue Falcon Equity Interest, which has resulted in one of the major conditions precedent to the disposal being fulfilled.

However, as certain of the conditions precedent with respect to the Windfall Equity Interest, the Blue Falcon Equity Interest and the Imvelo Equity Interest have still not been fulfilled, the parties have agreed to execute a second addendum to the Share Sale Agreement, further extending the longstop date to 31 January 2017, being the date by which the parties expect all outstanding required consents and approvals for the sale of the Windfall Equity Interest and the Blue Falcon Equity Interest to be in place.

AEG 201612220015A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Wednesday, 21 December 2016, that Public Investment
Corporation SOC Ltd have acquired an interest in the
ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by Public Investment
Corporation now amounts to 10,279% of the total issued
ordinary shares of Aveng.

Jet Park

22 December 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 22/12/2016 11:40:00 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.

Further to the Group's General Meeting on 14 November 2016, shareholders approved the disposal of certain of the Aveng Capital Partner's assets, being the equity interests and loans in the specific project companies (“the Transaction”). The Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Ltd.

In the Share Sale Agreement entered into between Celanex (Pty) Ltd., Royal Bafokeng Holdings (Pty) Ltd., Aveng (Africa) (Pty) Ltd. and Steelmetals (Pty) Ltd., the parties agreed to a longstop date of 30 November 2016, by which the conditions precedent to the transaction would be fulfilled. As certain of the conditions precedent have not been fulfilled, the parties have agreed to execute an addendum to the Share Sale Agreement, extending the longstop date to 23 December 2016, being the date by which the parties expect all outstanding required consents and approvals for the sale of the Windfall Equity Interest and the Blue Falcon Equity Interest to be in place. Notwithstanding the longstop date of 23 December 2016, the Addendum to Share Sale Agreement further provides that the conditions precedent in respect of the disposal of the Imvelo Equity Interest may be fulfilled by no later than 31 March 2017. This allows the Imvelo sale conditions precedent to be fulfilled after the longstop date of 23 December 2017 without affecting the validity or enforceability of the sale of the Imvelo Equity Interest.

With the intention of substantially transforming the Aveng Grinaker-LTA Business ("Business"), on 11 October 2016, the Group advised shareholders that Aveng Africa (Pty) Ltd. ("Aveng Africa"), a wholly owned subsidiary of Aveng Ltd., has entered into binding agreements with Kutana Construction (Pty) Ltd. (“Kutana Construction”) whereby Kutana Construction will acquire a 51% Beneficial Interest (which as a result of a non-voting equity instrument structure converts to effectively a 45% economic interest ("Economic Interest"), in the Business on 1 February 2017, (the "Proposed Transaction").

The net asset value of the Business as at 30 June 2016 was R369 million. The after taxation loss attributable to the interest for the year ended 30 June 2016 was R112 million.

Renewal of Cautionary
Aveng Africa (Pty) Ltd. is still in discussions in relation to the sale of Aveng Trident Steel and shareholders will receive a further update in this regard in due course.

Therefore shareholders are advised to continue to exercise caution when dealing in their Aveng securities.

Shareholders are advised that at the two general meetings held, the requisite majority of shareholders approved all the ordinary resolutions, as set out in the notices of the general meetings. There were 416 670 931 ordinary shares in issue at the date of the general meetings.

Shareholders are advised that at the annual general meeting, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416,670,931 ordinary shares in issue as at the date of the annual general meeting.

AEG 201610210025A
Chairman statement to shareholders at AGM

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
(“Aveng Group”, “Aveng” or "Group")


AVENG GROUP CHAIRMAN MAHOMED SEEDAT'S STATEMENT TO SHAREHOLDERS AT THE
ANNUAL GENERAL MEETING HELD ON 21 OCTOBER 2016


MARKET UPDATE


Operating conditions in South Africa and other markets in sub-Saharan Africa, Australasia and Southeast
Asia remain difficult due to the continued global economic downturn and associated intense competition.
Challenging economic conditions are expected to continue in the short term, although with more positive
medium term opportunities in Australia. More recently, Aveng has experienced improved tender activity
levels in mining, Australia, New Zealand and Southeast Asia as new opportunities come to market.


Aveng is today a more focused business and well positioned for improved performance. This allows the
business to position itself for profitable growth within the second phase of our strategy.




STRATEGIC UPDATE


Since the 2016 year-end, Aveng has progressed the following strategic transactions:


The monetisation of the Aveng Capital Partners' investment portfolio has been concluded following four
major infrastructure investments reaching a position and a time where meaningful value could be extracted.
Royal Bafokeng Holdings (Pty) Ltd will acquire three of these assets while Futuregrowth, an existing
shareholder of the N3TC will exercise their pre-emptive rights and acquire the Group's full equity interest in
N3TC.


Aveng has reached an agreement with Kutana Steel whereby Kutana will acquire a 70% interest in the
Aveng Steeledale business.


These two transactions are subject to shareholder approval at a shareholders' meeting scheduled for 14
November 2016.


More recently, Aveng (Africa) Proprietary Limited entered into a binding agreement with Kutana Construction
whereby Kutana will acquire a 51% beneficial interest and a 45% economic interest in Aveng Grinaker-LTA,
with the intention of substantially transforming the business. This transaction will achieve Aveng's
1
transformation objectives through partnering with a black women-owned and led company, and resulting in
the introduction of a CIBD-certified emerging contractor into the market. This will position Aveng Grinaker-
LTA for future growth and sustainability and will realise real value for shareholders. This transaction
comprises the disposal of an interest in Aveng Grinaker-LTA's business units. The effective date of this
transaction is on or about 1 February 2017, subject to shareholder and regulatory approval and other
conditions precedent.


Following an extensive period of negotiation Aveng Africa entered into a Settlement Agreement with the
South African Government. As part of the settlement, Aveng, along with other listed construction companies
have committed to contributing to a development fund. Aveng will contribute R21,25 million per annum for
the next 12 years. The present value of this obligation is approximately R170 million. Through the
Settlement Agreement reached Aveng is rebuilding trust and confidence with the public sector, in order to
collaboratively contribute to the infrastructure development needs of South Africa and the region as a whole.
The Settlement Agreement contains certain transformation obligations. Kutana Construction has committed
to assisting Aveng Africa to fulfil its transformation obligations in terms of the Settlement Agreement, by
means of the proposed transaction mentioned above.

The Group is still in negotiations in relation to the sale of Aveng Trident Steel.


BUSINESS UPDATE


Construction and Engineering - Australasia and Asia: The planned return to reasonable profitability and
reversal of the negative working capital and cash flow cycle is progressing, albeit at a slower pace than
anticipated. The guidance relating to the timing of the final outcome of both the QCLNG and Gold Coast
claims remains unchanged. The outcome of both of these claims remains a material risk to the Group, albeit
cash accretive.


Construction and Engineering - South Africa and rest of Africa: Aveng Grinaker-LTA has established a solid
base for future profitable growth, led by a stable, lean and disciplined management team. The planned
return to profitability is on track, while even greater attention will be given to driving the transformation
following approval of the Kutana transaction. Political and financial uncertainty together with low commodity
prices, continue to result in very competitive market conditions with subdued activity in the civil and
mechanical & electrical markets, however Aveng Grinaker-LTA Civil Engineering has recently been able to
replenish its order book through the award of a number of contracts.


Mining: Despite a marginal improvement in the mining space conditions remain challenging and lower
activity levels are expected to continue in the short term. Opportunities to deploy idle fleet are anticipated
and strong cash flow is expected in the 2017 financial year. Following amicable discussions with the client,
the scope of works on the Wesizwe Bakubung contract has been reduced. As a result, the completion date
of the contract has been brought forward and is now expected to be May 2017. The revised agreement
removes a significant risk that was highlighted in the 2016 financial results.

2
Manufacturing and Processing: Aveng Manufacturing continues to be impacted by the lack of rail
construction projects in SADC and the curtailment of rail maintenance work. The launch of a profit
improvement project is expected to improve performance in FY 2017. Aveng Steel remains negatively
impacted by low levels of infrastructure investment, there has however been some improvement in market
conditions following domestic price increases. This, together with optimal stockholding are expected to have
a positive impact in the 2017 financial year.


Order book: The Group's two year order book decreased by 5% from R28,1 billion at 30 June 2016 to R26,6
billion at 30 September 2016. The Construction and Engineering: Australasia and Asia operating segment's
order book decreased by 13% in Australian dollar terms from AUD1,5 billion at June 2016 to AUD1,3 billion
at September 2016. Construction and Engineering: South Africa and rest of Africa's order book increased by
13% from June 2016 to R7,4 billion at September 2016. The Mining order book decreased by 9% to R4,5
billion.




INTEGRATED REPORT
The Group issued its 2016 Annual Integrated Report to stakeholders on 20 September 2016. The
consolidated annual financial statements and Integrated Report have been published on the Group website,
www.aveng.co.za.


REPORTING
The interim results for the six months to 31 December 2016 will be released on SENS on 21 February 2017
when the Group will be updating the market on its business in a presentation in Johannesburg on the same
day, and in Cape Town on 23 February 2017. The presentation will be available for all stakeholders on the
Group's website, www.aveng.co.za.


DISCLAIMER
This announcement includes forward-looking statements that reflect the current views or expectations of the
Board with respect to future events and financial and operational performance. All statements other than
statements of historical fact are, or may be deemed to be, forward-looking statements, including, without
limitation, those concerning: the Group's strategy; the economic outlook for the industry; use of the proceeds
of any rights offer; and the Group's liquidity and capital resources and expenditure.


These forward-looking statements speak only as of the date of this announcement and are not based on
historical facts, but rather reflect the Group's current expectations concerning future results and events. The
Group undertakes no obligation to update publicly or release any revisions to these forward looking
statements to reflect events or circumstances after the date of this announcement.




On behalf of the Board
3
Jet Park
21 October 2016


Sponsor:
JP Morgan Equities South Africa Proprietary Limited




4

Date: 21/10/2016 01:32:00 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.

On 10 August 2016, Aveng announced on SENS (“Announcement”) the staged disposal by Aveng Africa of its steel reinforcing and mesh business to Kutana Steel (Pty) Ltd. (“Steeledale Transaction”). The Steeledale Transaction constitutes a Category 2 Related Party transaction in terms of the JSE Listings Requirements and is subject to the conditions precedent detailed in the Announcement.

