To view the latest communication regarding Ecsponent Limited Preference Shares

Email Communication: 11 February 2020

Dear Client of Ecsponent Financial Services,

We have just been informed by one of the product providers that they will be entering a capital restructuring phase.

Products affected will be all listed preference share products as it is no longer deemed fit for funding purposes. The product provider has confirmed that they will be investigating alternative funding opportunities. Options are currently being investigated amongst others to convert listed preference shares to ordinary shares. For more information, please follow the link below to the full Sens announcement:

Click here

Going forward, the product provider Ecsponent Limited, will not be paying any monthly income or redeeming any of these products. Ecsponent Financial Services is in constant communication with the product provider of these products and will provide feedback as soon as we have more information.

Further we confirm that none of the following products have been effected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient or Discovery.

Information will be provided as it becomes available.

Clients can contact our offices at 087 808 0100.

Regards,

Ecsponent Financial Services

Email Communication: 12 February 2020

 

Important Notice for Ecsponent Limited Preference Share Holders

Dear client,

EFS hereby informs you that one of its product providers, Ecsponent Limited, have implemented measures that will adversely affect their ability to pay dividends and redemptions on preference shares from March 2020. This will temporarily affect income for holders of Ecsponent Limited preference share products while the company considers the conversion of preference shares to alternative investment products or ordinary shares in Ecsponent Limited.

EFS will continue to communicate with all clients that have an open position of preference share as more information becomes available, but emphasise that Ecsponent Limited will make every effort to avoid loss of value in client portfolios.

Options which are being considered to preserve investment values and align the returns and capital redemption profiles to the expected returns to be generated from the current asset base during Ecsponent Limited’s capital restructuring, include an amendment to the terms and conditions of the current classes of preference shares in issue, (“Terms Amendment”); or, alternatively

a conditional general offer to its current preference shareholders for an exchange of their preference shares currently held, in exchange for the proposed new classes of preference shares.

Ecsponent Limited is still exploring the various options, so affected investors are advised that this announcement should not be construed as a firm intention to make a general offer.  EFS will provide ongoing feedback as information becomes available.

EFS can confirm that none of the following products have been affected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Clients can contact EFS’s offices at 087 808 0100 at any time to obtain further information or clarification.

Belangrike kennisgewing aan Ecsponent Beperk voorkeuraandeelhouers

 

Geagte klient,

EFS stel u hiermee in kennis dat een van sy produkverskaffers, Ecsponent Beperk, maatreëls in werking gestel het, wat hulle vermoë om dividende en aflossings van voorkeuraandele in Maart 2020, nadelig beinvloed. Dit sal inkomste vir houers van Ecsponent Beperk voorkeuraandele tydelik affekteer terwyl die Maatskappy die oorskakeling van voorkeuraandele na alternatiewe produkte of gewone aandele oorweeg.

EFS sal volhou met kommunikasie aan alle houers van voorkeuraandele soos inligting beskikbaar raak, en wil beklemtoon dat Ecsponent Beperk alles in hulle vermoë doen om verlies in waarde te beperk van kliënte se portefeuljes.

Opsies onder oorweging om beleggingswaarde te behou gedurende Ecsponent Beperk se herstruktureringsproses, is om opbrengste en kapitaalaflossingsproefiele in lyn te bring met die werklike verwagte opbrengste wat die huidige bates kan genereer, en sluit die volgende in:

‘n aanpassing aan die bepalings en voorwaardes van die huidige klasse van voorkeuraandele wat uitgereik is, of alternatiewelik,
‘n voorwaardelike algemene aanbod aan hul huidige houers van voorkeuraandele vir die omruil van hulle voorkeuraandele in besit, vir die voorgestelde nuwe klasse voorkeuraandele. Ecsponent Beperk ondersoek steeds verdere opsies, so ons adviseer beleggers wat hierdeur geraak word, dat hierdie aankondiging nie gesien moet word as ‘n vaste voorneme om so ‘n aanbod te maak nie. EFS sal voortdurend terugvoer gee soos nuwe inligting beskikbaar raak.

EFS bevestig dat die volgende produkte nie geraak word nie: Ecsponent Effekte Program, Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Skakel gerus ons EFS kantore by 087 808 0100 vir meer inligting.

Ecsponent Finansiële Dienste

Email Communication: 13 February 2020

 

Ecsponent Limited Capital Restructuring Process

 

Dear client,

EFS would like to reassure all clients with an open preference share position with the product provider, Ecsponent Limited, that we are in constant communication with the product provider.

We are determined to maintain a position of openness and transparency regarding the processes going forward and the Ecsponent Limited capital restructure. EFS is committed to act in the best interests of clients and to ensure constant and clear communication as and when information is made available, especially with regard to the recapitalisation options which will be presented to clients.

We would like to reassure our clients that all our other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Clients are welcome to contact Ecsponent Financial Services at 087 808 0100.

Ecsponent Beperk Kapitaal Herstruktureringsproses

Geagte kliënt,

EFS wil graag all houers van voorkeuraandele van die produk verskaffer, Ecsponent Beperk, verseker dat ons daagliks in verbinding is met die produkverskaffer.

Ons is vasbeslote om ons posisie van openheid en deursigtigheid te behou ten opsigte van die proses vorentoe met die herstrukturering van die kapitaal van Ecsponent Beperk.

EFS is verbind daarmee om te alle tye in die beste belang van ons kliënte op te tree en te versker dat ons met konstante en duidelike kommunikasie die nuutste inligting oordra, veral ten opsigte van die opsies wat aan die kliënte gebied sal word.

Ons wil u graag die verskering gee dat al ons ander beleggingsprodukte nie deur hierdie aksie geraak word nie, naamlik Ecsponent Effekte Program, Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Kliënte kan ons gerus kontak by 087 808 0100

Email Communication: 14 February 2020

 

Follow Up Information To Ecsponent Limited Preference Shareholders

 

Dear Client,

Since the announcement by Ecsponent Limited this week, we have been engaging with the management of Ecsponent Limited in order to ensure that the integrity of the investment products in our portfolio remains as strong as ever, and that all investors are not prejudiced in any way.

In short what does this mean to you the preference shareholder:

  • It will affect dividend income for holders of Ecsponent Limited preference share and the March 2020 redemptions, while Ecsponent Limited considers the conversion of preference shares to alternative investment products or ordinary shares in Ecsponent Limited.

EFS will continue to communicate with all clients that have an open position of preference share as more information becomes available,The two options which are being considered by Ecsponent Limited include:

  • an amendment to the terms and conditions of the current classes of preference shares in issue, where the returns and capital redemption profiles are more aligned to the returns expected to be generated from the current asset base of the Company and its investments; or alternatively
  • a conditional general offer to its current preference shareholders for an exchange of their preference shares currently held, in exchange for the proposed new classes of preference shares.

Ecsponent Limited is still exploring the various options. Please be advised that this announcement should not be construed as a firm intention to make a general offer. EFS will provide ongoing feedback as information becomes available from the product provider.

We would like to reassure you, that our commitment is to our investors and to act in accordance with your interests. We will continue to update you on all and any information that becomes available.

Clients can contact EFS’s offices at 087 808 0100 to obtain further information or clarification.

Kind regards
Ecsponent Financial Services

Opvolginligting aan houers van Ecsponent Limited voorkeurandele

 

Geagte Kliënt,

Sedert Ecsponent Limited se aankondiging vroeër die week, is ons gereeld in verbinding met die topbestuur van Ecsponent Limited om te versker dat die integriteit van ons beleggingsprodukte so sterk is soos altyd en dat beleggers nie bevooroordeel sal wees nie.

Wat beteken dit vir u, die houer van die voorkeuraandele:

  • Dit affekteer dividendinkomste vir houers van Ecsponent Limited voorkeuraandele en die Maart 2020 aflossings word uitgestel. Ecsponent Limited oorweeg die omskakeling van voorkeuraandele na alternatiewe beleggingsprodukte of gewone aandele in Ecsponent Limited.

EFS sal voortdurend kommunikeer met voorkeuraandeelhouers soos wat meer inligting beskikbaar raak.

Die twee opsies wat tans deur Ecsponent Limited oorweeg word, sluit in:

  • ‘ n aanpassing aan die bepalings en voorwaardes van die huidige klasse van voorkeuraandele wat uitgereik is, waar die aflossings en kapitaal uitkeerprofiele meer in lyn is met die verwagte opbrengste wat gegenereer sal word van die huidige bates van die produkverskaffer en sy beleggings of alternatiewelik,
  • ‘n voorwaardelike algemene aanbod van die huidige houers van voorkeuraandele om dit uit te ruil vir die voorgestelde nuwe klasse van voorkeuraandele.

Die verskillende opsies word nog deur Ecsponent Limited oorweeg. Hierdie moet nie beskou word as ‘n gewaarborgde, algemene aanbod nie.

EFS sal u op hoogte hou met nuwe inligting vanaf die produkverskaffer.

Ons wil u versker dat ons ten alle tye in die beste belang van die beleggers sal optree.

Skakel gerus EFS se kantore by 087 808 0100 vir meer inligting.

Email Communication: 15 February 2020

 

Communication To Preference Share Clients

 

Dear Client,

Since the announcement by Ecsponent Limited last week, EFS has been engaging with Ecsponent Limited on a daily basis.Ecsponent Limited has confirmed that they will be issuing an updated letter to all preference shareholders within the next few days.

EFS will continue to communicate with all clients that have an open position of preference share as more information becomes available.

For any further questions, please contact us on 087 808 0100

Kommunikasie Aan Voorkeuraandeel Kliënte

 

Geagte Kliënt,

Sedert die aankondiging deur Ecsponent Limited verlede week, was EFS op ‘n daaglikse basis in kontak met Ecsponent Limited.

Ecsponent Limited het bevestig dat hulle binne die volgende paar dae ‘n brief met die nuutste inligting aan alle voorkeuraandeelhouers sal uitreik.

EFS sal voortgaan om die nuutste inligting te kommunikeer aan alle voorkeuraandeelhouers.

Kliënte kan ons kontak by 087 808 0100 vir enige verdere navrae.

Email Communication: 18 February 2020

 

Daily Update – 18 February 2020

 

Dear Client,

Confirmation has been received that Ecsponent Limited will be issuing an updated letter to all preference shareholders within the next couple of days.

EFS has been in regular contact with Ecsponent Limited since the announcement was made by Ecsponent Limited last week.

EFS has undertaken to send regular communication to clients with an open position of preference share as more information becomes available.

EFS wants to reassure our clients that all our other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Clients can contact EFS’s offices at 087 808 0100 if they require further information.

Regards

EFS

Daaglikse Kommunikasie – 18 Februarie 2020

 

Geagte Kliënt,

Bevestiging is ontvang vanaf Ecsponent Limited dat hulle binnekort ‘n brief met die nuutste inligting aan alle voorkeuraandeelhouers sal uitreik.

EFS is op ‘n daaglikse basis in kontak met Ecsponent Limited sedert die aankondiging verlede week deur Ecsponent Limited.

EFS sal voortgaan om die nuutste inligting te kommunikeer aan alle kliënte wat houers van voorkeuraandele is soos die inligting beskikbaar gestel word deur Ecsponent Limited.

