ECSPONENT ANNOUNCES SIGNIFICANT DEBT REDUCTION AND RECAPITALISATION PROGRESS AT ITS SIGNIFICANT INVESTMENT, MYBUCKS

PRESS RELEASE 26 June 2020 ECSPONENT ANNOUNCES SIGNIFICANT DEBT REDUCTION AND RECAPITALISATION PROGRESS AT ITS SIGNIFICANT INVESTMENT, MYBUCKS; SALE OF ITS INVESTMENT IN MHMK CAPITAL AT A PRICE THAT EXCEEDS ITS TARGET IRR OF 30% AND SIGNALS THE FIRST TRIGGER EVENT WHICH WILL SEE HYBRID PREFERENCE SHAREHOLDERS BEING PAID BACK PART OF THEIR INVESTMENT •…

Ecsponent Appoints Shareholder Representative to the Board

PRESS RELEASE 05 June 2020 ECSPONENT APPOINTMENTS SHAREHOLDER REPRESENTATIVE TO THE BOARD; KEY BOARD DIRECTORS TO ASSUME MANAGEMENT ROLES AND DEVELOP UNDERLYING PORTFOLIO 5 June 2020, Pretoria. Over the past number of weeks, Ecsponent Limited’s new management team has engaged extensively with all classes of shareholders. During these interactions, the need for shareholder representation on…

Ecsponent Limited Successfully Restructures Balance Sheet

Press release 27 May 2020 ECSPONENT LIMITED SUCCESSFULLY RESTRUCTURES BALANCE SHEET – R1.8bn debt converted to ordinary equity, greatly improving solvency and liquidity – R0.5bn debt converted to hybrid preference shares which will also qualify as equity under IFRS – Following extensive engagement and consultation with preference shareholders: – Company to be renamed and rebranded…

Update on preference shares position and R200 million debt to equity conversion

PRESS RELEASE ECSPONENT ANNOUNCES INDICATIVE AMENDMENTS TO PREFERENCE SHARE TERMS TO AVOID COMPULSORY CONVERSION TO ORDINARY SHARES R200 MILLION RECAPITALISATION NEGOTIATIONS UNDERWAY TO REDUCE BALANCE SHEET DEBT BY 30% 03 March 2020. Pretoria. JSE-listed Africa financial services group Ecsponent Limited (“Ecsponent” or “the Company” or “the Group”) announced further details on its undertaking to explore…

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Hindsight is 2020

Can we agree that 2019 was not an easy year for anyone? As we head into the new year, with the possibility of continued load-shedding looming over our work and home lives, it is wise to remember that effective planning for electricity outages is like planning for retirement: we have to accept that difficult times…