Aveng Capital Partners
The Announcement also detailed that a Share Sale Agreement had been concluded in terms of which Aveng, through its wholly-owned subsidiaries Aveng Africa (Pty) Ltd. (“Aveng Africa”) and Steelmetals (Pty) Ltd. (“the Sellers”), intended to dispose of the equity interests held by the Sellers in Blue Falcon 140 Trading (RF) (Pty) Ltd., Windfall 59 Properties (RF) (Pty) Ltd., Imvelo Concession Company (RF) (Pty) Ltd. and N3 Toll Concession (RF) (Pty) Ltd. and certain loans owing to Aveng Africa (as applicable) to Celanex (Pty) Ltd., a wholly-owned subsidiary of Royal Bafokeng Holdings (Pty) Ltd. (“ACP Transaction”). The ACP Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”) and is subject to the conditions precedent detailed in the Announcement.

Posting of circulars and notice of general meetings
Shareholders are hereby advised that the notices of general meetings and the two circulars relating to the approval of the Steeledale Transaction and the ACP Transaction (“Circulars”), respectively, will be posted to shareholders today, 12 October 2016. The Circulars include summaries of the respective transactions and the pro forma financial effects of the transactions on Aveng. In addition, the circular relating to the Steeledale Transaction contains the report of the independent expert in respect of the Steeledale Transaction. The independent expert has confirmed that the terms and conditions of the Steeledale Transaction are fair to shareholders.

Notice is hereby given that the general meetings of shareholders for the approval of the Steeledale Transaction and the ACP Transactions will be held at 10h00 and 10h15, respectively, on Monday, 14 November 2016 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the Circulars.

Salient dates
The Circulars containing the notices of general meetings will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 7 October 2016, being the notice record date used to determine which shareholders are entitled to receive notices of the general meetings.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the general meetings is Friday, 4 November 2016 (“Voting Record Date”). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 1 November 2016. Forms of proxy must be lodged by no later than 10h00 on Thursday, 10 November 2016.

Having completed the first phase of its strategy, namely recover and stabilise, Aveng is presently executing the second phase, position for profitable growth. Aveng has stabilised Aveng Grinaker-LTA and is now moving boldly to position itself in South Africa and the rest of Africa for growth by transforming itself in a meaningful and irrevocable manner.

Shareholders were advised on 23 February 2016, that Aveng Ltd. has prioritised the transformation of the construction business conducted by Aveng Grinaker-LTA. The negotiations relating to such a transaction have now been concluded. In keeping with Aveng Ltd."s transformation objectives, Aveng Africa (Pty) Ltd. (Aveng Africa), a wholly-owned subsidiary of Aveng Ltd., has entered into binding agreements with Kutana Construction (Pty) Ltd. (Kutana Construction) (a black women-owned entity) whereby Kutana Construction will acquire a 51% Beneficial Interest (as defined below) in the Business (as defined below). As a result of the subscription by Aveng Africa for a non-voting equity instrument (NVE Instrument, as defined below) in Kutana Construction, the net economic interest which Kutana Construction will acquire equates to an initial 45% Economic Interest (as defined below) (the Proposed Transaction) in the Business with effect from on or about 1 February 2017 (the Effective Date). The Proposed Transaction is structured in a manner which realises real value relating to the Business for Aveng Ltd. and its shareholders, albeit on a deferred value and payment basis.

Moreover, through the implementation of the Proposed Transaction, Aveng Ltd. will (i) achieve its transformation objectives, including (a) introducing a black women-owned participant and emerging black contractors into the market, and (b) developing and attracting black professional and management skills in the construction sector; (ii) creating a platform for growth and sustainability for the Business within the South African construction industry; and (iii) aligning the strategy of the Business with the Government"s economic transformation agenda and policies. This will further the development and transformation of the South African construction industry as a whole.

Due to the financial performance of the Business over the past number of years, a transaction has been developed whereby the purchase price will be determined on the financial performance of Aveng Grinaker LTA over the 2018, 2019 and 2020 financial years, being a six (6) times multiple of average annual earnings before interest, taxes, depreciation and amortisation (“EBITDA”, as defined below) for those years. The purchase price for the 45% Economic Interest is capped to a maximum amount of R756 million and with a floor price based on the fair value of the Business at that future date, referencing, amongst other measurements, the net asset value of the Business. The net asset value attributable to the 45% Economic Interest being disposed of amounted to R203 million at 30 June 2016.

Furthermore, shareholders are advised that Aveng Africa entered into a settlement agreement (the Settlement Agreement) with the Government of the Republic of South Africa (the Government). The Settlement Agreement, inter alia, contains certain transformation obligations. Kutana Construction has committed to assisting Aveng Africa to fulfil its transformation obligations in terms of the Settlement Agreement, by means of the Proposed Transaction.

Proposed introduction of an economic empowerment parnter
Aveng Africa owns and operates the Aveng Grinaker-LTA business, a leading engineering and construction business. This transaction comprises the disposal of an interest in its operating divisions, other than that of the water division (hereinafter collectively referred to as "the Business").

Aveng Africa has entered into binding agreements with Kutana Construction whereby Kutana Construction will acquire a 51% Beneficial Interest (which as a result of a NVE Instrument structure converts to a 45% Economic Interest), in the Business on the Effective Date (the Proposed Transaction), with the intention of substantially transforming the Business. At 30 June 2016, the net assets attributable to the Business were R450 million, equating to R230 million attributable to the 51% Beneficial Interest and R203 million attributable to the 45% Economic Interest disposed of in favour of Kutana Construction.

Further cautionary
With the rationalisation and closure of its facilities in Vanderbijlpark, the remaining operations of Aveng Steel Fabrication have been incorporated into the operations of Aveng Trident Steel. Aveng Africa is still in negotiations in relation to the sale of Aveng Trident Steel and shareholders will receive a further update in this regard in due course. Considering the aforegoing, shareholders are advised to continue exercising caution when dealing in Aveng Ltd. securities until a further announcement is published. Further information, including the pro forma financial effects of the Proposed Transaction, together with a detailed timetable pertaining to the Proposed Transaction, will be published in due course.

In terms of section 7.2 of the Debt Listings Requirements of the JSE Ltd., investors are advised that the group's 216 annual financial statements are available for viewing and downloading at www.aveng.co.za.

Shareholders are hereby advised that the Notice of Annual General Meeting which includes an extract from the summarised consolidated annual financial statements will be posted to Aveng shareholders on Monday, 19 September 2016. The Notice of Annual General Meeting contains no modifications to the audited group results for the year ended 30 June 2016, published on SENS and media on Tuesday, 23 August 2016. An abridged report will therefore not be published. The Integrated Report is available on the Company's website (www.aveng.co.za).

Notice is hereby given that the seventy-second Annual General Meeting of shareholders will be held at 10h00 on Friday, 21 October 2016 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jet Park, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting.

Salient dates
The Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 9 September 2016, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 14 October 2016 (“Voting Record Date”). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Tuesday, 11 October 2016. Forms of proxy must be lodged by no later than 10h00 on Wednesday, 19 October 2016.

AEG 201609080035A
Beneficial interest in securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Wednesday, 7 September 2016, that Public Investment
Corporation SOC Ltd have acquired an interest in the
ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by Public Investment
Corporation now amounts to 5.347% of the total issued
ordinary shares of Aveng.

Jet Park

8 September 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 08/09/2016 03:03:00 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.

Steeledale transaction
Further to the Group's announcement on SENS on 10 August 2016 where shareholders were advised that Aveng had reached an agreement with Kutana Steel (Pty) Ltd (Kutana) whereby Kutana would acquire a 70% interest in the Steeledale business (the “Interest”). The net asset value of the Interest as at 30 June 2016 was R167 million. The after taxation loss attributable to the interest for the year ended 30 June 2016 was R2 million.

ACP transaction
Further to the Group's announcement on SENS on 10 August 2016 where shareholders were advised that the monetisation of the four major infrastructure investments (“ACP Assets”) had been concluded through a binding agreement with Royal Bafokeng Holdings (Pty) Ltd, for the sale of its entire interest in the investments. The net asset value of the ACP Assets as at 30 June 2016 was R860 million. The after taxation profits attributable to the ACP assets for the year ended 30 June 2016 was R132 million.

Cautionary
Aveng is still in discussions in relation to (i) the sale of its Aveng Trident Steel and Aveng Steel Fabrication business units, and (ii) the transformation of Aveng Grinaker-LTA, accordingly shareholders are advised to continue to exercise caution when dealing in Aveng Limited securities until a further announcement is published.

Revenue for the year lowered to R33.755 billion (2015: R43.930 billion). Gross earnings increased to R2.495 billion (2015: R2.364 billion), net operating earning turned around to R146 million (2015: loss of R288 million), loss for the period attributable to equity-holders of the parent narrowed to R101 million (2015: loss of R460 million), while headline loss per share fell to 75.2 cents per share (2015: loss of 144.3 cents per share).

Outlook and prospects
Challenging economic conditions are expected to continue in the short term, although with more positive medium term opportunities in Australia. Aveng is a more focused business and well positioned for improved performance. Aveng expects the benefits of business optimisation to further contribute to this improved performance in the next financial year. This allows the business to position itself for profitable growth within the second phase of the group"s strategy.

The claims settlement process on QCLNG is expected to be concluded in 2017 and on Gold Coast in 2018.

The Group continues to investigate and pursue transformational alternatives for Aveng Grinaker-LTA. The divestment of Aveng Trident Steel remains an objective; however, the achievement of acceptable value under current market conditions is likely to be challenging.

Shareholders are advised that non-executive director Mr Angus Band has retired from the board of directors of Aveng with effect from 19 August 2016.

AEG 201608150030A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng received formal notification on
Friday, 12 August 2016, that clients of Investec Limited
have, in aggregate, acquired an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Investec"s clients now
amounts to 5.0571% of the total issued ordinary shares of
Aveng.

Jet Park

15 August 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 15/08/2016 03:21:00 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.

- A trading statement indicating a full year headline loss being between 45% and 55% better, and the basic loss in earnings between 75% and 85% better than the comparative period.
- Agreements signed for the following significant transactions:
o sale of Aveng Capital Partner's equity interests in four major infrastructure investments for R860 million cash; and the
o sale of a 70% interest in the Group's steel reinforcing and mesh business for approximately R252m of which between R93 million and R123 million will be in cash and the remainder paid on a deferred basis.

Trading statement announcement
In accordance with section 3.4 (b) of the JSE Listings Requirements, shareholders are advised that the headline loss per share (“HEPS loss”) for the 12 months ended 30 June 2016 will be between 45% and 55% better than the comparative period. The HEPS loss will be between (65)cps and (79)cps, compared to (144.3)cps in 2015, while the headline loss for the year will be between (R260) million and (R318) million, compared to (R578) million in 2015.