EFS wil u graag die verskering gee dat al ons ander beleggingsprodukte nie deur hierdie aksie geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Kliënte kan ons kontak by 087 808 0100 indiendaar verdere navrae is.

Groete,

EFS

Email Communication: 19 February 2020

Letter from Ecsponent Limited – 19 February 2020

Dear Preference Shareholder,

On Tuesday, 11 February 2020 the board of Ecsponent Limited (“the Board”) had to make the difficult decision to announce that it will not be redeeming the preference share obligations due from March 2020 onwards, nor would it be paying dividends on the various classes of shares

We assure you this decision was not taken lightly and was done to ringfence and provide a reasonable time to unlock the value of the underlying portfolio.

What does this mean?

The Board is currently working on a number of possible solutions which will be presented to you once completed. The options being considered include:

  1. Changing the terms and conditions of the current classes of preference shares to match the returns expected to be generated from the current asset base in our portfolio; or
  2. Providing you, as preference shareholders, the opportunity to convert your preference shares into a new class of preference share, the returns profile of which will be structured to match the returns expected to be generated from the current asset base in our portfolio; or
  3. Converting all preference shares into Ecsponent ordinary shares, listed on the Johannesburg Stock Exchange, that currently being the default position for all preference shareholders in the absence of option (i) or (ii) above.

You, as preference shareholders, will be required to vote your approval and/or make a choice on the first two scenarios, should we progress to a firm intention to make a general offer. This letter does not constitute a firm intention offer.

All three scenarios are aimed at redeeming our obligations to you in a prudent and sustainable way over the medium to longer term, as the assets in our portfolio mature.

Why we ringfenced the underlying assets and deferred the redemptions and dividend payments

In 2019 we converted a material amount of business-to-business interest-bearing loans into underlying equity investments. This corporate action has seen our business shift from focussing on both private equity investments and financial services to principally a private 2 equity investment business.

As part of Ecsponent’s strategy to increase its investment base of assets focused on capital growth, the Group has increased its shareholding in several of its investee companies over the past three years.

Given the typical longer-term investment horizon of private equity investments, this has resulted in a mismatch between short-term cash generative assets and longer-term capital growth assets.

Ecsponent continuously monitors its investments and, having considered historic dividend flows and management undertakings from some of our investee companies, the Board made the decision to take control, strengthen management, restructure and recapitalise some of its investments in order to unlock operational inefficiencies and enhance profitability.

These necessary steps changed the nature of our investment in the underlying company from debt to equity, meaning that our investment strategy has changed from diversified financial services to private equity. Private equity investments need more time to mature before fair value can be realised for shareholders.

We left no stone unturned in seeking alternative solutions that would not dilute our various stakeholders’ value, and ultimately had to make the difficult but prudent decision to defer the preference share redemptions and dividend distributions until such time as a sustainable resolution (as described above) can be tabled. The Board also decided to no longer issue preference shares to fund its investments.

We assure you that we are working tirelessly to find the most optimal solution and are keeping in close contact with EFS (Ecsponent Financial Services, an authorised financial services provider) on progress made. Unfortunately working through the financial modelling as well as the regulatory and legal processes takes time – we are very aware of the urgency though and undertake to keep you updated through EFS.

Sincerely,

Board of Directors

Ecsponent Limited

Email Communication: 20 February 2020

INFORMATION FROM ECSPONENT LIMITED – 20 FEBRUARY 2020

Dear Preference Shareholder,

While it is our intention to provide all possible information regarding Ecsponent Limited’s capital restructuring exercise and its effects on preference shares, EFS wants to ensure that our EFS clients fully understand the key procedures and alternatives that will be presented for a shareholder vote in due course.

Ultimately, whichever route the product provider intends to take, what concerns EFS clients are the options that will be presented in terms of what to do with the preference shares held.

The likely options are explained again in shareholder correspondence sent out on 19 February 2020, by Ecsponent Limited, which set out the possible outcomes as follows:

  1. Changing the terms and conditions of the current classes of preference shares to match the returns expected to be generated from the current asset base in our portfolio; or
  2. Providing preference shareholders the opportunity to convert preference shares into a new class of preference share, the returns profile of which will be structured to match the returns expected to be generated from the current asset base in our portfolio; or
  3. Converting all preference shares into Ecsponent ordinary shares, listed on the Johannesburg Stock Exchange, that currently being the default position for all preference shareholders in the absence of option (i) or (ii) above.

Click here to read the letter from Ecsponent Limited to Preference Shareholders, on 19 February 2020.

Preference shareholders will have to vote for approval on and/or make a choice on the first two scenarios, should Ecsponent Limited progress to a firm intention to make a general offer. Please take note that Ecsponent Limited has not yet made a firm intention offer, neither does this correspondence constitute a firm intention offer.

EFS will continue to engage with Ecsponent Limited and share any new information as it becomes available.

EFS wants to reassure our clients that all other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Clients can contact EFS’s offices at 087 808 0100 to obtain further clarification.

Kind regards,

Ecsponent Financial Services

Geagte Voorkeuraandeelhouer,

Dit is EFS se voorneme om alle moontlike inligting te voorsien aangaande Ecsponent Limited se kapitaal herstruktureringsproses en die invloed daarvan op die voorkeuraandele. EFS wil verseker dat kliënte volle begrip het van sleutelprosedures, asook alternatiewe wat binnekort vir stemming aan voorkeuraandeelhouers voorgehou sal word.

Watter roete die produkverskaffer ookal beoog om in te slaan, is dit belangrik vir kliënte om te verstaan wat die verskillende opsies mag wees in terme van die voorkeuraandele in u besit.

In die brief vanaf Ecsponent Limited aan voorkeuraandeelhouers wat op 19 Februarie 2020 uitgereik is, word verskeie moontlike opsies voorgehou:

  1. veranderinge aan die terme en voorwaardes van die verskillende klasse van voorkeuraandele om in lyn te kom met die verwagte opbrengste wat deur die huidige bates gegenereer kan word; of
  2. om aan voorkeuraandeelhouers die geleentheid te bied om voorkeuraandele in hulle besit, om te skakel na ‘n nuwe klas voorkeuraandele waarvan die verwagte opbrengste in lyn is met die verwagte opbrengste van die huidige bates; of
  3. om alle voorkeuraandele om te skakel na gewone aandele wat op die Johannesburgse Aandelebeurs genoteer is; hierdie sal gebeur in die afwesigheid van opsies i) en ii) hierbo

Klik hier om Ecsponent Limited se brief aan voorkeuraandeelhouers, 19 Februarie 2020, te lees.

Indien Ecsponent Limited voortgaan om ‘n uitdruklike aanbod te maak, sal van voorkeuraandeelhouers verwag word om goedkeuring aan te dui deur ‘n stem uit te oefen oor die eerste twee bogenoemde opsies.

EFS is in daaglikse kommunikasie met Ecsponent Limited en sal alle inligting met u deel soos dit beskikbaar raak.

EFS wil hulle kliënte verseker dat ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Ecsponent Financial Services

Email Communication: 21 February 2020

Communication to Preference Share Clients

21 FEBRUARY 2020

While EFS awaits further information from Ecsponent Limited on the options that were sent out in the communication to clients yesterday, 20 February 2020, we will continue to send out regular communication to clients with an open position of preference share, to update clients on all and any information as it becomes available.

Click here to read the letter from Ecsponent Limited to Preference Shareholders, dated 19 February 2020.

EFS wants to reassure our clients that other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Clients can contact EFS’s offices at 087 808 0100 for further clarification.
info@ecsponent.com

Ecsponent Financial Services

Kommunikasie aan Voorkeuraandeelhouers

21 FEBRUARIE 2020

Geagte Kliënt,

EFS wil graag alle houers van voorkeuraandele van die produkverskaffer, Ecsponent Limited, versker dat ons daagliks in verbinding is met die produkverskaffer. EFS sal voortgaan om die nuutste inligting te kommunikeer aan alle kliënte wat houers van voorkeuraandele is, soos die inligting beskikbaar gestel word deur Ecsponent Limited.

Klik hier om Ecsponent Limited se brief aan voorkeuraandeelhouers, 19 Februarie 2020, te lees.

EFS wil u graag die versekering gee dat al die ander beleggingsprodukte nie deur hierdie aksie geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Kliënte kan EFS se kantore kontak by 087 808 0100 vir verdere navrae.
info@ecsponent.com

Ecsponent Financial Services

Email Communication: 24 February 2020

Update from Ecsponent Limited – 24 February 2020

Dear Client

Ecsponent Limited issued two announcements on Friday afternoon on the JSE-Stock Exchange News Service (SENS). These announcements followed-up the announcement made by Ecsponent Limited on 11 February, with regard to the Company’s capital restructuring.

The latest announcements relate to the preference share redemptions and the monthly dividends.

You can read the SENS below:

As outlined in a letter from Ecsponent Limited on 19 February, the Company is currently exploring various options relating to the capital restructuring and/or alternative forms of funding.

The likely scenarios, as outlined in correspondence received, include:

  1. changing the terms and conditions of the current classes of preference shares to match the returns expected to be generated from the current asset base in our portfolio; or
  2. providing you, as preference shareholders, the opportunity to convert your preference shares into a new class of preference share, the returns profile of which will be structured to match the returns expected to be generated from the current asset base in our portfolio; or
  3. converting all preference shares into Ecsponent ordinary shares, listed on the Johannesburg Stock Exchange, that currently being the default position for all preference shareholders in the absence of option (i) or (ii) above.

EFS will provide ongoing feedback as information becomes available from the product provider.

EFS wants to reassure our clients that all other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Kind regards
Ecsponent Financial Services

Inligting ontvang vanaf Ecsponent Limited

24 FEBRUARIE 2020

Geagte Kliënt,

Ecsponent Limited het Vrydagmiddag twee aankondigings uitgereik op die JSE-Stock Exchange News Service (SENS). Hierdie aankondigings is ‘n opvolg op die aankondiging van Ecsponent Limited op 11 Februarie 2020, in verband met die maatskappy se kapitaal herstruktureringsproses.

Hierdie jongste aankondigings hou direk verband met die nie-aflossing van voorkeuraandele asook die nie-betaling van maandlikse dividende.

U kan die SENS lees by die volgende skakels:

Met verwysing na die Ecsponent Limited skrywe van 19 Februarie, ondersoek die Maatskappy verskillende opsies rakende die herstrukturering van kapitaal en/of alternatiewe vorms van befondsing.

Die volgende moontlikhede word ondersoek:

  1. veranderinge aan die terme en voorwaardes van die verskillende klasse van voorkeuraandele om in lyn te kom met die verwagte opbrengste wat deur die huidige bates gegenereer kan word; of
  2. om aan voorkeuraandeelhouers die geleentheid te bied om voorkeuraandele in hulle besit, om te skakel na ‘n nuwe klas voorkeuraandele waarvan die verwagte opbrengste in lyn is met die verwagte opbrengste van die huidige bates; of
  3. om alle voorkeuraandele om te skakel na gewone aandele wat op die Johannesburgse Aandelebeurs genoteer is; hierdie sal gebeur in die afwesigheid van opsies i) en ii) hierbo

Indien Ecsponent Limited voortgaan om ‘n uitdruklike aanbod te maak, sal van voorkeuraandeelhouers verwag word om goedkeuring aan te dui deur ‘n stem uit te oefen oor die eerste twee bogenoemde opsies.

EFS wil ons kliënte verseker dat ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

EFS sal u deurgaans op hoogte hou van enige nuwe inligting van die produkverskaffer.

Ecsponent Financial Services

Email Communication: 25 February 2020

Communication to Preference Share Clients

25 FEBRUARY 2020

Dear Client,

Since the Ecsponent Limited restructuring announcement on 11 February, EFS has been in constant communication with Ecsponent Limited, to provide a steady flow of updates to our valued clients as the information becomes available.

EFS is awaiting further details on the new information and will communicate the information once received from Ecsponent Limited.

EFS wants to reassure our clients that all other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

EFS is committed to provide ongoing feedback as information becomes available from the product provider.

Inligting ontvang vanaf Ecsponent Limited

25 FEBRUARIE 2020

Geagte Kliënt,

Sedert die aankondiging op 11 Februarie oor Ecsponent Limited se kapitaalherstrukturering, is EFS in konstante kommunikasie met Ecsponent Limited, om aan EFS kliënte ‘n gereelde vloei van inligiting beskikbaar te stel soos wat dit ontvang word.

EFS wag vir verdere inligting op die nuutste informasie vanaf Ecsponent Limited en sal hierdie informasie deel sodra dit ontvang is.

EFS wil u weereens verseker dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

EFS sal u deurgaans op hoogte hou van enige nuwe inligting vanaf die produkverskaffer.

Email Communication: 26 February 2020

Communication To Preference Share Clients

26 February 2020

Dear Client,

EFS has been in constant communication with Ecsponent Limited since the restructuring announcement by Ecsponent Limited, to ensure that we have an open line of communication with our valued clients, to share information as it becomes available.

Ecsponent Limited has assured EFS that they are working tirelessly to find the most optimal solution and will keep EFS updated as and when progress is made.

EFS is awaiting further details and will send out communication again on Friday, 28 February 2020.

EFS wants to reassure our clients that all other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Kliënt Kommunikasie – 26 Februarie 2020

26 February 2020

Geagte kliënt,

EFS is in konstante kommunikasie met Ecsponent Limited sedert die aankondiging op 11 Februarie oor EFS se kapitaalherstrukturering, om aan efs kliënte ‘n gereelde vloei van inligiting beskikbaar te stel, soos wat dit ontvang word.

Ecsponent Limited het EFS verseker dat hulle onverpoos werk om die mees geskikte oplossing te vind en sal EFS op hoogte hou van sake, soos wat vordering gemaak word.

EFS wag vir verdere inligting op die nuutste informasie vanaf Ecsponent Limited. EFS sal verdere kommunikasie uitstuur teen Vrydag, 28 Februarie 2020.

EFS wil u weereens verseker dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik ecsponent lewende annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Email Communication: 28 February 2020

Communication To Preference Share Clients

28 February 2020

Dear Client,

While EFS awaits further details and a timeline from Ecsponent Limited on the options available to preference shareholders, EFS wants to re-assure our clients that we will provide you with the most up-to-date information, as it become available.

Ecsponent Limited has assured EFS that they are working tirelessly to find the most optimal solution for preference shareholders and have committed to keep EFS updated as soon as progress has been made.

EFS will send out communication to our clients again on Monday, 2 March 2020.

EFS would like to re-iterate to our clients that all other investment products remain unaffected: Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

Kliënt Kommunikasie – 28 Februarie 2020

28 February 2020

Geagte Kliënt,

Terwyl EFS wag vir verdere inligting vanaf die produkverskaffer, Ecsponent Limited, op die opsies wat beskikbaar sal wees aan voorkeuraandeelhouers, wil EFS die versekering bied dat u op hoogte gehou sal word met die nuutste inligting, soos wat dit beskikbaar gestel word.

Ecsponent Limited het aan EFS die versekering gegee dat hulle onverpoos werk om die mees geskikte oplossing te vind en sal EFS op hoogte van sake hou, soos wat vordering gemaak word.

EFS sal verdere kommunikasie uitstuur aan voorkeuraandeelhouers teen Maandag, 2 Maart 2020.

EFS wil u nadruklik verseker dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Email Communication: 2 March 2020

UPDATE FROM ECSPONENT LIMITED – 2 March 2020

In a SENS announcement issued today, Ecsponent Limited announced further details on its undertaking to explore various options relating to the capital restructure of its preference share programme in order to avoid the compulsory conversion of preference shares to ordinary shares.

Please read the SENS by clicking here.

EFS would like to re-iterate that all other investments, such as the Ecsponent Bond, Ecsponent Living Annuity, Ecsponent Retirement Annuity, umbrella funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery products remain entirely unaffected by the Ecsponent Limited preference share default.

EFS will communicate further details to clients on Wednesday, 4 March 2020.

Clients can contact EFS’s offices at 087 808 0100 if they require more information.

Kliënt Kommunikasie – 2 Maart 2020

2 Maart 2020

Geagte Kliënt,

In ‘n SENS aankondiging wat vandag vrygestel is, het Ecsponent Limited nuwe inligting bekendgemaak in sy onderneming om verdere opsies te ondersoek ten opsigte van die kapitaalherstrukturering van sy voorkeuraandeelprogram, om te voorkom dat voorkeuraandele noodgedwonge omgeskakel word na gewone aandele.

Vir verdere inligting, verwys asb na die SENS
Lees dit hier.

EFS wil u weereens verseker dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Nota Program, Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

EFS sal verdere kommunikasie uitstuur aan voorkeuraandeelhouers teen Woensdag, 4 Maart 2020.

Kliënte kan gerus EFS se kantore kontak vir verdere inligting: 087 808 0100.

Email Communication: 3 March 2020

SPECIAL ANNOUNCEMENT – 3 MARCH 2020

Dear Client,

In the SENS announcement issued on 2 March, Ecsponent Limited announced further details relating to the capital restructure of its preference share programme in order to avoid the compulsory conversion of preference shares to ordinary shares.

The Board of Ecsponent Limited believes that an automatic conversion of these shares to ordinary shares will not serve the interests of most preference shareholders, since this did not originally suit their investment strategy of seeking dividends.

The Ecsponent Board has proposed amendments to the company’s memorandum of incorporation to give preference shareholders the option of converting to ordinary shares at any time before the redemption date of their preference shares, with similar rights to the current automatic conversion. The amendments also provide for alternative options for preference shareholders.

The amendments regarding preference shares include:

  • redeemable or partially redeemable at the discretion of the Board a) having regard to the funds available to the Company, or b) on the exit by the Company of any investments within the Group;
  • convertible into ordinary shares at a fixed ratio at the option of the holder; and
  • zero coupon, but with dividends to be paid at the discretion of the board, guided by a committed dividend policy.

In addition, Ecsponent Limited announced that its largest shareholder, investment company MHMK Group led by Ecsponent’s acting CEO George Manyere, has agreed to recapitalise the company’s balance sheet by reducing its debt by R200 million. By MHMK taking on this debt, Manyere has given the company the chance to present preference shareholders with alternatives beyond simply converting these shares to ordinary shares.

Manyere says this demonstrates Ecsponent Limited’s commitment to offering sustainable alternatives to investors who bought the company’s preference shares expecting certain returns.

The press release containing more information on these amendments can be found on the Ecsponent Limited website by clicking here.

You can read one of the articles in response to the latest SENS announcement here: https://www.moneyweb.co.za/news/companies-and-deals/major-ecsponent-shareholder-to-pump-r200m-into-group/

Further details of the proposed amendments to the Memorandum Of Incorporation will be announced on SENS and will be included in a circular to shareholders, which will be distributed in due course.

 

SPESIALE AANKONDIGING – 3 MAART 2020

Geagte Kliënt,

In ‘n JSE_SENS-aankondinging wat op 2 Maart 2020 uitgereik is, het Ecsponent Limited verdere besonderhede bekendgemaak in verband met die kapitaal-herstruktureringsprogram om die verpligte omskakeling van voorkeuraandele in gewone aandele te verhoed.

Die Raad van Ecsponent Limited glo dat die outomatiese omskakeling van hierdie aandele in gewone aandele nie in die beste belang van voorkeuraandeelhouers sal wees nie, omdat dit nie by hulle oorspronklike strategie van dividendbetalings pas nie.

Die Ecsponent Limited Raad het ook aanpassings aan die Memorandum van Inlywing voorgestel. Hierdie wysigings sal aan voorkeuraandeelhouers die opsie bied om hul aandele om te skakel na gewone aandele te enige tyd voor die aflosdatum met dieselfde regte verstek.

Verdere voorstelle bied ook alternatiewe opsies tot voorkeuraandeelhouers.

Die opsies met betrekking tot voorkeuraandele sluit in:

  • aflosbaar of gedeeltelik aflosbaar onderhewig aan die diskressie van die Raad a) onderhewig aan beskikbare kapitale reserwes of b) tydens te gelde making van sekere bates in die Groep;
  • omskakelbaar na gewone aandele teen ‘n vaste formule as opsie vir die houer; en
  • Zerokoepon-lening waar die koers deur die Raad bepaal word en waar ‘n gespesifiseerde dividendbeleid deur die Raad voorsien sal word.

Verder het Ecsponent Limited aangekondig, dat hul grootste aandeelhouer, die beleggingsmaatskappy MHMK Groep, gelei deur Ecsponent Limited se waarnemende Hoofuitvoerende Beampte, George Manyere; onderneem om die maatskappy se balansstaat te herkapitaliseer deur skuld te verminder met R200 miljoen. Manyere, deur MHMK, gee hierdeur die Maatskappy die geleentheid om aan sy voorkeuraandeelhouers opsies te bied anders as die blote omskakeling na gewone aandele

Volgens Manyere demonstreer dit Ecsponent Limited se verbintenis om volhoubare alternatiewe aan beleggers te bied wat die voorkeuraandele met sekere opbrengs-verwagtinge gekoop het.

Die persverklaring deur Ecsponent Limited kan op die webtuiste gevind word by hierdie bladsy.

Na aanleiding van die SENS aankondiging, is verskeie berigte in die media gepubliseer. ‘n Opsommende berig is beskikbaar vir u gerief by: https://www.moneyweb.co.za/news/companies-and-deals/major-ecsponent-shareholder-to-pump-r200m-into-group/

Enige verdere besonderhede oor die voorgestelde aanpassings aan die Memorandum van Inlywing sal op SENS aangekondig word en dit sal ingesluit word by die skrywe gerig aan aandeelhouers. Hierdie dokument sal binnekort uitgereik word.

EFS wil u weereens verseker dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Nota Program, Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

As gevolg van die spesiale aankondiging en hierdie skrywe wat vandag na voorkeuraandeelhouers gestuur word, sal EFS weer op Donderdag, 5 Maart 2020 met voorkeuraandeelhouers kommunikeer.

 

Email Communication: 5 March 2020

SPECIAL ANNOUNCEMENT – 5 MARCH 2020

Dear Client,

EFS awaits further details and a timeline from Ecsponent Limited on the options that will be available to preference shareholders. EFS would like to take this opportunity to re-assure our clients that we will provide the most up-to-date information as it become available from the product provider.