The basic loss per share (“EPS loss”) will be between 75% and 85% better than the comparative period. The EPS loss will be between (17)cps and (29)cps, compared to (114.8)cps in 2015, with basic loss in earnings of between (R69) million and (R115) million for the year, compared to (R460) million in 2015.

This result is a material improvement on the prior year and is underpinned by:
- an improved financial performance from Aveng Grinaker-LTA on completion of loss-making and non-contributing contracts, an improvement in the ratio of contracts operating at tendered margins, strong performance in the building business, the resolution of some major commercial claims and a further reduction in fixed operating expenses
- realisation of cost savings initiatives previously implemented throughout the Group
- improved financial performance from Aveng Steel in the second half of the year
- fair value gains on the infrastructure investments though partially offset by:
* restructuring expenses incurred to further right-size the Group's overhead structure in response to market conditions
* underperformance on certain contracts in McConnell Dowell
* additional expenses on a problematic water contract in Aveng Water
* contract cancellations and activity reductions in Aveng Mining
* continuing difficult trading conditions in most of the markets in which the Group operates.

The basic loss for the year includes the profit on sale of the South African property portfolio of R577 million in the first half of the year, partially offset by the impairment of certain steel assets recognised in the second half of the year.

Aveng Capital Partners' infrastructure investments
Further to the Group's half year results announcement on SENS on 23 February 2016, the monetisation of the four major infrastructure investments has been largely concluded. A wholly-owned subsidiary of Aveng, Aveng Africa (Pty) Ltd., has concluded a binding agreement with Royal Bafokeng Holdings (Pty) Ltd., for the sale of its entire interest in the investments as detailed in the terms below.

Conditions precedent to the disposal transaction include the waiver of the pre-emptive rights by current shareholders, and compliance, regulatory and lender approvals. Shareholder approval is required for this transaction by virtue of its quantum.

Aveng Steeledale
Further to the renewal of the cautionary announcement on 4 July 2016 regarding the divestiture from the Group's steel assets, shareholders are advised that a wholly-owned subsidiary of Aveng, Aveng Africa (Pty) Ltd., has reached an agreement with Kutana Steel (Pty) Ltd. (Kutana) whereby Kutana will acquire a 70% interest in the Steeledale business for approximately R252 million, with between R93 million and R123 million payable in cash and the remainder payable on a deferred basis. Aveng Africa will have the option to divest from the remaining 30% shareholding in the Steeledale business at any time after three years.

The Kutana group of companies is a black women-owned investment group. Thoko Mokgosi-Mwantembe is the CEO of the Kutana group of companies. Ms Mokgosi-Mwantembe is an independent non-executive director of Aveng Ltd. and other major South African listed companies. The sale to an affiliate of a director is deemed to be a sale to a related party and hence shareholder approval is required to complete this transaction. Refer to the transaction details provided below.

The proceeds from these transactions will be used to primarily strengthen the balance sheet of the Group to support Aveng's move to the next phase of its strategy, namely, positioning for growth. Aveng Grinaker-LTA

Further to the Group's half year results announcement on SENS on 23 February 2016, the empowerment of Aveng Grinaker-LTA through the introduction of a B-BEEE partner is progressing well and shareholders will be updated in due course.

Aveng Trident Steel and Aveng Steel Fabrication
Further to the renewal of the cautionary announcement on 4 July 2016 regarding the divestiture from the Group's steel assets, an update on the status of this transaction will be provided at the results presentation on 23 August 2016.

Cautionary
Aveng is still in negotiations in relation to (i) the sale of its Aveng Trident Steel and Aveng Steel Fabrication business units, and (ii) the introduction of a B-BBEE partner to Aveng Grinaker-LTA, accordingly shareholders are advised to continue to exercise caution when dealing in Aveng Ltd. securities until a further announcement is published. Further information, including the pro forma financial effects of the proposed ACP and Steeledale transactions, together with a detailed timetable pertaining to these proposed transactions, will be published in due course.

Reporting
The Group's results for the twelve month period ending 30 June 2016 will be released on SENS on 23 August 2016 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day and in Cape Town on 25 August 2016. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

AEG 201607070030A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification that
clients of Coronation Asset Management (Pty) Ltd have, in
aggregate, acquired an interest in the ordinary shares of
Aveng, such that the total interest in the ordinary
shares of Aveng held by Coronation Asset Management
clients now amounts to 5.109% of the total issued
ordinary shares of Aveng.

Jet Park

7 July 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 07/07/2016 03:45:00 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.

Shareholders are referred to the cautionary announcement released on SENS on 23 February 2016 (and the subsequent renewal of this announcement), in which Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng on, either the entire Steel operating group or certain of its individual business units.

Confidential discussions with regards to the above are ongoing. In addition, as mentioned in the interim results announcement on 23 February 2016, management is progressing with the other strategic initiatives as detailed in the aforementioned results announcements. Therefore shareholders are advised to continue to exercise caution when dealing in their Aveng securities.

Shareholders are advised that non-executive director Mr Peter Ward will be retiring from the board of directors of Aveng with effect from 30 June 2016.

Bondholders of the Aveng Ltd. Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on 25 July 2016 (given 24 July 2016 is a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2016 (inclusive) and ending on 24 July 2016 (exclusive) (“Coupon Period”), from the close of trade on Tuesday, 19 July 2016 until the close of trade on Friday, 22 July 2016. The interest amount to be paid on Monday, 25 July 2016 will be R362.50 for each R10 000 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
*Last date to trade in order to participate in this interest payment: Tuesday, 19 July 2016
*Ex date: Wednesday, 20 July 2016
*Record date: Friday, 22 July 2016
*Payment date: Monday, 25 July 2016

Shareholders are referred to the cautionary announcement released on the Stock Exchange News Service of the JSE Ltd. on 23 February 2016 (and the subsequent renewal of this announcement), in which Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng on, either the entire Steel operating group or certain of its individual business units.

Confidential discussions are ongoing and shareholders are advised to continue to exercise caution when dealing in their Aveng securities.

Shareholders are referred to the cautionary announcement released on the Stock Exchange News Service of the JSE Ltd. on 23 February 2016, where Aveng shareholders were advised of various non-binding offers received from numerous parties to acquire from, or partner with Aveng, either the entire Steel operating group or certain of its individual business units.

Confidential discussions are ongoing and shareholders are to continue to exercise caution when dealing in their Aveng securities.

AEG 201603220046A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Friday, 18 March 2016, that Public Investment Corporation
SOC Ltd have disposed of an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Public Investment
Corporation now amounts to 4.42% of the total issued
ordinary shares of Aveng.

Jet Park

22 March 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 22/03/2016 03:24:00 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.

AEG 201603070029A
Beneficial interest in securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Thursday, 3 March 2016, that Public Investment
Corporation SOC Ltd have disposed of an interest in the
ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by Public Investment
Corporation now amounts to 9.22% of the total issued
ordinary shares of Aveng.

Jet Park

7 March 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 07/03/2016 12:58:00 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.

AEG 201603040006A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Wednesday, 2 March 2016, that clients of Kagiso Asset
Management (Pty) Ltd have, in aggregate, acquired an
interest in the ordinary shares of Aveng, such that the
total interest in the ordinary shares of Aveng held by
Kagiso Asset Management"s clients now amounts to 5.07% of
the total issued ordinary shares of Aveng.

Jet Park

4 March 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 04/03/2016 08:51:00 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.

AEG 201602260043A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Thursday, 25 February 2016, that clients of Investec
Limited have, in aggregate, acquired an interest in the
ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by Investec"s clients
now amounts to 5.0157% of the total issued ordinary
shares of Aveng.

Jet Park

26 February 2016

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 26/02/2016 12:59:00 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.

Investors are advised that the group's reviewed interim financial statements for the six months ended 31 December 2015 are available for viewing and downloading at www.aveng.co.za.

Following the previously announced strategic refocus initiated by the Board for the Steel operating group, amongst other actions, Aveng has received various non-binding offers from numerous parties, to acquire or partner with Aveng, for both the entire operating group and/or for certain of its individual business units. Confidential discussions are ongoing though there can be no certainty that these discussions will result in any transactions. Accordingly, shareholders in Aveng should exercise caution when trading in their securities.

Revenue decreased by 25% to R18.0 billion against the comparative period"s R23.9 billion. This is largely attributed to the continued weak demand for infrastructure in our key markets of South Africa and Australia, which was partially offset by opportunities in Southeast Asia and New Zealand. Four of the key sectors namely, mining, Oil & Gas, steel and publicly funded infrastructure projects in South Africa remained subdued. Gross margin for the Group improved to 7.2% compared to 6.5% in the comparative period.

Net operating earnings decreased by 87% to R52 million, from R413 million in 2014, as a result of:
- Reduced earnings at McConnell Dowell, due to lower activity levels, combined with a disappointingly low margin performance within Australian Operations;
- Severe weakness in steel demand and pricing, resulting in an operating loss at Aveng Steel;
- Lower margins due to commodity price pressure in the mining business;
- The inclusion of four months of results of the Electrix business in the prior period; and
- Lower fair value gains in Aveng Capital Partners due to most renewable energy projects reaching market maturity in the prior period.

This was partially mitigated by:
- A substantially improved performance at Aveng Grinaker-LTA;
- Solid underlying results from Aveng Mining and Aveng Manufacturing, albeit at lower volumes; and
- Decreased operating expenses.

EBITDA decreased by 46% to R496 million from R928 million in 2014. Gain on property transaction of R577 million relates to the sale and leaseback of the majority of the Group"s property portfolio. An impairment charge of R23 million was recognised against abandoned plant and equipment in the Mining segment.

Net finance charges of R156 million decreased by 6% in relation to the comparative period, as a result of larger average cash balances, offset by lower convertible bond costs in the comparative period (R52 million). The taxation expense amounts to R218 million compared to R125 million for December 2014. This represents an effective tax rate of 48.4%, versus 25.7% in the comparative period. This is mainly attributable to withholding tax of R103 million payable on profit expatriated from Guinea following the completion of a project.

Headline earnings decreased to a loss of R231 million from an earnings of R138 million. Items excluded from the calculation of headline earnings include impairment charges and the gains on the property transaction. Earnings per share of 57.8 cents (2014: 89.3 cents) decreased by 35.3% and headline loss per share (HEPS) of 58.0 cents reduced compared to HEPS of 34.5 cents in the comparative period.

Outlook and prospects
Aveng is expecting the market to remain subdued in the short to medium term with limited evidence of large infrastructure contracts. There are attractive opportunities in Australia, New Zealand and Southeast Asia in particular. Our key markets are expected to remain tough and management will continue to take the necessary actions to manage the business within the constraints of the current economy. Aveng will continue to focus on cash generation, cost efficiencies and preserving the balance sheet for the remainder of the financial year. In addition, notable attention will be given to the strategic initiatives described above, the disinvestment from Steel, the monetisation of Aveng Capital Partners and the empowerment of Aveng Grinaker-LTA.