EFS wants to re-iterate that all other investment products remain unaffected: Ecsponent Note Programme, Ecsponent Living Annuity, Ecsponent Retirement Annuity, Ecsponent Umbrella Funds, Sanlam, Glacier, Momentum, 27four, Prescient and Discovery.

The next communication will be sent out as soon as further details have been received from Ecsponent Limited.

 

Kliënt kommunikasie – 5 Maart 2020

Geagte Kliënt,

EFS wag tans vir verdere inligting vanaf die produkverskaffer, Ecsponent Limited, op die opsies wat beskikbaar sal wees aan voorkeuraandeelhouers. EFS wil die versekering bied dat u op hoogte gehou sal word met die nuutste inligting, soos wat dit beskikbaar gestel word vanaf die produkverskaffer.

EFS wil dit benadruk dat alle ander beleggingsprodukte nie hierdeur geraak word nie, naamlik Ecsponent Nota Program, Ecsponent Lewende Annuiteit, Ecsponent Aftree Annuiteit, Ecsponent Sambreelfondse, Sanlam, Glacier, Momentum, 27four, Prescient en Discovery.

Die volgende kommunikasie sal uitgestuur word sodra verdere inligting ontvang is vanaf Ecsponent Limited.

Email Communication: 12 March 2020

COMMUNICATION UPDATE – 12 MARCH 2020

Dear Preference Shareholder,

On Monday this week, Mr George Manyere, the largest shareholder of Ecsponent Limited (the product provider) spoke with renowned journalist, Alec Hogg, unpacking the lead-up to current events and, more importantly, what the company is doing to remedy the situation.

In the interview, Mr Manyere stressed that investors’ money is not lost. He explained that it will take time to rework the portfolio and monetise the investments.

We take comfort in Mr Manyere’s commitment to finding a solution that will allow preferential shareholders to retain their preferential rights against the assets in the portfolio, and not convert to ordinary shares if they don’t wish to do so.

You can listen to the interview here.

In order to avoid the compulsory conversion, the product provider is proposing an amendment to the terms of the Preference Shares, through an amendment to Ecsponent’s Memorandum of Incorporation (MOI Amendments) that will enable preferential shareholders to invest in a different class of preferential share where the returns and capital redemption profile are aligned with the returns expected from the current asset base in the portfolio.

As explained to Alec Hogg in the interview, the objective is to defer payment until such time as the assets can be monetised, before repaying preference shareholders.

Once the new structure has been finalised and regulatory approval from the JSE has been obtained, preference shareholders will receive a circular with all the information around the MOI Amendments to allow them to make an informed choice when approving the amendments.

This circular is subject to JSE requirements and usually involves a three-phase process, the timing of which is outside of the control of the product provider.

Once the circular is issued (Ecsponent Limited will announce this on SENS and through its normal communication channels) there is an approximate 20 working day period to allow you as preference shareholder time to review the document and consult with your financial advisor, before voting for approval at a Special General Meeting.

The circular will contain specific dates on when the Special General Meeting is, when proxy forms have to be handed in, and what the next steps are, once preference shareholders have approved the MOI amendments.

You will be kept abreast of any further updates as and when we receive them.

 

Nuutste kommunikasie – 12 Maart 2020

Geagte Voorkeuraandeelhouer,

Op Maandag, 9 Maart 2020, het Mnr George Manyere, grootste aandeelhouer van Ecsponent Limited (die produkverskaffer) gepraat met die bekende joernalis, Alec Hogg oor die gebeure wat aanleiding gegee het tot die huidige situasie, asook, wat die maatskappy gaan doen om die situasie om te keer.

In die onderhoud het Mnr Manyere dit benadruk dat beleggers se geld nie verlore is nie. Hy het verduidelik dat dit tyd gaan neem om die portefeulje te verwerk en die beleggings te gelde te maak.

Ons kan berus in Mnr Manyere se toewyding om ‘n oplossing te vind wat voorkeuraandeelhouers se voorkeurregte sal behou teenoor die bates in die portefeulje, en nie voorkeuraandele om te skakel na gewone aandele nie.

Luister na die onderhoud hier.

Om ‘n verpligte omskakeling te voorkom, stel die produkverskaffer ‘n aanpassing aan die terme  van die voorkeuraandele voor.  Hierdie aanpassing aan Ecsponent Limited se Memorandum van Inlywing sal aan voorkeuraandeelhouers die opsie gee om in voorkeuraandele te belê in ‘n verskillende klas van voorkeuraandele, waar die terugbetalings- en kapitaal uitkeerprofiel in lyn is met die terugbetalings van die huidige bates in die portefeulje.

Mnr Manyere verduidelik ook in die onderhoud aan Alec Hogg, dat die betalings uitgestel sal word tot dat die bates te gelde gemaak kan word alvorens voorkeuraandeelhouers uitbetaal word.

Wanneer die nuwe struktuur gefinaliseer is, en die JSE se goedkeuring verkry is, sal die

voorkeuraandeelhouers ‘n omsendskrywe ontvang met al die Memorandum aanpassings, sodat hulle ‘n ingeligte besluit kan neem oor die voorgestelde veranderinge.

Die omsendskrywe is onderhewig aan JSE vereistes en behels gewoonlik ‘n drie fase proses, waarvan die tydlyn nie deur Ecsponent Limited beheer kan word nie.

Wanneer die omsendskrywe uitgereik is (op SENS en deur die gewone kommunikasiekanale) is daar ‘n twintig (20) werksdae periode,  vir voorkeuraandeelhouers,  om die inhoud na te gaan en ‘n finansiële adviseur te raadpleeg voordat daar vir goedkeuring gestem sal word op ‘n Spesiale Algemene Vergadering.

Die omsendskrywe sal spesifieke datums bevat naamlik: wanneer die Spesiale Algemene Vergadering sal plaasvind, wanneer volmagvorms ingehandig moet word, en wat die volgende stappe sal wees nadat die voorkeuraandeelhouers die veranderinge goedgekeur het.

U sal op hoogte gehou word van enige verdere verwikkelinge soos wat dit ontvang word.

Email Communication: 19 March 2020

COMMUNICATION UPDATE – 19 MARCH 2020

On 12 March, Ecsponent Limited issued a SENS announcement to provide details of changes to the company’s board and executive structure. As the company sets its new course for growth as a private equity player, Ecsponent Limited has sought to strengthen its board with new appointments with appropriate high-level expertise.

A private equity company’s main purpose is to lend expertise and guidance to underlying businesses in which it invests so that they can grow and become more valuable – as and when the private equity company sells out of the underlying stakes, the intention is to pass on unlocked value to shareholders.

The appointment of Roger Pitt, a highly regarded independent non-executive director, to the board of Ecsponent Limited bolsters the company’s credentials in corporate finance and strengthens the blend of skills and experience which will ensure the company meets its targets.

Roger is a qualified Chartered Accountant (SA) with a B.Com Accounting degree from the University of Johannesburg. After completing his articles, he moved into corporate finance, where he gained broad experience in the full scope of corporate actions and also attended board and audit committee meetings of Main Board and AltX listed clients in order to advise them on statutory and regulatory requirements.

He also serves on Cognition Holdings Ltd, Merchantec (Pty) Ltd, ISA Holdings Ltd and FedGroup’s boards as an independent, non-executive director.

His appointment to the Ecsponent Limited Board is effective as of 9 March 2020.

In other changes to the Ecsponent Limited board and its committees, to strengthen oversight and strategic direction, acting CEO George Manyere will assume the role of executive chairman of the company from 31 March, and Keith Rayner will step into the role of lead independent non-executive director from the same date.

Keith serves on the boards of several JSE-listed companies, including Sibanye-Stillwater and Telkom.

As outlined in the letter last week, preference shareholders will receive a circular with all the information around the MOI Amendments to allow them to make an informed choice when approving the amendments.

This circular is subject to JSE requirements and usually involves a three-phase process, the timing of which is outside of the control of the product provider. Once the circular is issued, there is an approximate 20 working day period to allow preference shareholders time to review the document and consult with their financial advisors, before voting for approval at a Special General Meeting.

We will keep you abreast of any further updates as and when we receive them.

 

Nuutste kommunikasie – 19 Maart 2020

Geagte Voorkeuraandeelhouer,

Ecsponent Limited het op 12 Maart 2020 in ‘n SENS aankondiging, besonderhede bekendgemaak van veranderinge aan die Raad en Uitvoerende Bestuur. Die Maatskappy se nuwe strategie is een van groei as ‘n speler in privaat ekwiteit en om dit te bevestig, het hulle dit goed gedink om die Raad te versterk met nuwe aanstellings wat oor hierdie toepaslike, hoërvlak kundigheid beskik.

Die primêre fokus van ‘n privaat ekwiteitsmaatskappy, is om kundigheid en leiding te bied aan die onderliggende maatskappye waarin hulle belê, sodat dit kan groei en waarde toevoeg. Die doel hiervan is om waarde vir die aandeelhouers te ontsluit wanneer die bates verkoop word.

Die aanstelling van Roger Pitt, ‘n gesiene onafhanklike nie-uitvoerende direkteur op die Raad van Ecsponent Limited, onderskryf die hoë standaard van Korporatiewe Finansies en versterk die vaardighede en ondervinding wat nodig is om hierdie doelwitte te bereik.

Roger is ‘n gekwalifiseerde geoktroieerde rekenmeester (SA) met ‘n BCom graad in Rekeningkunde (Universiteit van Johannesburg). Na die voltooiing van sy klerkskap het hy in korporatiewe finansies gespesialiseer, waar hy ‘n wye spektrum van ondervinding in korporatiewe aksies opgedoen het. Hy het ook Raads- sowel as ouditkomittee vergarderings bygewoon vir maatskappye wat gelys is op die Hoofbeurs en op die AltX en hierdie kliënte geadviseer oor statutere en regulatoriese belange.

Hy dien ook op Cognition Holdings Ltd, Merchantec (Pty) Ltd, ISA Holdings Ltd en FedGroup se Rade as onafhanklike, nie-uitvoerende direkteur.

Sy aanstelling tot die Ecsponent Limited Raad is effektief vanaf 9 Maart 2020.

Om oorsig en strategiese rigtinggewing te versterk, is die volgende veranderinge aan die Ecsponent Raad en sy komittees aangebring:

  • die waarnemende hoof uitvoerende beampte, George Manyere, sal vanaf 31 Maart uitvoerende voorsitter van die Maatskappy word,
  • terwyl Keith Rayner die rol van hoof onafhanklike nie-uitvoerende direkteur oorneem vanaf dieselfde datum.

Keith dien op die Rade van verskeie JSE genoteerde maatskappye, wat insluit Sibanye-Stillwater en Telkom.

Met verwysing na verlede week se skrywe, sal voorkeuraandeelhouers ‘n omsendskrywe ontvang met al die inligting rakende die aanpassings in die Memorandum van Inlywing, sodat hulle ‘n ingeligte besluit kan neem rakende die aanvaarding van enige van hierdie aanpassings.

Die skrywe is onderhewig aan JSE vereistes en bestaan gewoonlik uit ‘n drie-fase proses waaroor die produkverskaffer geen beheer het oor die tydsberekening nie.

Na uitreiking van hierdie skrywe, is daar ongeveer ‘n 20 werksdag-periode waartydens aandeelhouers die dokument kan bestudeer en hulle adviseurs kan raadpleeg voordat stemming sal plaasvind op ‘n Spesiale Algemene Vergadering.

Ons sal u op hoogte hou van nuwe inligting soos wat dit ontvang word.

Email Communication: 2 April 2020

Dear Preference Shareholder,

In our communication on 19 March, we outlined new appointments to the Ecsponent Limited Board, which are intended to increase the strength of skills and experience represented on the Board as the company positions itself for its next phase of growth.

The company has made a further appointment to its Board and as of 1 April 2020, Craig Lyons will take up the role of Non-Executive Director and Chairman of the Board. An accomplished and experienced investment banker and businessman, Craig serves on the Boards of several South African and multinational companies across various sectors, providing independent business analysis, financial acumen and strategic guidance.

He is the co-founder of two South African investment banks, and his past senior roles include tenures at Hollard Insurance Company, Standard Corporate, Merchant Bank and Mvelephanda Strategic Investments.

Ecsponent Limited’s majority shareholder, MHMK Group, represented on the Board by George Manyere, who is currently fulfilling the dual roles of Executive Chairman and CEO, will step down as chairman and continue as CEO when Craig takes up the role of Non-Executive Chairman. George will not be drawing a salary from Ecsponent Limited for the duration of Craig’s contract, in order to further support the sustainability of Ecsponent.

Keith Rayner will continue in his role as Lead Independent Director. Tertius de Kock has been appointed as Chief Financial Officer, effective 31 March 2020 and Dirk van der Merwe will move into a supporting role to the Board.

The Board appointments and restructuring are intended to achieve the following as Ecsponent Limited positions itself as a private equity player aiming to generate value for its shareholders through the growth of its underlying assets:

  • Resetting and implementing the company’s organisational vision, mission and core values.
  • Strengthening the company’s Board committees, risk management and governance structures.
  • Ensuring that the Ecsponent Group maintains high standards of social responsibility wherever it does business.

During the lockdown period, the EFS team is working remotely to support you with ongoing information and updates. In addition, the JSE is still operating during the lockdown period but we still expect that there might be a delay in communications.

As outlined before, preference shareholders will receive a circular with all the information around the MOI Amendments to allow them to make an informed choice when approving the amendments. This circular is subject to JSE requirements and involves a three-phase process, the timing of which is outside of the control of the product provider.

Once the circular is issued, there is an approximate 20 working day period to allow preference shareholders time to review the document and consult with their financial advisors, before voting for approval at a Special General Meeting.

Preference shareholders will be informed of further developments in due course

Geagte Voorkeuraandeelhouer,

Kommunikasie gedateer 19 Maart, dui op nuwe aanstellings op die Ecsponent Ltd Raad. Die doel van die aanstellings is om die vaardighede en ervaring van die Raad uit te brei en verder te versterk vir die volgende groeifase.

Die Maatskappy het ‘n verdere aanstelling gemaak en vanaf 1 April 2020 sal Craig Lyons die rol vervul van nie-uitvoerende direkteur en Voorsitter van die Raad. Craig, ‘n ervare en bekende beleggingsbankier en sakeman, dien op die Raad van verskeie Suid Afrikaanse en Internasionale maatskappye in verskillende sektore, wat onafhanklike analises, sowel as finansiele kundigheid en strategiese leiding aan besighede bied.

Hy is die mede-stigter van twee Suid Afrikaanse beleggingsbanke en het hy in die verlede senior rolle vertolk by Hollard Insurance Company, Standard Corporate Merchant Bank en Mvelephanda Strategic Investmments.

Ecsponent se meerderheidsaandeelhouer, die MHMK Group, verteenwoordig deur George Manyere, vervul tans die dubbel-rol as Uitvoerende Voorsitter en Hoof Uitvoerende Beampte. Hy sal voortgaan as Hoof Uitvoerende Beampte, terwyl Craig Lyons die rol van Nie-Uitvoerende Voorsitter sal inneem. George sal geen vergoeding neem van Ecsponent Limited vir die volle termyn van Craig se kontrak nie, om sodoende die volhoubaarheid van Ecsponent te ondersteun.

Keith Rainer bly aan in die rol as Hoof Nie-uitvoerende Direkteur met ingang vanaf 1 April. Tertius de Kock is aangestel as die Hoof Finansiële Beampte, effektief vanaf 31 Maart, en Dirk van der Merwe sal ondersteuning bied aan die Raad.

Die aanstellings en herstrukturering van die Raad het die uitsluitlike doel om Ecsponent Limited te posisioneer as privaat ekwiteit speler, asook om ondergenoemde waarde te ontsluit vir aandeelhouers deur die groei van die onderliggende bates:

  • Die aanpassing en implementering van die Maatskappy se organisatoriese visie en sleutelwaardes.
  • Versterking van die Ecsponent Raad se kommittees, risikobestuur en beheerstukture.
  • Te verseker dat die Ecsponent Groep, waar hul ookal besigheid bedryf, die hoogste standaard handhaaf ten opsigte van hul sosiale verantwoordelikhede.

Gedurende hierdie inperkingsperiode, werk die EFS span voltyds tuis, ten einde u te ondersteun met inligting en die opdaterings van rekords. Die JSE is ook werksaam gedurende hierdie periode, maar ons verwag dat vertragings in kommunikasie mag voorkom.

Soos voorheen uitgewys, sal voorkeuraandeelhouers ‘n omsendskrywe ontvang met al die inligting rondom veranderinge aan die MOI (Memorandum van Inlywing) sodat n ingeligte besluit geneem kan word by die aanvaarding van die aanpassings.

Hierdie omsendskrywe is onderhewig aan die bepalings van die JSE en behels ‘n drie-fase proses waarvan die tydlyn buite die beheer is van die produkverskaffer.

Na die uitreiking van die sekulêr is daar n 20 dag periode om aandeelhouers die geleentheid te gee om die feite na te gaan en met hulle finansiele adviseurs te beraadslag, voor die stemming tot goedkeuring by ‘n Spesiale Algemene Vergadering.

Voorkeuraandeelhouers sal op hoogte gehou word van enige veranderinge met die omkeerstrategie.

Email Communication: 9 April 2020

Dear Preference Shareholder,

During the lockdown period, the product provider, Ecsponent Limited remains in negotiation to prepare alternative options to be presented to preference shareholders.

In due course, all preference shareholders will receive a circular with all necessary information around the amendments to the company’s Memorandum of Incorporation, to allow them to make an informed choice when approving the amendments.

This circular is subject to JSE requirements and involves a three-phase process, the timing of which is outside of the control of the product provider. Once the circular is issued, there is an approximate 20 working day period to allow preference shareholders time to review the document and consult with their advisors, before voting for approval at a Special General Meeting.

We will continue to keep you informed of further changes as Ecsponent Limited begins its turnaround strategy.

Should you have any queries during this lockdown period, the EFS team is available to support our clients. If you require any assistance you can email your EFS advisor, alternatively send an email to investor.relations@ecsponent.com.

Please note that a slightly delayed turnaround time can be expected as we aim to provide our valued clients with timeous, ongoing support.

We hope that you and your family are staying safe during these challenging times.

 

Geagte Voorkeuraandeelhouer,

Gedurende hierdie inperkingsperiode is die produkverskaffer, Ecsponent Limited, steeds in onderhandelinge om alternatiewe opsies voor te berei, wat aan voorkeuraandeelhouers aangebied gaan word.

Voorkeuraandeelhouers sal binnekort ‘n skrywe ontvang met alle nodige inligting rakende die wysigings aan die maatskappy se Memorandum van Inkorporering, sodat hulle ‘n ingeligte keuse kan maak by die goedkeuring van die wysigings.

Hierdie skrywe is onderhewig aan JSE-vereistes en behels ‘n driefase-proses, waarvan die tydsberekening buite die beheer van die produkverskaffer is. Sodra die skrywe uitgereik is, is daar ‘n tydperk van ongeveer 20 werksdae waartydens voorkeuraandeelhouers die dokument kan hersien en met hul adviseurs konsulteer, voordat hulle op ‘n Spesiale Algemene Vergadering sal stem vir goedkeuring.

Ons sal u voortdurend op hoogte hou van verdere veranderinge namate Ecsponent Limited sy omkeerstrategie begin.

Indien u enige vrae het gedurende hierdie inperkingsperiode, is die EFS-span beskikbaar om ons kliënte te ondersteun. As u hulp benodig, kan u ‘n e-pos stuur aan u EFS-adviseur, of stuur ‘n e-pos na investor.relations@ecsponent.com.

Let daarop dat daar moontlik ‘n vertraagde omkeertyd kan wees, maar wees verseker dat EFS daarop ingestel is om ons kliënte tydige, deurlopende ondersteuning te bied.

Ons vertrou dat u en u gesin veilig bly gedurende hierdie uitdagende tye.

 

Geagte Voorkeuraandeelhouer,

Kommunikasie gedateer 19 Maart, dui op nuwe aanstellings op die Ecsponent Ltd Raad. Die doel van die aanstellings is om die vaardighede en ervaring van die Raad uit te brei en verder te versterk vir die volgende groeifase.

Die Maatskappy het ‘n verdere aanstelling gemaak en vanaf 1 April 2020 sal Craig Lyons die rol vervul van nie-uitvoerende direkteur en Voorsitter van die Raad. Craig, ‘n ervare en bekende beleggingsbankier en sakeman, dien op die Raad van verskeie Suid Afrikaanse en Internasionale maatskappye in verskillende sektore, wat onafhanklike analises, sowel as finansiele kundigheid en strategiese leiding aan besighede bied.

Hy is die mede-stigter van twee Suid Afrikaanse beleggingsbanke en het hy in die verlede senior rolle vertolk by Hollard Insurance Company, Standard Corporate Merchant Bank en Mvelephanda Strategic Investmments.

Ecsponent se meerderheidsaandeelhouer, die MHMK Group, verteenwoordig deur George Manyere, vervul tans die dubbel-rol as Uitvoerende Voorsitter en Hoof Uitvoerende Beampte. Hy sal voortgaan as Hoof Uitvoerende Beampte, terwyl Craig Lyons die rol van Nie-Uitvoerende Voorsitter sal inneem. George sal geen vergoeding neem van Ecsponent Limited vir die volle termyn van Craig se kontrak nie, om sodoende die volhoubaarheid van Ecsponent te ondersteun.

Keith Rainer bly aan in die rol as Hoof Nie-uitvoerende Direkteur met ingang vanaf 1 April. Tertius de Kock is aangestel as die Hoof Finansiële Beampte, effektief vanaf 31 Maart, en Dirk van der Merwe sal ondersteuning bied aan die Raad.

Die aanstellings en herstrukturering van die Raad het die uitsluitlike doel om Ecsponent Limited te posisioneer as privaat ekwiteit speler, asook om ondergenoemde waarde te ontsluit vir aandeelhouers deur die groei van die onderliggende bates:

  • Die aanpassing en implementering van die Maatskappy se organisatoriese visie en sleutelwaardes.
  • Versterking van die Ecsponent Raad se kommittees, risikobestuur en beheerstukture.
  • Te verseker dat die Ecsponent Groep, waar hul ookal besigheid bedryf, die hoogste standaard handhaaf ten opsigte van hul sosiale verantwoordelikhede.