Strategic review and cautionary announcement
Following the previously announced strategic refocus initiated by the Board for the Steel operating group, amongst other actions, Aveng has received various non-binding offers from numerous parties, to acquire or partner with Aveng, for both the entire operating group and/ or for certain of its individual business units. Confidential discussions are ongoing though there can be no certainty that these discussions will result in any transactions. Accordingly, shareholders in Aveng should exercise caution when trading in their securities. Aveng will make further announcements, if and when appropriate. It is important to note that the disinvestment decision is based on longer-term strategic objectives. In the near term, the outlook for the steel business is improving and given our liquidity position, we are comfortable that any disposal will therefore only occur at an acceptable value.

The turnaround process of Aveng Grinaker-LTA has reached a stage where consideration can be given to position the business for future growth in terms of Aveng�s existing strategy. The transformation of the construction and engineering sector in South Africa received increased focus over the past year. In order to remain relevant to a transforming South African economy, the Board has concluded that it is a business imperative to introduce a B-BBEE partner or partners who will hold a significant equity interest in the business. Advisors have been appointed to assist Aveng in this process and stakeholders will be updated as this transaction progresses.

Consistent with the strategy of recycling the capital invested within the portfolio of Aveng Capital Partners once the underlying projects have reached an appropriate level of maturity, the Board has approved the monetisation of the existing portfolio. Assets currently under management will be disposed of in the market or seeded into a fund. An independently obtained valuation indicates substantial cash value to be realised through such transactions. The Board is of the view that executing these transactions will aid an improved return on invested capital in the medium term. Combined with the existing robust liquidity position, this will provide the Group with greater flexibility and optionality in its capital allocation.

Shareholders are advised that Aveng is currently finalising its results for the six months ended 31 December 2015 (“the period”), which will be released on SENS on 23 February 2016.

In accordance with section 3.4 (b) of the JSE Listings requirements and further to the trading statement released on 11 December 2015 in which the company indicated that headline earnings per share (“HEPS”) for the period would be at least 100% lower than the comparative six months ending 31 December 2014 (“the comparative period”), but limited to a headline loss of R300 million, shareholders are advised that the headline loss for the period is likely to be between R220 million and R240 million, with basic earnings expected to be between R220 million and R240 million. HEPS is likely to be between (55)cps and (60)cps, a decrease of between 259% and 274%, with EPS expected to be between 55cps and 60cps, a decrease of between 38% and 33%.

Reported headline earnings and basic earnings for the comparative period (released on SENS on 17 February 2015) were R138 million and R358 million respectively, while reported HEPS and EPS for the comparative period were 34.5cps and 89.3cps respectively.

The above information has not been reviewed or reported on by Aveng"s independent external auditors. The Group's results for the six months ending 31 December 2015 will be released on SENS on 23 February 2016 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

Investors are advised that the Group's 2015 annual financial statements are available for viewing and downloading at www.aveng.co.za.

Bondholders of the Aveng Limited Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on 25 January 2016 (given 24 January 2016 is a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 July 2015 (inclusive) and ending on 24 January 2016 (exclusive) (“Coupon Period”), from the close of trade on Friday, 15 January 2016 until the close of trade on Friday, 22 January 2016. The interest amount to be paid on Monday 25 January 2016 will be R362.50 for each ZAR10,000.00 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
*Last date to trade in order to participate in this interest payment: Friday, 15 January 2016
*Ex date: Monday, 18 January 2016
*Record date: Friday, 22 January 2016
*Payment date: Monday, 25 January 2016

Aveng shareholders are therefore advised that in respect of the unaudited financial results for the six months ending 31 December 2015, the Group anticipates reporting a headline loss, with HEPS reducing by at least 100% compared to 34.5 cents per share for 31 December 2014. The headline loss for the six months is expected to be no more than R300 million. This compared to a headline earnings of R138 million for the period ended 31 December 2014 and a headline loss of R716 million for the second six months ended 30 June 2015. The Group will update shareholders with a more precise range once the year end has closed.

The forecast financial information contained in this trading statement has not been reviewed and reported on by Aveng's auditors.

The expected reduction in earnings compared to 31 December 2014 is primarily attributable to:
*The continued global economic slowdown affecting the key regions in which Aveng operates – most notably Australia - , resulting in a decrease in available contracts and associated revenue;
*Severe weakness in steel demand and pricing, resulting in an operating loss at Aveng Steel;
*Significant pressure on commodity prices across the board translating into lower margins in Aveng Mining;
*The inclusion of the results of the Electrix business in the prior period (R65 million operating earnings), which was subsequently sold;
*Lower fair value gains in Aveng Capital Partners on projects completed in the comparative period; and
*Withholding tax payable of R105 million on profit expatriated from Guinea following the completion of a project.

This was partially offset by:
*An improved gross profit margin percentage as a result of a substantial improvement in the performance of Aveng Grinaker-LTA and the completion of longstanding underperforming contracts;
*Ongoing reduction in overheads throughout the Group.

Commercial claims
Actions commenced in the prior year have resulted in the successful resolution of a number of long standing claims across the Group during the current period. Notably, this includes certain claims related to the power programme in South Africa. This has added to the positive cash generation by Aveng Grinaker-LTA during the period.

Following the repayment of the advance payment linked to the QCLNG project, the arbitration process has advanced to the hearing stage, which is expected to continue through March 2016. The Group remains optimistic on the merits of these claims. Having settled the QCLNG advance payment, there are no further advance payments outstanding on the overall uncertified revenue for the Group and whilst earnings risk remains, the settlement of claims will therefore be cash accretive.

Cash and Liquidity
Aveng Grinaker-LTA's emphasis on resolving claims and debtor collections combined with improved operational performance has resulted in positive cash flow. Combined with working capital reduction in Aveng Steel and the positive cash flow from the Mining and Manufacturing business units, the South African operations are expected to be cash positive for the period.

As anticipated, McConnell Dowell continues to be cash negative in the period as a result of the utilisation of advance payments as contracts are completed and new work replenishment was slow in the prior year and the completion of remedial works on legacy projects.

The conclusion of the property sale added R1.2 billion to the overall liquidity for the Group, offset by the repayment of the QCLNG advance payment. The Group continued to review its liquidity position and remains comfortable with the current liquidity outlook.

Order book
The Group's two year order book increased by 6% since 30 June 2015 to R30.7 billion mainly due to recent project awards at McConnell Dowell and the Building business unit within Aveng Grinaker-LTA. The quality of the order book is improving as a result of a more selective approach to tendering and the reduction in the level of non-contributing revenue within the order book has led to an improved embedded margin. This has reduced the previously identified unsecured order book risk for the current year. The recent announcement from our client, Anglo American PLC, is likely to negatively impact the order book of Aveng Mining.

Notable recent awards include:
*129 Rivonia, in Sandton
*The Leonardo Towers in Sandton
*New Hilton hotel in Swaziland
*Waitaki Bridges Replacement Project in New Zealand
*O-Bahn City Access project in South Australia
*Negi Pipeline in Australia

Strategic review
The Board is concerned with the current market valuation of the Company which it feels does not reflect the intrinsic value of businesses within the Group as well as the upside potential resulting from the various performance improvement and restructuring initiatives that are underway. Despite the improvements produced by these initiatives, the Board is conscious of the poor market conditions for a number of the Group's key businesses and together with management are in the process of completing a strategic review to unlock shareholder value in a timely manner. Shareholders will be kept abreast as these initiatives come to fruition.

Reporting
The interim results for the six months to 31 December 2015 will be released on the Stock Exchange News Service system on 23 February 2016 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 25 February 2016. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za

Forward Looking statements
This announcement includes forward-looking statements that reflect the current views or expectations of the Board with respect to future events and financial and operational performance. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: the Group's strategy; the economic outlook for the industry; use of the proceeds of any rights offer; and the Group's liquidity and capital resources and expenditure.

These forward-looking statements speak only as of the date of this announcement and are not based on historical facts, but rather reflect the Group's current expectations concerning future results and events. The Group undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this announcement.

AEG 201511240052A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Monday, 23 November 2015, that clients of Allan Gray
have, in aggregate, acquired an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Allan Gray"s clients now
amounts to 20.1497% of the total issued ordinary shares
of Aveng.

Jet Park

24 November 2015


Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 24/11/2015 03:48:00 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.

AEG 201511020027A
Director"s dealing in securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


DEALING IN SECURITIES BY A DIRECTOR


In compliance with Section 3.63 of the JSE Listings Requirements, the following
information is disclosed:


Name of director : HJ Verster
Company : Aveng Limited
Transaction date : 30 October 2015
Number of securities : 230,635 @ R3.47/share
Class of securities : Ordinary shares
Total value : R799.611.50
Nature of transaction : On-market purchase of shares
Nature and extent of director's interest : Direct beneficial




The necessary clearance in terms of paragraph 3.66 of the JSE Listing
Requirements has been obtained.


By order of the Board
Jet Park
2 November 2015
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 02/11/2015 11:53:00 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.

Shareholders are advised that at the annual general meeting held today, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting. There were 416,670,931 ordinary shares in issue as at the date of the annual general meeting.

Shareholders are advised that QCLNG has requested the repayment of the remaining AUD112.5 million advance payment. This repayment was planned and has been included in the Group's liquidity analysis performed earlier this year.

Following the completion of the third and final step in Aveng's strategy to improve its balance sheet and liquidity position, namely the conclusion of the sale of various properties, combined with current levels of cash generation, the Group has sufficient cash and facilities at its disposal. This position remains in line with the trading statement issued on 11 June 2015 that stated: “Considering the Group"s operating cash flows (including the repayment of the QCLNG advance, if required), future funding requirements, available facilities and related covenants, the Group is considered to be adequately funded at this time and there is no current need for additional capital.”

Aveng intends to settle this liability on or around 28 October 2015. Once settled, Aveng will have removed the cash flow risk on the QCLNG project and will continue to vigorously pursue its legal claims through the arbitration process.

The arbitration proceedings relating to the QCLNG project are well advanced and the formal hearing will start next month, whilst a final award is expected around August 2016.

Shareholders are advised that Aveng will host an investor site visit to the Nkomati mine today, 19 October 2015 and an investor conference tomorrow, 20 October 2015 for key investors and sector analysts.

To accommodate all stakeholders, the presentations by management will be available, on Tuesday 20 October 2015 on the group website at www.aveng.co.za. The presentations do not contain undisclosed financial information of either the group or its operations.