Gedurende hierdie inperkingsperiode, werk die EFS span voltyds tuis, ten einde u te ondersteun met inligting en die opdaterings van rekords. Die JSE is ook werksaam gedurende hierdie periode, maar ons verwag dat vertragings in kommunikasie mag voorkom.

Soos voorheen uitgewys, sal voorkeuraandeelhouers ‘n omsendskrywe ontvang met al die inligting rondom veranderinge aan die MOI (Memorandum van Inlywing) sodat n ingeligte besluit geneem kan word by die aanvaarding van die aanpassings.

Hierdie omsendskrywe is onderhewig aan die bepalings van die JSE en behels ‘n drie-fase proses waarvan die tydlyn buite die beheer is van die produkverskaffer.

Na die uitreiking van die sekulêr is daar n 20 dag periode om aandeelhouers die geleentheid te gee om die feite na te gaan en met hulle finansiele adviseurs te beraadslag, voor die stemming tot goedkeuring by ‘n Spesiale Algemene Vergadering.

Voorkeuraandeelhouers sal op hoogte gehou word van enige veranderinge met die omkeerstrategie.

Email Communication: 24 April 2020

Dear Client,

We hope you are well and safe as we anticipate the incremental lifting of lockdown restrictions. This has been an extremely challenging time for everyone in many ways, but we hope that the worst is behind us.

Similarly, a difficult and challenging time for EFS has also reached its crucial point: we have been keeping all our clients updated on developments at Ecsponent Limited as the company and its Board determines the steps to be taken to protect shareholder value going forward. These steps have been finalised and are ready to be presented to all investors who hold Ecsponent Limited preference shares.

As we have mentioned in previous correspondence, in the next few days an information circular will be sent to preference shareholders by Computershare, the transfer secretary of Ecsponent Limited. This circular will outline and explain the proposal presented to preference shareholders and the procedure for voting.

To ensure that none of our clients accidentally miss or overlook the communication, we will send out a newsletter confirming distribution as soon as the circular is published. All information will be available on Ecsponent Limited’s website, once it has been released. We will share the URL with you once it becomes available.

For any questions please feel free to contact EFS at 087 808 0100 or via email investor.relations@ecsponent.com

 

Geagte Kliënt,

Ons hoop u is gesond en veilig terwyl almal in afwagting is van die geleidelike afskaling van die grendelsituasie. Hierdie was vir ons almal ʼn baie uitdagende tyd in verskeie opsigte, maar ons vertrou dat die ergste nou verby is.

EFS het ʼn soortgelyke moeilike tyd beleef, wat ook nou ʼn kritieke punt bereik het: ons het ons kliënte op hoogte gehou van verwikkelinge by Ecsponent Limited terwyl die maatskappy en sy Raad die stappe vorentoe bepaal om waarde vir aandeelhouers te beskerm.

Hierdie proses is nou gefinaliseer en gereed om aan alle aandeelhouers van Ecsponent Limited se voorkeuraandeelprodukte gebied te word.

Soos in vorige korrespondensie genoem, sal n inligtingsirkulêr binne die volgende paar dae namens Ecsponent Limited, deur Computershare (die oordragsekretaris van Ecsponent Limited) aan voorkeuraandeelhouers gestuur word. Hierdie sirkulêr verduidelik die voorstelle aan voorkeuraandeelhouers, asook die prosedure om te stem.

Om te verseker dat niemand hierdie kommunikasie misloop nie, sal ons ʼn nuusbrief uitstuur wat die verspreiding van die sirkulêr deur Computershare bevestig. Alle inligting sal ook op Ecsponent Limited se webtuiste beskikbaar gestel word, sodra dit vrygestel word.

Vir enige vrae, skakel EFS gerus by 0878080100 of stuur ʼn e-pos aan investor.relations@ecsponent.com

Email Communication: 30 April 2020

Dear Preference Shareholder,

The circular to shareholders regarding proposed changes to Ecsponent Limited’s Memorandum of Incorporation (MOI) was published on SENS on 28 April and distributed to investors by Computershare (hereinafter the “MOI Circular”). The general meeting for preference shareholders to vote on the proposed amendments is scheduled to take place on Wednesday, 27 May 2020

Please find herewith some key points as outlined in the Executive Summary – read it here. It does not replace any information in the MOI Circular and shareholders are strongly advised to familiarise themselves with the content of the MOI Circular prior to making a decision.

Please click here to read the full MOI.

We encourage every investor to consult independently on the options put forward and then to choose the most suitable for their investment strategy.

For further any questions you can contact EFS at 087 808 0100 or via email investor.relations @ecsponent.com.

Geagte Voorkeuraandeelhouer,

Die sirkuler aan aandeelhouers aangaande voorgestelde aanpassings aan Ecsponent Limited se Memorandum van Inlywing (MOI) is op SENS gepubliseer op 28 April en aan beleggers versprei deur Computershare (hierna genoem die MOI Sirkuler). Die Algemene Vergadering van Voorkeuraandeelhouers om oor die voorgestelde aanpassings te stem sal plaasvind op Woensdag 27 Mei 2020.

Sekere sleutelpunte word uitgelig in die Uitvoerende Opsomming – lees dit hier. Dit vervang geensins enige inligting in die MOI Sirkuler nie en aandeelhouers word aangeraai om hulle self op hoogte te stel van die inhoud van die MOI voordat n besluit geneem word.

Klik hier om die volle MOI te lees.

Ons versoek elke belegger om onafhanklik te konsulteer oor die beskikbare opsies en dan die mees geskikte te kies vir hulle beleggingsstrategie.

Vir verdere vrae kan u EFS kontak by 0878080100 of deur te e-pos na investor.relations@ecsponent.com.

 

Email Communication: 5 May 2020

Dear Preference Shareholder,

Further to the circular and notices that have been sent out to all shareholders, the Board and executives at Ecsponent Limited will host several Investor Calls in order to provide an interactive response to queries or concerns.

A series of calls will begin on Thursday, 7 May for all shareholders of classes A, E and G, hosted on a digital web-based video conference call platform namely, Zoom. Shareholders are given the opportunity to log in to have their questions answered by representatives of Ecsponent Limited.

Shareholders who wish to participate will need to download and register the Zoom application at https://zoom.us/freesignup/. Registration and access to Zoom is free and the application can be downloaded onto laptops, tablets and mobile phones. Sending or asking questions is not mandatory, anyone may listen to and watch proceedings.

There are 3 timeslots available on Thursday, 7 May. Please choose your preferred time and click on the link to register:.

Once you have registered, you will receive a link to be used to access the session you have chosen. You will be given the opportunity to EMAIL any questions you may have, to investor.relations@ecsponent.com. These questions will be answered during the Investor Call.

How to register for Zoom

If you would like partake in the conference call, please visit https://zoom.us/freesignup/ and follow these steps

  1. Go to Zoom’s sign up page. You’ll be presented with a few options for creating an account. At the top, you can enter your email in the “Your work email address” field. This does not necessarily have to be your work email address – it can be a personal address too.
  2. You can also create an account by clicking the “Sign in with Google” or “Sign in with Facebook” buttons, after which you just download the Zoom desktop app and move on to step seven.
  3. If you entered an email address, Zoom will send an activation email to that address. Click the “Activate Account” button in the email or copy and paste the activation URL into your browser to activate your account.
  4. On the page that will open in your web browser, fill in your first and last name and a password.
  5. On the next page, you can invite other people to create a free Zoom account via email. You can skip this step if you want.
  6. Next, you’ll be given a link to your personal meeting URL and will have the option to click an orange “Start Meeting Now” button to start a test meeting. If you copy that URL into your browser or click that orange button, you should be prompted to download the Zoom desktop app. Follow the prompts to install the app.
  7. After you’ve installed the Zoom app, you’ll see buttons to “Join a Meeting” or “Sign In.” To start your test meeting, click “Sign In.”
  8. On the next screen, enter the email and password you just used to sign up for Zoom in your browser. If you registered using the “Sign in with Google” or “Sign in with Facebook” buttons, click those buttons here and follow the prompts.
  9. Once you’re logged in, make sure you’re on the “Home” tab, and then click the orange “New Meeting” button in the Zoom app. Your meeting will start.

Email Communication: 6 May 2020

Dear Preference Shareholder,

Further to the circular and notices that have been sent out to all shareholders, the Board and executives at Ecsponent Limited will host several Investor Calls in order to provide an interactive response to queries or concerns.

A series of calls will be hosted on Monday, 11 May for all shareholders of Class B shares, hosted on a digital web-based video conference call platform namely, Zoom. Shareholders are given the opportunity to log in to have their questions answered by representatives of Ecsponent Limited.

Shareholders who wish to participate will need to download and register the Zoom application at https://zoom.us/freesignup/. Registration and access to Zoom is free and the application can be downloaded onto laptops, tablets and mobile phones. Sending or asking questions is not mandatory, anyone may listen to and watch proceedings.

There are 3 timeslots available on Monday, 11 May. Please choose your preferred time and click on the link to register:.

Once you have registered, you will receive a link to be used to access the session you have chosen. You will be given the opportunity to EMAIL any questions you may have, to investor.relations@ecsponent.com. These questions will be answered during the Investor Call.

How to register for Zoom

If you would like partake in the conference call, please visit https://zoom.us/freesignup/ and follow these steps

  1. Go to Zoom’s sign up page. You’ll be presented with a few options for creating an account. At the top, you can enter your email in the “Your work email address” field. This does not necessarily have to be your work email address – it can be a personal address too.
  2. You can also create an account by clicking the “Sign in with Google” or “Sign in with Facebook” buttons, after which you just download the Zoom desktop app and move on to step seven.
  3. If you entered an email address, Zoom will send an activation email to that address. Click the “Activate Account” button in the email or copy and paste the activation URL into your browser to activate your account.
  4. On the page that will open in your web browser, fill in your first and last name and a password.
  5. On the next page, you can invite other people to create a free Zoom account via email. You can skip this step if you want.
  6. Next, you’ll be given a link to your personal meeting URL and will have the option to click an orange “Start Meeting Now” button to start a test meeting. If you copy that URL into your browser or click that orange button, you should be prompted to download the Zoom desktop app. Follow the prompts to install the app.
  7. After you’ve installed the Zoom app, you’ll see buttons to “Join a Meeting” or “Sign In.” To start your test meeting, click “Sign In.”
  8. On the next screen, enter the email and password you just used to sign up for Zoom in your browser. If you registered using the “Sign in with Google” or “Sign in with Facebook” buttons, click those buttons here and follow the prompts.
  9. Once you’re logged in, make sure you’re on the “Home” tab, and then click the orange “New Meeting” button in the Zoom app. Your meeting will start
Geagte Voorkeuraandeelhouer,

Met verwysing na die vorige sirkulêr en kennisgewings wat aan alle aandeelhouers gestuur is, sal die Raad en Uitvoerende amptenare van Ecsponent Limited, gashere wees tydens verskeie geleenthede waarby kliënte interaktief hulle bekommernisse en vrae kan stel.

Hierdie sessies vir beleggers word aangebied op Dinsdag, 12 Mei vir alle aandeelhouers van Klasse C en D aandele, en word gedoen deur ‘n webgebaseerde video konferensie platform genaamd ZOOM. Aandeelhouers kan inskakel en antwoorde op hul vrae kry, direk vanaf die verteenwoordigers van Ecsponent Limited.

Aandeelhouers wat wil deelneem, moet die ZOOM toepassing aflaai en registreer op Zoom se webtuiste. Die stuur van vrae is nie verpligtend nie en enigeen kan inskakel om na die gebeure te luister en kyk. Registrasie en toelating tot Zoom is gratis. Die toepassing kan afgelaai word op skootrekenaars, tablette of mobiele fone.

Op Dinsdag, 12 Mei is daar drie tydgleuwe beskikbaar, kies die mees gepaste een waarby u wil inskakel:.

Nadat u geregistreer het, sal u ‘n skakel ontvang wat gebruik moet word om die sessie by te woon. Indien u vrae het wat u graag gedurende hierdie ZOOM geleentheid sal wil beantwoord hê, stuur dit na investor.relations@ecsponent.com.

How to register for Zoom

If you would like partake in the conference call, please visit https://zoom.us/freesignup/ and follow these steps

  1. Go to Zoom’s sign up page. You’ll be presented with a few options for creating an account. At the top, you can enter your email in the “Your work email address” field. This does not necessarily have to be your work email address – it can be a personal address too.
  2. You can also create an account by clicking the “Sign in with Google” or “Sign in with Facebook” buttons, after which you just download the Zoom desktop app and move on to step seven.
  3. If you entered an email address, Zoom will send an activation email to that address. Click the “Activate Account” button in the email or copy and paste the activation URL into your browser to activate your account.
  4. On the page that will open in your web browser, fill in your first and last name and a password.
  5. On the next page, you can invite other people to create a free Zoom account via email. You can skip this step if you want.
  6. Next, you’ll be given a link to your personal meeting URL and will have the option to click an orange “Start Meeting Now” button to start a test meeting. If you copy that URL into your browser or click that orange button, you should be prompted to download the Zoom desktop app. Follow the prompts to install the app.
  7. After you’ve installed the Zoom app, you’ll see buttons to “Join a Meeting” or “Sign In.” To start your test meeting, click “Sign In.”
  8. On the next screen, enter the email and password you just used to sign up for Zoom in your browser. If you registered using the “Sign in with Google” or “Sign in with Facebook” buttons, click those buttons here and follow the prompts.
  9. Once you’re logged in, make sure you’re on the “Home” tab, and then click the orange “New Meeting” button in the Zoom app. Your meeting will start.

Email Communication: 16 May 2020

Dear Preference Shareholder,

Thank you to those who attended the virtual Investor Roadshow over the past two weeks.

During the nine sessions, we were able to engage with 57% of our preference shareholders. Understandably, there were many questions around the MOI and the proposed amendments.

The management team at Ecsponent Limited will be hosting a further session on the 20th of May 2020 for all shareholders of class A, B, E and G shares, we hope to address further questions preference shareholders might have. Ecsponent has also invited its ordinary shareholders to partake.

Shareholders who wish to participate will need to download and register the Zoom application at https://zoom.us/freesignup/. Registration and access to Zoom is free and the application can be downloaded onto laptops, tablets and mobile phones. Sending or asking questions is not mandatory, anyone may listen to and watch proceedings.

Please see a link to register for the Investor Call on Wednesday 20 May at:

Once you have registered, you will receive a link to be used to access the session. You will also be given the opportunity to send questions you would like to ask during the Investor Call. Please send these questions to Zoom@ecsponent.com.

For your reference, please see a link to the presentation from the first virtual Investor Roadshows here.

A detailed questions and answer document will also be sent to you before the upcoming virtual Investor Roadshow.

Geagte Voorkeuraandeelhouer,

Baie dankie aan die van u wat ingeskakel het na die virtuele Beleggersoproepe oor die afgelope twee weke.

Gedurende nege sessies het ons met meer as 57% van ons beleggers gepraat. Dis te verstane dat daar baie vrae was in verband met die MOI en die voorgenome wysigings.

Die bestuursspan van Ecsponent Beperk gaan ‘n verdere sessie aanbied op 20 Mei 2020 vir alle aandeelhouers van klasse A, B, E en G aandele, waar ons sal poog om enige verdere vrae te beantwoord wat voorkeuraandeelhouers nog mag hê. Ecsponent het ook gewone aandeelhouers uitgenooi om deel te wees van die sessie.

Aandeelhouers wat hieraan wil deelneem moet die Zoom toepassing aflaai en registreer by: https://zoom.us/freesignup/. Toegang en registrasie vir Zoom is gratis en kan afgelaai word op skootrekenaars, tablette en mobiele fone. Die instuur van vrae is nie verpligtend nie. Enige belegger mag luister en die gebeure dophou.

Die skakel vir die inbelgeleentheid vir beleggers op Woensdag 20 Mei om:

Na registrasie sal u ‘n skakel ontvang om toegang tot die sessie te verkry. Daar sal ook geleentheid wees om vrae in te stuur wat u graag wil vra gedurende die sessie. Stuur hierdie vrae na: Zoom@ecsponent.com.

Vir u inligting sien ook ‘n skakel na die eerste paar virtuele Beleggersoproepe HIER.

‘n Volledige vraag en antwoord dokument sal ook aan u gestuur word voor die voorgenome virtuele inbelgeleentheid.

Email Communication: 19 May 2020

Dear Preference Shareholder,

Thank you to all shareholders who submitted questions over the past two weeks. Please see below a link to the Question & Answer document ahead of our second round of Zoom calls this week, here

Just a friendly reminder that the call for shareholders of class A,B, E and G shares will take place on Wednesday, 20 May 2020, at 09h00

The link to register for this call is (Click here to register)

Once you have registered, you will receive a link to be used to access the session. You will also be given the opportunity to send any additional questions you would like to ask during the Investor Call. Please send these questions to Zoom@ecsponent.com.

Shareholders who wish to participate will need to download and register the Zoom application at https://zoom.us/freesignup/. Registration and access to Zoom is free and the application can be downloaded onto laptops, tablets and mobile phones. Sending or asking questions is not mandatory, anyone may listen to and watch proceedings.

Geagte Voorkeuraandeelhouer,

Baie dankie aan die van u wat ingeskakel het na die virtuele Beleggersoproepe oor die afgelope twee weke.

Gedurende nege sessies het ons met meer as 57% van ons beleggers gepraat. Dis te verstane dat daar baie vrae was in verband met die MOI en die voorgenome wysigings.

Die bestuursspan van Ecsponent Beperk gaan ‘n verdere sessie aanbied op 20 Mei 2020 vir alle aandeelhouers van klasse A, B, E en G aandele, waar ons sal poog om enige verdere vrae te beantwoord wat voorkeuraandeelhouers nog mag hê. Ecsponent het ook gewone aandeelhouers uitgenooi om deel te wees van die sessie.

Aandeelhouers wat hieraan wil deelneem moet die Zoom toepassing aflaai en registreer by: https://zoom.us/freesignup/. Toegang en registrasie vir Zoom is gratis en kan afgelaai word op skootrekenaars, tablette en mobiele fone. Die instuur of vra van vrae is nie verpligtend nie. Enige belegger mag luister en die gebeure dophou.

Die skakel vir die inbelgeleentheid vir beleggers op Woensdag 20 Mei om:

Na registrasie sal u ‘n skakel ontvang om toegang tot die sessie te verkry. Daar sal ook geleentheid wees om vrae in te stuur wat u graag wil vra gedurende die sessie. Stuur hierdie vrae na: Zoom@ecsponent.com.

Vir u inligting sien ook ‘n skakel na die eerste paar virtuele Beleggersoproepe HIER.

‘n Volledige vraag en antwoord dokument sal ook aan u gestuur word voor die voorgenome virtuele inbelgeleentheid.

Email Communication: 21 May 2020

Dear Investor,URGENT ADVISORY NOTE TO INVESTORS.

This is an importance notification of a correction of our previous correspondence sent to clients on 20 May 2020, with specific reference to paragraph 5.2 thereof:

5.2 What happens if not enough people vote in favour of the Hybrid Option?

 

5.2.1. The class converts to ordinary shares. This means that the value of your investment will convert. To explain, herewith a simplified example: If on the day of conversion to ordinary shares, your preference share investment value together with accrued dividends amount to R10,000, you will receive 274,725 ordinary shares at an issue price of R 0.0364 per share.

 

5.2.2. The ordinary share must be traded on the exchange in order to realise their monetary value. Investors understand the concept of supply and demand, together with the value accretive principle, should the share price increase.

For ease of reference please take note of Correspondence in full

  1. Further to the release of Ecsponent Ltd’s circular of 28 April 2020 (“the circular”), we have received queries regarding investors’ voting options on 27 May 2020 and the implications of such options on investments. The purpose of this advisory note is to respond to such questions and guide our clients wherever possible.
  2. You would appreciate that after Ecsponent Ltd had its circular approved by the JSE, there simply wasn’t enough time for EFS to consult with each of its clients between the circular being issued to investors on 28 April 2020 and the voting date of 27 May 2020. We understand however that the wording of the circular is technical and in the circumstances if you require any further clarification, you are urged to contact your financial advisor or EFS directly.
  3. We have reached out to Ecsponent Ltd to ascertain what information has been provided to investors following the issue of the circular and confirm that Ecsponent Limited has, over the last two weeks through virtual meetings, conversed with approximately 1,668 investors, regarding the consequences of the options that have been given to the investors. Furthermore, Ecsponent Limited has also urged investors to seek independent advice.
  4. In summary, the circular sets out the following:

4.1 You, as an investor in Ecsponent Ltd, are a preferent shareholder in one or more class of share. The terms and conditions of your preference share are embodied in the Memorandum of Incorporation (“MOI”) of Ecsponent Ltd. No changes to the terms of the preference shares are permitted, unless you as a preference shareholder vote in favour of such changes.

4.2 The terms of the preference shares state clearly that in the event of a default with regard to payment of dividends or redemptions, which is not remedied/corrected within 3 months, your preference shares will convert to ordinary shares in Ecsponent Ltd.

4.3 In an effort to prevent the conversion to ordinary shares, Ecsponent Ltd has proposed amendments to the MOI, which amendments will directly affect and impact you as a preferent shareholder. It is for this reason that you were provided with the circular which contains all the relevant information and a proxy form, to cast your vote in regard to the amendments to the MOI.

4.4 A successful vote in favour of the amendments will mean that your preference shares do not convert to ordinary shares, but will remain preference shares subject to new terms (“the Hybrid Option”).

  1. We believe it is prudent to set out what we believe are the consequences of voting in favour of the Hybrid Option, voting against it or abstaining from voting at all and we set these out below:

5.1 What if I choose the Hybrid Option?

5.1.1 You will hold preference shares which will provide you with preferential rights should a trigger event happen in Ecsponent Ltd. A trigger event takes place when the Company disposes of any of its assets. The Ecsponent Ltd board has worked very hard to restructure not only Ecpsonent, but also its assets and appoint appropriate management in each of the underlying assets.

5.1.2 Assets can only be sold at an appropriate time which makes commercial sense. The board will consider the cashflow requirements of the business and declare a discretionary dividend when a trigger event happens (subject to all laws and regulations of course).