In compliance with Section 3.59 of the Listings Requirements of the JSE Ltd., the Aveng Board announced the appointment of Mr Sean Flanagan as an independent non- executive director to the Aveng Board with effect from 1 November 2015.

Mr Flanagan,(Bachelor of Science (Building), has over 30 years of industry-specific experience derived from contract and claims negotiation, project engineering, project and construction management, setting company strategies, leading mergers and acquisitions, trouble shooting in underperforming projects and businesses, as well as full executive responsibility for a large portfolio of businesses and major projects. Mr Flanagan was previously with Murray & Roberts for 19 years in which time he occupied a range of operational, general management and executive director board roles, as well as with Erbacon, and most recently as a Consultant to Eskom on the Medupi Project, through Parsons Brinckerhoff.

The Board looks forward to Mr Flanagan's contributions to the Aveng Board.

AEG 201510020032A
Dealings in securities by a director

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


DEALING IN SECURITIES BY A DIRECTOR


In compliance with Section 3.63 of the JSE Listings Requirements, the
following information is disclosed:


Name of director : Peter Kenneth Ward
Company : Aveng Limited
Transaction date : 1 October 2015
Number of securities : 3 390 shares @ R3.65/share
: 4 610 shares@ R3.64/share
Class of securities : Ordinary shares
Total value : R29 153.90
Nature of transaction :On-market purchase of shares
Nature and extent of director's interest : Direct beneficial




The necessary clearance in terms of paragraph 3.66 of the JSE Listing
Requirements has been obtained.


By order of the Board
Jet Park
2 October 2015
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 02/10/2015 03:07:00 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.

Shareholders are hereby advised that the Notice of Annual General Meeting and the Integrated Report for the year ended 30 June 2015, which includes the summary consolidated annual financial statements, will be posted to Aveng shareholders on Monday, 21 September 2015. The Notice of Annual General Meeting and Integrated Report contain no modifications to the audited group results for the year ended 30 June 2015, published on SENS and media on Tuesday, 18 August 2015. An abridged report will therefore not be published.

The Integrated Report is available on the Company's website (www.aveng.co.za).

Notice is hereby given that the seventy-first Annual General Meeting of shareholders will be held at 10h00 on Tuesday, 27 October 2015 at Aveng Park, Main Boardroom, Block A, No 1 Jurgens Road, Jetpark, Boksburg, to transact the business as set out in the Notice of the Annual General Meeting and the Integrated Report.

Salient dates
The Integrated Report and the Notice of Annual General Meeting will be posted to Aveng shareholders who were recorded as such in the Aveng register of shareholders on Friday, 11 September 2015, being the notice record date used to determine which shareholders are entitled to receive notice of the Annual General Meeting.

The record date for shareholders to be recorded in the register of Aveng shareholders in order to be able to attend, participate and vote at the Annual General Meeting is Friday, 23 October 2015 (“Voting Record Date”). Accordingly, the last date to trade in order to be registered in the Aveng register of shareholders is Friday, 16 October 2015. Forms of proxy must be lodged by no later than 10h00 on Friday, 23 October 2015.

Business Report announced that Aveng"s mining subsidiary, Aveng Moolmans, concluded a five year extension of its contract in the Northern Cape withTshipi Borwa open-pit manganese mine. The second cycle contract extension, which was effective from 1 September 2015, was obtained following an open tender process. Aveng Mining managing director Stuart White, said that Aveng Moolmans was delighted to continue its working relationship at the Tshipi Borwa project.

According to Business report, Aveng and its partner Acciona Energia of Spain constructed a 138MW Gouda wind facility for Eskom for R2.7 billion which became fully operational last week. The wind farm and the R2.3 billion Sishen solar plant, which was completed in December by the two companies, will be collectively adding about 212MW of power capacity to South Africa's national grid. Aveng was responsible for the construction works and will play an ongoing role in operating and maintaining both projects.

AEG 201509030035A
The Off-Market Acceptance of Awards by Directors and Subsidiary Directors in Terms of the Forfeitable Share Plan.

Aveng Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")

The Off-Market Acceptance of Awards by Directors and Subsidiary Directors in Terms of the Forfeitable
Share Plan.

Awards were made on 1 September 2015 in terms of the Aveng Forfeitable Share Plan. All the awards are
for the direct beneficial interests of directors. The Board had intended to make this award in terms of the
policy earlier during the 2014/15 financial year. However, due to Aveng being in extended prohibited
periods in light of the disposal of the Electrix business, the property transaction as well as the interim and
final results, the awards could not be made earlier.

Forfeitable Share Plan (“FSP”)
Schedule 14 of the JSE Limited Listings Requirements will in this instance not apply to the FSP as awards
made under the scheme are settled by way of acquiring shares from third parties on the open market. No
new shares will be issued by the Company to any participant.

Forfeitable Shares awarded to and accepted by Directors and Subsidiary Directors:

Name of director: HJ Verster
Company: Aveng Limited
Forfeitable shares awarded: 768 400 ordinary shares
Date of transaction: 1 September 2015
Award price per share: R 4.88
Total value: R 3 749 792
Acceptance date: 3 September 2015

Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 372 800 ordinary shares
Date of transaction: 1 September 2015
Award price per share: R 4.88
Total value: R 1 819 264
Acceptance date: 3 September 2015

Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 391 000 ordinary shares
Date of transaction: 1 September 2015
Award price per share: R 4.88
Total value: R 1 908 080
Acceptance date: 3 September 2015
Name of subsidiary director: LS Letsoalo
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 348 400 ordinary shares
Date of transaction: 1 September 2015
Award price per share: R 4.88
Total value: R 1 700 192
Acceptance date: 3 September 2015

Name of subsidiary director: MH Nana
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 88 800 ordinary shares
Date of transaction: 1 September 2015
Award price per share: R 4.88
Total value: R 433 344
Acceptance date: 3 September 2015

In terms of the rules of the Scheme, the vesting period is three (3) years from the date of award and
vesting is subject to performance conditions and continued employment by the recipients.

The necessary clearance in terms of paragraph 3.66 of the JSE Listings Requirements has been obtained.

3 September 2015

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 03/09/2015 03:38:00 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.

Aveng announced that the disposal of 70% of Dimopoint (Pty) Ltd. (Dimopoint), a special purpose vehicle created for the purpose of holding certain properties and which is wholly owned by Aveng Africa (Pty) Ltd. (Aveng Africa), to Imbali Props 21 (Pty) Ltd. (Imbali 21), an entity of the Collins Property Group (Collins), has been successfully concluded and settled. The proceeds of R1.127 billion will be used to strengthen the financial position of the Group and to reduce overall debt.

AEG 201508250034A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Tuesday, 25 August 2015, that clients of Allan Gray
have, in aggregate, acquired an interest in the ordinary
shares of Aveng, such that the total interest in the
ordinary shares of Aveng held by Allan Gray"s clients now
amounts to 15.0167% of the total issued ordinary shares
of Aveng.

Jet Park

25 August 2015


Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 25/08/2015 03:55:00 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.

AEG 201508240048A
Dealings in securities by a director

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")

DEALING IN SECURITIES BY A DIRECTOR

In compliance with Section 3.63 of the JSE Listings Requirements, the
following information is disclosed:

Name of director : Michael James Kilbride
Company : Aveng Limited
Transaction date : 20 August 2015
Number of securities : 10 000
Class of securities : Ordinary shares
Price per security : R5.00 per share
Total value : R50 000
Nature of transaction :On-market purchase of shares
Nature and extent of director's interest : Direct beneficial


The necessary clearance in terms of paragraph 3.66 of the JSE Listing
Requirements has been obtained.


By order of the Board
Jet Park
24 August 2015
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 24/08/2015 05:02:00 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.

Revenue decreased to R43.9 billion (R53 billion). Gross earnings lowered to R2.4 billion (R3.6 billion). Net operating loss rose came in at R288 million (profit of R799 million), while loss for the period attributable to equity-holders of the parent widened to R460 million (loss of R381 million). In addition, headline loss per share came in at 144.3cps (earnings of 112.5cps).

Outlook and prospects
Aveng is not expecting an improvement in its key market in the short-term and will continue to focus on the recovery of underperforming businesses, resolving unsettled claims and preserving its balance sheet. There are attractive opportunities in Australia, New Zealand and Southeast Asia in particular. Although substantially lower revenue is expected for the construction business, the Group anticipates improved profitability. The Mining and Steel businesses will remain constrained by a challenging operating environment. Manufacturing will continue to focus on growth opportunities and improved financial performance.

Overall the realisation of structural improvements and improved project delivery, should result in an improved performance in the 2016 financial year.

Further to the general trading statement released on SENS on 11 June 2015, the Aveng Board of Directors wishes to provide specific guidance on the range of the expected decrease in headline earnings per share (“HEPS”) ahead of the release of its audited financial results for the twelve months ended 30 June 2015, in terms of paragraph 3.4 (b) of the JSE Listings Requirements.

Aveng shareholders are advised that in respect of the audited financial results for the twelve month ended 30 June 2015, the Group anticipates headline losses for the period to be between R550 million and R590 million, with basic losses expected to be between R430 million and R470 million. HEPS is likely to be a loss of between 137 cents per share and 147 cents per share, a decrease of between 222% and 231%, with EPS expected to be a loss of between 107 cents per share and 117 cents per share, a decrease of between 5% and 15%.

Reported headline earnings and basic (loss) for the comparative period (released on SENS on 26 August 2014) were R421 million and R(381) million respectively, while reported HEPS and EPS for the comparative period were 112.5 cents per share and a loss of 101.9 cents per share respectively.

In advising the guidance in the general trading statement of 11 June 2015, the Group highlighted challenging economic conditions in domestic and foreign markets, labour disruptions in the mining and steel sectors and higher than expected costs to complete certain contracts resulting in the Group announcing that its anticipated HEPS would decline by at least 50% compared to the comparative period's result, being a HEPS of at most 56.3 cents per share. Subsequently the following events have impacted this updated trading guidance:
* Additional provisions were raised relating to long-standing commercial claims that are under negotiation in Aveng Grinaker-LTA. These claims did not achieve sufficient progress by year end. While the Group remains confident of an acceptable commercial outcome, the increased uncertainty associated with protracted negotiation processes, resulted in this additional substantial provision.
* Although the Gouda wind farm in the Western Cape achieved its scheduled physical completion date, the unexpected low wind pattern for the specific period in the year caused a significant delay to the testing and technical compliance (sign-off) of the plant. This directly contributed in the failure to achieve the anticipated sign-off causing liquidated damages to be charged, resulting in an adverse impact on the financial results.
* Consistent with the practice adopted for its interim results, the Group has continued to conservatively recognise any increases in the deferred taxation assets for its South African business. Taking cognisance of the deterioration in market conditions during the budgeting and medium term forecasting process, the Group has taken a more prudent view thus reducing the initially anticipated deferred taxation assets recognised in Aveng Africa. Further, deferred taxation assets related to the discontinued Engineering business have not been recognised.

Management has considered the Group's operating cash flows, future funding requirements and commitments, available facilities and related covenants and despite the disappointing results, remain satisfied that these are considered adequate at this time and that there is no current need for additional capital.

Regulatory approval was granted on 12 August 2015 by the Competition Tribunal for the disposal of the majority of the Group's South African property portfolio, which is anticipated to be completed before the end of the first quarter of the 2016 financial year, in further support of the Group's liquidity position.

The Group's audited results for the year ended 30 June 2015 will be released on SENS on 18 August 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 19 August 2015. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

In compliance with Section 3.59 of the Listings Requirements of the JSE Ltd., the Aveng Group announces the following change to its board:

The appointment of Mr Philip Hourquebie as an independent non-executive director of the Aveng board with effect from 5 August 2015.

Mr Philip Hourquebie, CA (SA), BCom Finance, Bachelor of Accountancy, has extensive operational and strategic experience gained particularly from his long career at Ernst & Young. During this time he held various positions including the positions of CEO South Africa; Managing Partner: Sub-Saharan Africa Region; and Managing Partner: Central and South-East Europe Region.

Mr Hourquebie has served on various boards and committees, including the King 3 Committee on boards and Directors, Chair of the South African Institute of Chartered Accountants (SAICA), a trustee of Thuthuka Bursary Fund and a member of the Black Economic Empowerment Negotiating Forum and chair of its Steering Committee and a Commissioner of the Financial and Fiscal Commission.

The board looks forward to Mr Hourquebie's contributions to the Aveng board.

Aveng announced the appointment of Scott Cummins as Chief Executive Officer of McConnell Dowell Corporation Ltd., the Group"s Asia and the Pacific subsidiary, effective 1 October 2015. Mr Cummins replaces current CEO, David Robinson who will be retiring in October this year.

Scott brings vast experience in the construction and engineering industry across various disciplines and geographies. He has worked in project and functional management and leadership roles in the Marine, Production, Construction Engineering, Fabrication, Business Development and Regional operations for McDermott International over the last 25 years. Throughout his career he has held leadership roles in major locations across the world, including Singapore, Indonesia, Dubai and London.

Since January 2015 Scott has held the position of Senior Vice President of Commercial at McDermott International. Prior to this position his roles have included Executive Vice President Offshore, Senior Vice President and General Manager of Asia Pacific.

He is an Australian national with a Bachelor of Engineering from Monash University, Melbourne, Australia and an MBA from Strathclyde University, Glasgow, UK.

David Robinson will remain available to the company in a consulting role to assist with the commercial resolution of outstanding claims.

Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) are hereby advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrears on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%.

Accordingly, the interest payable on the Convertible Bond is due for payment on 24 July 2015. The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 24 January 2015 (inclusive) and ending on 24 July 2015 (exclusive) (“Coupon Period”), from the close of trade on Friday, 10 July 2015. The interest amount to be paid on Friday, 24 July 2015 will be R362.50 for each ZAR10 000.00 of the principal amount for the Coupon Period.

The salient dates relating to this interest payment are as follows:
* Last date to trade in order to be eligible for the interest payment : Friday, 10 July 2015
* Ex date : Monday, 13 July 2015
* Record date : Friday, 17 July 2015
* Payment date : Friday, 24 July 2015

The next interest coupon period will commence on 24 July 2015 (inclusive) and will end on 24 January 2016 (exclusive).

Aveng shareholders are advised that in respect of the financial results for the year ended 30 June 2015, the Group anticipates headline earnings per share (“HEPS”) to decline by at least 50% compared to the 112.5 cents per share reported for the comparative period. This translates to HEPS of at most 56.3 cents per share. A further announcement with a range will be issued in due course. HEPS excludes the profit on the sale of Electrix of R713 million after taxation, as well as various impairments recognised against goodwill, intangible assets and ancillary operations.

Operational Update
The challenging economic conditions in the Group"s domestic and foreign markets, labour disruptions in the mining and steel sectors and higher than expected costs to complete on certain contracts continue to have an adverse impact on the Group's operating earnings. The adverse performance is compounded by the decrease in global steel prices and the contraction in local demand at Aveng Steel, the slower than anticipated turn around to profitability at Aveng Grinaker-LTA and the deterioration of market conditions in Australia that has negatively impacted on the order book of McConnell Dowell. In response to these conditions, the Group has entered into a series of actions to reduce costs, close out contracts and improve operational efficiencies.

Restructuring and cost saving initiatives
The cost saving initiatives mentioned above have unfortunately resulted in further headcount reductions across the Group in the second half of the year. The associated restructuring expenses have been recognised in the current period. During the period, the Group initiated a program to achieve efficiency within the supply chain. This involved engagement with the Group's strategic suppliers to enable cost savings through improved pricing, the elimination of price increases or the improvement of credit terms.

Net finance expenses
As anticipated, headline earnings is expected to be negatively affected by a substantially higher net finance expense due to a lower net cash position, increased commitment fees in support of the Group"s liquidity position and a higher effective interest rate applied to the convertible bond.

Liquidity
Following the Group's withdrawal of a cautionary on 21 May 2015 there have been no further developments in terms of the sale of the majority of the Group's property portfolio. Pending the receipt of regulatory approval, the effective date of this transaction is anticipated to be in the first quarter of the new financial year. A comprehensive evaluation of the Group's forecast results to June 2015 and its short term business plan has been completed. Considering the Group's operating cash flows (including the repayment of the Queensland Curtis Liquefied Natural Gas (“QCLNG”) advance, if required), future funding requirements, available facilities and related covenants, the Group is considered to be adequately funded at this time and there is no current need for additional capital.

Order book
The Group's order book has reduced by 10% since December 2014. This reduction is primarily driven by a contraction in the infrastructure market in Australia, the completion of major projects in Australia and to a lesser extent in the Construction and Engineering: South Africa and rest of Africa segment.

Directors
Shareholders are advised that Executive Director David Robinson will be retiring as Managing Director of McConnell Dowell at the end of October 2015. The process to fill this position is well advanced. The Board would like to extend its thanks to David for his valuable contribution over the years. As announced previously, Mahomed Ismail Seedat who joined the Board in July 2012, as an Independent Non-Executive Director will succeed Angus William Band as the Independent Non-Executive Chairman with effect from 1 July 2015. Angus will retire as the Chairman of the Board with effect from 30 June 2015 but will remain on the Board as an Independent Non-Executive Director. The Group will host a conference call with investors and analysts on Thursday, 18 June 2015 at 15h00. A copy of the presentation will be available on the website at www.aveng.co.za from 15h00.

Segmental Update
Construction and Engineering: Australasia and Asia
The Group reported a decline in the order book for McConnell Dowell in its interim results to 31 December 2014. While the Group anticipated a reduction in future revenue, as a result of the completion of certain major projects in the mining and oil and gas sectors, market conditions in Australia in particular, have declined, resulting in a further deterioration in the order book. Unsuccessful tenders have led to higher than expected tender costs without a resulting improvement in the order book. In response, a cost reduction program was initiated to reduce costs to a level appropriate to the anticipated reduced revenue.

In order to reduce future uncertainty and de-risk the historical contractual exposure, McConnell Dowell has entered into a settlement agreement on the Hay Point Berth contract in respect of liquidated damages, with a resulting adverse impact on current period operating earnings. McConnell Dowell continues to pursue its legal rights in terms of the QCLNG contract. This legal process continues to progress in line with our previously communicated timeline, finalisation of the arbitration is expected in the latter half of calendar year 2016. Simultaneously, the Group continues to engage with the client to reach a suitable commercial settlement. McConnell Dowell has made progress with the advancement of outstanding issues on the Gold Coast Rapid Transit (“GCRT”) contract, in order to achieve completion of the contract in the first quarter of the new financial year, although this has resulted in higher costs. The transit system is currently operating efficiently and is experiencing higher passenger volumes than anticipated. As planned, significant progress has been made in the formulation and documentation of the commercial claims. McConnell Dowell expects to progress these claims in line with previous guidance.

Construction and Engineering: South Africa and rest of Africa
Despite making strides in its turnaround strategy, Aveng Grinaker-LTA continues to report operating losses. However, it is expected that the operating loss for the second six months will be lower than that reported in the first half. As previously reported, costs associated with Aveng Grinaker-LTA's Mokolo Crocodile Pipeline contract (“Mokolo”) and Grootegeluk Cyclic Ponds contracts, and a water purification contract within Aveng Engineering have exceeded previous estimates. The order book remains biased towards the Building business, with recent wins in flagship projects in Sandton, Cape Town and Durban.

Aveng Grinaker-LTA has continued to execute on the Recovery and Stabilise phase of the Group Strategy. This includes actions to improve risk management, tender processes, project execution and the resolution of commercial positions. Under-performing business units within Aveng Grinaker-LTA and Aveng Engineering have been restructured. During the second half of the year, action was taken to further reduce the costs and improve efficiencies and profitability within the Operating Group.

The new management at Aveng Grinaker-LTA is progressing well with the resolution of underperforming contracts and claims recoveries which should result in a more normalised margin in the near term, although still low due to competitive pressures and a lack of large infrastructure projects.

Mining
During the second half of the year, the business of Aveng Moolmans and Aveng Mining Shafts and Underground were merged under a single Aveng Mining leadership team. The performance of Aveng Moolmans continues to meet expectations despite weak commodity prices. Aveng Mining Shafts and Underground continues to manage an underperforming contract in both South Africa and Chile, respectively. In both instances, management are actively engaged with their clients to seek appropriate resolution of the commercial positions. Mining management are evaluating the merged business and will plan future activities in line with the current depressed commodity cycle. Mining continues to focus on cash flow generation in the commodity downturn and has been able to maintain positive cash flow despite the weaker trading environment.

Manufacturing and Processing
Aveng Steel has been negatively impacted by the global fall in steel prices and a contraction in local demand. This has translated into a material decline in both revenue and margins in the second half of the year. In response, a strategy of sizing the business to the current market conditions was implemented, with a further reduction in headcount following the restructuring of a number of processes and functions within the business. In addition, management continue to actively manage the investment in working capital in response to declining volumes in the local market.

Aveng Manufacturing is performing within expectations despite difficult trading conditions. Business units within Manufacturing were adversely impacted by labour disruption in both the mining and steel sectors earlier in the year. Manufacturing continues to seek improved performance through better working capital management. Cash flow in both Aveng Manufacturing and Aveng Steel remains strong.

The above information has not been reviewed or reported on by Aveng's independent external auditors. The Group"s results for the year ended 30 June 2015 will be released on SENS on 18 August 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 19 August 2015. The presentation will be available for all stakeholders on the Group"s website, www.aveng.co.za.

Shareholders are referred to the cautionary announcement dated 7 April 2015 which indicated that Aveng accepted an offer (the Offer), in terms of which Aveng had agreed to dispose of 70% of Dimopoint (Pty) Ltd. (Dimopoint), a special purpose vehicle created for the purpose of holding certain properties and which is wholly owned by Aveng Africa (Pty) Ltd. (Aveng Africa), to Imbali Props 21 (Pty) Ltd. (Imbali 21), an entity of the Collins Property Group (Collins) for approximately R1.127 billion to be settled in cash.

Shareholders are advised that as at 31 December 2014, the value of the net assets that are the subject of the transaction was R544 million. These assets are owner occupied and therefore have no profits attributable for the six months ended 31 December 2014.

Furthermore Imbali 21 and Dimopoint have secured funding on commercial terms and conditions that are acceptable to all parties involved in the transaction.

Aveng remains committed to this transaction which is pending the outcome of the Competition authorities and the other conditions precedent, as indicated in the previous announcement.

Shareholders are advised that they no longer need to exercise caution in their dealings in Aveng shares.

As previously communicated to shareholders, the Board has decided to diversify the Group's funding sources, extend the debt maturity profile, reduce overall borrowing levels and the cost thereof to enable Aveng to concurrently pursue contract claims to a positive conclusion whilst taking advantage of growth opportunities. Consequently, the Group embarked on a programme to dispose of non- core assets with the objective of raising at least R2,5 billion. The assets to be disposed of comprised properties and Electrix, the sale of which was concluded on 19 September 2014.

Aveng advised shareholders that in terms of an offer accepted by Aveng on Thursday, 2 April 2015 (the “Offer”), Aveng has agreed to dispose of 70% of Dimopoint (Pty) Ltd. (“Dimopoint”), a special purpose vehicle created for the purpose of holding the properties and which is wholly owned by Aveng Africa (Pty) Ltd. (“Aveng Africa”), to Imbali Props 21 (Pty) Ltd. (“Imbali 21”), an entity of the Collins Property Group (“Collins”) for approximately R1.127 billion to be settled in cash.

Due to the strategic nature of the investment, Aveng has elected to retain a 30% shareholding in Dimopoint and will jointly administer the Properties with Collins for a market-related fee. The Properties are currently tenanted by various entities within the Group, and Aveng Africa will sign a head lease in respect of the Properties for periods of 5 and 12 years. The effective date of the Transaction is expected to be when the last outstanding condition precedent to the Transaction has been fulfilled or waived, which is expected to be by 30 June 2015.

Conditions precedent
The Transaction is subject to inter alia, the fulfilment or waiver of the following main suspensive conditions:
* the conclusion of transaction agreements, including inter alia, shareholders agreement, subscription agreement, lease agreement and administration agreement;
* the relevant Competition authorities unconditionally approving the Transaction or subject to such conditions acceptable to Aveng and Imbali 21;
* within 30 days from signature of the Proposal, Dimopoint to secure funding on commercial terms and conditions acceptable to Aveng and Imbali 21;
* within 30 days from signature of the Proposal, Imbali 21 to secure funding on commercial terms and conditions acceptable to Imbali 21;

Application of the proceeds
The proceeds will be used to improve liquidity, to reduce overall debt, and to take advantage of growth opportunities.

Cautionary announcement
The pro-forma financial effects will be released in due course. Shareholders are therefore advised to exercise caution when dealing in their Aveng securities.

Shareholders are hereby advised that Mr Angus William Band will retire as the Chairman of the board with effect from 30 June 2015. Mr Band will remain on the board as an Independent non-executive director.

Appointment of Mr Mahomed Ismail Seedat as new Independent Non-Executive Chairman of Aveng
The board is delighted to announce that Mr Mahomed Seedat who joined the board in July 2012, as an Independent Non-Executive Director will succeed Mr Band as an Independent Non-Executive Chairman with effect from 1 July 2015. Mr Seedat has been a member of the Safety, Health and Environmental Committee, Remuneration and Nominations Committee and is the Chairman of the Social, Ethics and Transformation Committee.

Changes to the Audit Committee
Mr Peter Ward retires as Chairman of the Audit Committee with effect from 30 June 2015, and Mr Eric Diack will be appointed as Chairman of the Audit Committee with effect from 1 July 2015. Mr Ward will remain as a member of the Audit Committee.

Revenue decreased by 14% to R23.9 billion against the comparative period's R27.7 billion primarily as a result of:
* completion of multi-year major mining and infrastructure-related contracts within the Construction and Engineering: Australasia and Asia segment; and
* non-renewal of three gold-mining contracts at Aveng Moolmans.

The decrease in revenue was marginally offset by the weaker rand to Australian dollar exchange rate, which contributed R602 million (2013: R1.6 billion) to rand revenue from the Construction and Engineering: Australasia and Asia operating segment.

Net operating earnings decreased by 19% to R413 million (2013: R510 million), while the earnings margin decreased slightly to 1.7% (2013: 1.8%). This result was characterised by:
* further losses on the Mokolo Crocodile Pipeline contract (“Mokolo”) as a result of difficulties in returning to higher productivities following severe flood damage, causing an extended close-out of the contract; as well as increased costs and penalties associated with remedial action to address operational difficulties relating to a water purification contract;
* unforseen losses on the Grootegeluk Cyclic Pond contract due to weather delays and scope changes;
* an 18% decline in the Mining segment's earnings due to the non-renewal of three gold-mining contracts in the open-cut business and lower-than-anticipated productivity levels in the shaft-sinking unit;
* a tough steel sector culminating in a weak result from Aveng Steel, being largely responsible for the 51% reduction in the Manufacturing and Processing segment's earnings. This was driven by labour disruptions, reduced margins due to weak demand and increased price competition, and restructuring costs to re-align the fixed cost base; and
* in mitigation of the above:
** solid results from Aveng Manufacturing due to strong demand for rail and related services in sub-Saharan Africa; and
** fair value gains of R94 million included in other earnings - representing gains on infrastructure investments reaching a marketable maturity level allowing for their reclassification as financial assets held at fair value, and gains on investment properties.

Earnings from equity-accounted investments of R30 million was down by R14 million against the comparative period due to losses incurred on McConnell Dowell's Middle East investments, as well as certain investments being reclassified as infrastructure investments (held at fair value), effective from 1 July 2014. McConnell Dowell disposed of its shares in Electrix on 31 October 2014 for R1,3 billion. The profit on the sale of this subsidiary (treated as a disposal group and not a discontinued operation) amounted to R777 million before taxation. The Group recognised the impairment charges described below following a review of current business performance, a consideration of the prevailing market conditions, the resultant pressure on the relevant order books, and the Group"s view of the subdued economic conditions in the nearer term.

Goodwill of R291 million and intangible assets of R33 million associated with the Built Environs business in the Construction and Engineering: Australasia and Asia segment was fully impaired. While management have implemented a robust turnaround plan for this business, there is uncertainty around the business' ability to generate the required returns within a reasonable timeframe based on the current order book. The timing of this impairment is aligned to the Group's renewed focus on the return on assets within the direct control of management, as opposed to legacy intangible assets. An impairment charge totalling R213 million was recognised against ancillary operations, comprising plant and equipment in the Construction and Engineering: South Africa and rest of Africa (R152 million charge), Manufacturing and Processing (R32 million charge) and Mining (R29 million charge) segments.

Net bank and related finance charges of R50 million were in line with the comparative period. Transaction costs of R57 million were above that of the comparative period (R30 million) in order to maintain access to previously arranged loan facilities in South Africa and Australia in support of the Group's liquidity position. The net convertible bonds interest expense - including the accretion of interest at the effective interest rate for the share redemption amount - equalled to R59 million. This charge was reduced by a R36 million fair value gain on the carrying amount of the equity option embedded in the convertible bonds. Following shareholder approval (on 19 September 2014) to equity settle the bonds, the option was reclassified to equity and will no longer be fair valued.

The taxation expense increased to R125 million, with an effective tax rate of 25,7% from R114 million (26,7%) in the comparative period. Headline earnings decreased by 55%. Items excluded from the calculation of headline earnings include the profit on sale of Electrix, impairment charges and fair value gains on investment property. Earnings per share (“EPS”) of 89.3 cents (2013: 83.9 cents) increased by 6% and headline earnings per share (“HEPS”) of 34.5 cents (2013: 82.1 cents) decreased by 58%. The per share amounts were reduced as a result of the impact of dilution caused by the issuing of shares to conclude the Group's BEE transaction on 30 June 2014.

Outlook and prospects
It is expected that the outlook for the Group will be influenced by:
* order book replenishment by McConnell Dowell;
* the anticipation of an improved performance from Aveng Grinaker-LTA;
* generally positive prospects for the Mining and Manufacturing and Processing segments; and
* the realisation of benefits from the cost-saving initiatives already undertaken.

QCLNG and GCRT commercial negotiations remain protracted processes, thus their final outcome continues to be a material risk to the Group. The process of disposing of the majority of the Group's property portfolio in South Africa is well advanced. The transaction is expected to be finalised in the second half of the financial year.

AEG 201502160024A
Disclosure of Beneficial Interest in Securities

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


Disclosure of Beneficial Interest in Securities


In accordance with Section 122 (3) (b) of the Companies
Act 71 of 2008 (“the Act”) and Para 3.83 (b) of the JSE
Limited Listings Requirements, shareholders are hereby
advised that Aveng has received formal notification on
Friday, 13 February 2015, that Investec Asset Management
Holdings (Pty) Ltd on behalf of various segregated
clients has, in aggregate, acquired an interest in the
ordinary shares of Aveng, such that the total interest in
the ordinary shares of Aveng held by its segregated
clients now amounts to 5.5096% of the total issued
ordinary shares of Aveng.


Jet Park

16 February 2015


Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 16/02/2015 12:35:00 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.

Further to the general trading statement released on SENS on 11 December 2014 the Aveng Board of Directors wish to provide specific guidance on the range of the expected decrease in headline earnings per share (“HEPS”) ahead of the release of its interim results for the period ending 31 December 2014, in terms of paragraph 3.4 (b) of the JSE Listings Requirements.

Aveng Shareholders are advised that in respect of the unaudited financial results for the six months ended 31 December 2014, the Group anticipates HEPS to decline by between 55% and 60% to between 32.8 and 36.9 cents per share in relation to the comparative period's HEPS of 82.1 cents per share.

The above information has not been reviewed or reported on by the Aveng Group's auditors. The Group's interim results for the six months ended 31 December 2014 will be released on SENS on 17 February 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 18 February 2015. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

Bondholders of the Aveng Senior Unsecured Convertible Registered Bonds (“Convertible Bond”) were advised that, in accordance with the terms and conditions of the Convertible Bond, interest is payable semi-annually in arrear on 24 January and 24 July of each year (each such day an interest payment date), at a rate per annum equal to 7.25%, commencing with the interest payment date falling on 24 January 2015.

Accordingly, the interest payable on the Convertible Bond is due for payment on 26 January 2015 (given 24 January 2015 being a non-business day). The Convertible Bond will commence trading ex-interest, with respect to the interest coupon period starting 23 July 2014 (inclusive) and ending on 24 January 2015 (exclusive) (“Coupon Period”), from the close of trade on Friday, 16 January 2015 until the close of trade on Friday, 23 January 2015. The interest amount to be paid on Monday 26 January 2015 will be R367.47 for each ZAR10 000.00 of the principal amount for the Coupon Period.

The next interest coupon period will commence on 24 January 2015 (inclusive) and will end on 24 July 2015 (exclusive).

The salient dates relating to this first interest payment are as follows:
* Last date to trade in order to participate in this interest payment : Friday, 16 January 2015
* Ex date : Monday, 19 January 2015
* Record date : Friday, 23 January 2015
* Payment date : Monday, 26 January 2015

Trading Statement and Witdrawal of Cautionary

Trading Statement
Aveng shareholders are advised that in respect of the unaudited financial results for the six months ended 31 December 2014, the Group anticipates headline earnings and headline earnings per share (“HEPS”) to decline by at least 45% in relation to the comparative period's R307 million and 82.1 cents per share respectively. This translates to headline earnings and HEPS of at most R169 million and 45.2 cents per share respectively. Further guidance will be provided to shareholders once the Group is in a position to determine the range of the expected decrease in headline earnings and HEPS ahead of the release of its interim results for the period ending 31 December 2014.

Headline earnings and HEPS excludes the profit on the sale of Electrix (treated as a disposal group and not a discontinued operation) of an anticipated R713 million after taxation, resulting in a net cash inflow of R1,4 billion. The withdrawal of the cautionary announcement pertaining to the sale of Electrix is described further below.

Financial performance
As reported to shareholders in the business update of 4 November 2014, the challenging economic conditions in the Group's key markets, steel sector labour disruptions and the extended impact of legacy contracts in South Africa are expected to adversely impact the operating earnings for the period ended 31 December 2014.

Most notably, the legacy contracts affecting the performance of the Construction and Engineering – South Africa and rest of Africa segment are:
*Mokolo Crocodile Pipeline contract: Higher than anticipated costs associated with lower productivity resulting in an extended close-out of the contract. This was not anticipated after the earlier weather-related damages. The construction activity is largely complete and commissioning has commenced, with hand-over to the client scheduled for February 2015; and
*Water purification contract: Increased cost and penalties associated with remedial action to address the under- performance of a Water asset.

As anticipated, headline earnings is also expected to be negatively affected by a substantially higher net finance expense due to the lower net cash position, increased commitment fees in support of the Group's liquidity position and a higher effective interest rate applied to the convertible bond.

Notwithstanding the above challenges, McConnell Dowell, Aveng Moolmans and Aveng Manufacturing are performing within expectations.
The order book update and the large commercial claims position remains unchanged from the report to shareholders in the business update of 4 November 2014.

Withdrawal of cautionary announcement
Further to the cautionary announcement on 19 September 2014, Aveng hereby provides the relevant financial effects of the Group's disposal of its wholly owned Electrix business to VINCI Energies through a share sales transaction. The net assets of the Electrix business at 30 June 2014 amounted to R398 million, and the business contributed R115 million to the after-taxation profit of the Group for the 12 months then ended. As noted above, the Group expects to realise a profit on disposal of R713 million after taxation.

Shareholders are advised that they no longer need to exercise caution in their dealings in Aveng shares.

The above information has not been reviewed or reported on by the Aveng Group's auditors. The Group's interim results for the six months ended 31 December 2014 will be released on SENS on 17 February 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 18 February 2015. The presentation will be available for all stakeholders on the Group's website, www.aveng.co.za.

Business update
In line with the general economic conditions experienced in the Group"s key markets of South Africa and Australia, Aveng continues to experience difficult trading conditions. In a continuation of the trends evidenced in the preceding financial year, the South African market continues to be challenging due to the low levels of infrastructure-related spend, the impact of lower mining activities and labour disruptions. Trading conditions in Australia remain difficult with the general social and infrastructure-related projects not yet compensating for the reduced mining infrastructure spend. Despite these market challenges, the Mining and Manufacturing businesses yet again delivered solid performances, whilst the execution of the recovery and stabilisation plan continued to progress well.

Construction and Engineering - Australasia and Asia: The completion of multi-year major mining and infrastructure contracts will result in, as anticipated, lower revenue for the Australian business. However, McConnell Dowell is pursuing opportunities in the general infrastructure environment, most notably rail, roads, pipeline and oil and gas opportunities. South-East Asia and New Zealand continue to perform well. As previously reported, McConnell Dowell continues to close-out the remedial work and undertake demobilisation actions associated with the Gold Coast Rapid Transit ("Gold Coast") contract. The process to finalise and resolve claims with the affected counterparties has been intensified. The arbitration process for the Queensland Curtis Liquid Natural Gas ("QCLNG") contract is progressing in line with the agreed timelines with no material change in the status thereof.

It is expected that the commercial negotiations will be protracted, and thus the final outcome remains an uncertain and material risk to the Group.
Construction and Engineering - South Africa and rest of Africa: This segment remains constrained due to the lack of investment in infrastructure. Whilst the recovery and stabilisation process within Aveng Grinaker-LTA is progressing, the pace thereof is slower than planned. The completion of legacy contracts continues to negatively impact current performance. Good progress is being made on the Nacala Rail Link, the Mall of the South and the Sasol Corporate Head Office contracts. Given the soft trading conditions, it is pleasing to note that Aveng Grinaker-LTA was able to increase its order book by 15% from 30 June 2014 to 30 September 2014.

Mining: The mining business continues to deliver good results considering the general downturn in the mining and commodity sector, assisted by efficiency initiatives to sustain operating margins. Aveng Moolmans contracts' have generally performed well, with the Nkomati Nickel Mine contract commencing operations in the first quarter of the financial year. The Chuquicamata Copper Mine in Chile continues to receive attention at the highest level to resolve operational issues, and settle outstanding claims.

Manufacturing and Processing: Aveng Manufacturing is performing well due to strong demand for concrete products, rail construction and maintenance services in Southern Africa. This operating group will continue to benefit from increased rail opportunities across Southern Africa. Aveng Steel was negatively impacted by the steel sector labour disruptions and challenging market conditions, with no improvement in demand or prices expected to materialise in the financial year.

The recovery and stabilisation plan implemented by the Board during the previous financial year is progressing, most notably relating to actions to restore liquidity. The repayment of advance payments associated with the QCLNG contract, the completion activities on the Gold Coast contract, the second payment to the Competition Commission in terms of the administrative levy settlement and working capital requirements associated with major contracts continue to affect cash flow.

In line with the Board"s plan to improve liquidity over the short term, the Group has implemented the following:
*Successfully placed a R2 billion senior unsecured convertible bond, listed on the Johannesburg Stock Exchange ("JSE"). Authority was granted at the General Meeting on 19 September 2014 to equity-settle the bond conversion.
*Following the announcement on 19 September 2014, the sale and resulting receipt of the associated consideration of Electrix has further strengthened Aveng's liquidity position by approximately R1,4 billion.
*The process of disposing of the majority of the Group's property portfolio in South Africa is well advanced. The transaction is expected to be finalised in the second half of the financial year following the required regulatory approvals

The above actions will enable Aveng to concurrently pursue contract claims to a positive conclusion whilst taking advantage of growth opportunities and combined with current facilities, will assist in securing the liquidity of the Group.

Order book: the Group"s two year order book (excluding Electrix) decreased by 2% from R37,2 billion (R40,9 billion including Electrix) at 30 June 2014, to R36,5 billion (excluding Electrix) at 30 September 2014. The Construction and Engineering: Australasia and Asia operating segment's order book decreased by 9% in Australian dollar terms from AUD2,0 billion (excluding Electrix) to AUD1,8 billion. Construction and Engineering: South Africa and rest of Africa's order book increased by 13% from June 2014 to R8,3 billion. The Mining order book increased by 13% to R9,7 billion with South Africa gaining significantly relative to non-South African operations.

Integrated report
The Group issued its 2014 Annual Integrated Report to stakeholders on 22 September 2014. The consolidated annual financial statements and Integrated Report have been published on the Group website, www.aveng.co.za.

Reporting
The interim results for the six months to 31 December 2014 will be released on SENS on 17 February 2015 when the Group will be updating the market on its business in a presentation in Johannesburg on the same day, and in Cape Town on 18 February 2014.

The presentation will be available for all stakeholders on the Group"s website, www.aveng.co.za

Shareholders are advised that at the annual general meeting held on 4 November 2014, the requisite majority of shareholders approved all the ordinary and special resolutions, as set out in the notice of annual general meeting forming part of the Aveng 2014 Integrated Report. There were 416 670 931 ordinary shares in issue as at the date of the annual general meeting.

Change of registered office and Aveng Croup Corporate office
Shareholders are hereby notified of the relocation of Aveng Group Corporate office with effect from Monday, 17 November 2014. The details of the new business and registered address will be as follows:
Aveng Park
1 Jurgens Street
Jet Park
Boksburg
1459

The postal address remains the same as:
PO Box 6062
Rivonia
2128

AEG 201409300036A
Dealing in securities by a director

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")


DEALING IN SECURITIES BY A DIRECTOR


In compliance with Section 3.63 of the JSE Listings
Requirements, the following information is disclosed:


Director : Angus Band
Company : Aveng Limited
Date of transaction : 26 September 2014
Nature of transaction : on-market purchase of shares
Number of securities : 20 000
Class of Securities : Ordinary shares
Purchase price : R22.6598 per share
Total value of transaction : R453 196
Nature of interest : Direct beneficial


The necessary clearance in terms of paragraph 3.66 of the JSE
Listings Requirements has been obtained.




Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd


30 September 2014

Date: 30/09/2014 11:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ("JSE").
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