5.1.3 Once dividends are declared, the board will confirm what value will be made available to you as a Hybrid preference shareholder in the form of partial/full redemption, which will be done equally across all Hybrid preference shareholders. You have a floor price provided in the amended MOI and this will be the redemption value. You will still have preference before any ordinary shareholder.

5.2 What happens if not enough people vote in favour of the Hybrid Option?

5.2.1. The class converts to ordinary shares. This means that the value of your investment will convert. To explain, herewith a simplified example:

If on the day of conversion to ordinary shares, your preference share investment value together with accrued dividends amount to R10,000, you will receive 274,725 ordinary shares at an issue price of R0.0364 per share.

 

5.2.2. The ordinary share must be traded on the exchange in order to realise their monetary value. Investors understand the concept of supply and demand, together with the value accretive principle, should the share price increase.

 

5.3. What if I do not vote?

5.3.1. By not voting you increase the chance of the whole share class defaulting to ordinary shares.

 

5.3.2. For the vote to be successful per preference share class, so that the proposed changes to the terms of the current preference shares are approved and conversion to ordinary shares is avoided, at least 75% of shareholders present or represented and 66.67% of the value of the class, must vote in favour of the Hybrid Option.

 

5.4. What about shareholders’ rights in terms of Section 164 of the Companies Act?

5.4.1. Section 164 of the Companies Act, provides for the “appraisal rights” remedy, which affords a shareholder, in specific circumstances (such as proposed amendments to a company’s MOI, as in this instance), the right to demand that the company buy back all shares held by that shareholder in the company and pay the shareholder the “fair value” of those shares.

 

5.4.2. However, it is EXTREMELY IMPORTANT to take note that the circular and the tabled resolution state that the proposed amendments to the MOI are conditional upon no preference shareholder invoking the rights contemplated in section 164.

 

5.4.3. This basically mean that if ONE shareholder in a class chooses to invoke the provisions of section 164, that entire class of preference shareholders will convert to ordinary shares, regardless of any votes cast.

 

5.4.4. In this event, no investments will be paid out due to the conditionality imposed on the resolution to be passed.

 

  1. So what must you do? You must complete you proxy form and submit it via email to proxy@computershare.co.zaby no later than 25 May 2020. No late submissions will be considered.
  2. If you have any questions regarding the completion of the proxy forms, please phone us and we will gladly assist you.

Email Communication 23 May 2020

Dear Preference shareholders,

REMINDER TO VOTE

Just a friendly reminder to exercise your voting rights on the amendments to the Ecsponent Limited MOI.

Please find below the links to the proxy forms:
https://www.ecsponentlimited.com/shareholder-voting-forms/

Shareholders are encouraged to complete and sign the proxy form at the back of the circular (each different class of preference share has a different colour) and scan this to the Transfer Secretaries, Computershare at proxy@computershare.co.za.

These forms must reach Computershare by no later than 11:15 this Monday, 25th May 2020.

Thank you to all the shareholders who have actively participated in all our investor calls over the past two weeks and who have submitted their proxy forms.

Email Communication 25 May 2020

 

Dear Preference shareholders,

Reference is made to the announcement released on SENS on 28 April 2020 advising ordinary and preference shareholders (collectively “Security Holders”) that a circular had been distributed to the Company’s Security Holders, setting out details relating to the proposed amendments to the Company’s Memorandum of Incorporation and containing notices of general meetings to be held on 27 May 2020 (“General Meetings”).

Security Holders are advised that as a consequence of the unprecedented nation-wide lockdown restrictions imposed on public gatherings as a result of the COVID-19 pandemic, the General Meetings will proceed as scheduled but will now only be accessible through electronic participation as permitted by the JSE Limited and in terms of the Companies Act, No 71 of 2008, and the Company’s Memorandum of Incorporation.

No Security Holders are permitted to attend the respective General Meetings at the premises of the Company.

It should be further noted that all proxies should contact Computershare Investor Services (Pty) Ltd at proxy@computershare.co.za on or before 09:00 on Wednesday, 27 May 2020.

This request is to allow the transfer secretaries sufficient time to process and audit all proxies received.

Security Holders who wish to participate in the General Meetings can do so by following the below information to an electronic platform wherein the Generals Meeting will be hosted:

 

ECSPONENT KENNISGEWING: REËLINGS VIR ALGEMENE VERGADERING 27 MEI 2020

 

Geagte Voorkeuraandeelhouers,

Daar word verwys na die aankondiging wat op 28 April 2020 op SENS uitgereik is, waarin gewone aandeelhouers en voorkeuraandeelhouers (gesamentlik “Sekuriteitshouers”) aangeraai word dat ‘n sirkulêr aan die maatskappy se Sekuriteitshouers versprei is, met besonderhede rakende die voorgestelde wysigings aan die maatskappy se Memorandum van Inkorporasie en kennisgewings van algemene vergaderings wat op 27 Mei 2020 gehou sal word (“Algemene Vergaderings”).

Sekuriteitshouers word in kennis gestel dat die Algemene Vergaderings, as gevolg van die ongekende landswye beperkings op openbare vergaderings as gevolge die COVID-19-pandemie, voortgaan soos geskeduleer, maar nou slegs toeganklik sal wees deur elektroniese deelname soos deur die JSE Beperk en ingevolge die Maatskappywet, No 71 van 2008, en die Memorandum van Inkorporasie van die maatskappy.

Geen Sekuriteitshouers mag die onderskeie Algemene Vergaderings op die perseel van die maatskappy bywoon nie.

Daar moet verder op gelet word dat alle stemvorms, Computershare Investor Services (Pty) Ltd, proxy@computershare.co.za bereik voor 09:00 op Woensdag, 27 Mei 2020

Hierdie versoek is om die oordragsekretarisse voldoende tyd te gee om alle stemvorms te verwerk en te kontroleer wat ontvang is.

Sekuriteitshouers wat aan die Algemene Vergaderings wil deelneem, kan dit doen deur die onderstaande inligting na ‘n elektroniese platform te volg waarin die Algemene Vergadering aangebied sal word:

Email Communication 27 May 2020

Dear Preference Shareholder,

Thank you to everyone who took part in the voting process and for your patience over the last few months while the Company was undergoing a restructuring process.

We also appreciate your understanding and commitment to a virtual voting process during these unprecedented times of Covid-19.

Following the conclusion of the general meeting of shareholders today, Ecsponent Limited has successfully converted R2.3 billion of debt into equity with R1.8 billion of debt converted into ordinary shares and R0.5 billion converted to hybrid preference shares. This development successfully completes the first phase of restructuring the Company’s balance sheet and greatly enhances solvency and liquidity of the Company.

Below are the results per class from the EGM held today:

  • Class A – will convert to ordinary shares after failing to meet the required voting thresholds and due to one preference shareholder in the class invoking Section 164 of the Companies Act;
  • Class B – will convert to ordinary shares after failing to meet the required voting thresholds and due to one preference shareholder in the class invoking Section 164 of the Companies Act;
  • Class C – will convert to ordinary shares after failing to meet the required voting thresholds and due to one preference shareholder in the class invoking Section 164 of the Companies Act;
  • Class D – will convert to hybrid preferential shares after voting in favour of the MOI amendments;
  • Class E – will convert to ordinary shareholders due to one preference shareholder in the class invoking Section 164 of the Companies Act; and
  • Class G – will convert to hybrid preferential shares after voting in favour of the MOI amendments.

As the new leadership team of Ecsponent Limited, we are satisfied with the number of votes that were cast – 66.7% of eligible preference shareholders exercised their voting rights. We have embraced the opportunity to engage in open and transparent communication with our valued shareholders over the past number of weeks and this will set the tone for future engagements.

Please see a link to the full press release from Ecsponent Limited detailing the outcomes of the vote – here

The incoming management team and board remains committed to growing the underlying assets and extracting maximum value for stakeholders, while creating a culture of open communications with you and providing a clear strategy for the future.

We will continue to update you regularly on the realisation of our strategy, the appointment of two new directors – representing preference and ordinary shareholders – to the board and the renaming and rebranding of the Company.

The outcome of the vote today reflects you, our valued shareholders’ views, and your commitment to the future of the new Ecsponent Limited.

Thank you and stay safe.

Geagte Voorkeuraandeelhouer,

Baie dankie aan elkeen wat aan die stemproses deelgeneem het en vir u geduld die afgelope paar maande terwyl die maatskappy ‘n herstruktureringsproses ondergaan het.

Ons waardeer ook u begrip en toewyding aan ‘n virtuele stemproses gedurende hierdie ongekende tye van Covid-19.

Na afloop van die algemene vergadering van aandeelhouers vandag, het Ecsponent Beperk die skuld van R2,3 miljard suksesvol in ekwiteit omgeskakel – R1,8 miljard se skuld in gewone aandele en R0,5 miljard omgeskakel na hibriedevoorkeuraandele. Hierdie ontwikkeling voltooi die eerste fase van die herstrukturering van die balansstaat van die onderneming suksesvol en verhoog die solvensie en likiditeit van die maatskappy aansienlik.

Hieronder is die uitslae per klas van die algemene jaarvergadering gehou:

  • Klas A – sal omskakel na gewone aandele nadat die vereiste stemdrempels nie nagekom is nie en as gevolg van een voorkeuraandeelhouer in die klas wat hom op artikel 164 van die Maatskappywet beroep;
  • Klas B – sal omskakel na gewone aandele nadat hulle nie aan die vereiste stemdrempels voldoen het nie en as gevolg van twee voorkeuraandeelhouers in die klas wat hulle op artikel 164 van die Maatskappywet beroep;
  • Klas C – sal omskakel na gewone aandele nadat hulle nie aan die vereiste stemdrempels voldoen het nie en as gevolg van nege voorkeuraandeelhouers in die klas wat hulle op artikel 164 van die Maatskappywet beroep;
  • Klas D- sal omgeskakel word na hibriedevoorkeuraandele nadat hulle ten gunste van die MOI-wysigings gestem het;
  • Klas E- sal omskakel na gewone aandeelhouers as gevolg van een voorkeuraandeelhouer in die klas wat hom op artikel 164 van die Maatskappywet beroep; en
  • Klas G – sal omgeskakel word na hibriedevoorkeuraandele nadat hulle ten gunste van die MOI-wysigings gestem het.

As die nuwe leierskorps van Ecsponent Beperk is ons tevrede met die aantal stemme wat uitgebring is – 66,7% van die stemgeregtigde voorkeuraandeelhouers het hul stemreg uitgeoefen. Ons het die afgelope paar weke die geleentheid aangegryp om in oop en deursigtige kommunikasie met ons gewaardeerde aandeelhouers te kommunikeer en dit sal die toon stel vir toekomstige verbintenisse.

Raadpleeg ‘n skakel na die volledige persverklaring van Ecsponent Beperk waarin die uitkomste van die stemming uiteengesit word – hier

Die inkomende bestuurspan en direksie bly daartoe verbind om die onderliggende bates te ontwikkel en maksimum waarde vir belanghebbendes te behaal, terwyl dit ‘n kultuur van oop kommunikasie met u skep en ‘n duidelike strategie vir die toekoms bied.

Ons sal voortgaan om u op hoogte te hou van die verwesenliking van ons strategie, die aanstelling van twee nuwe direkteure tot die direksie – wat voorkeur- en gewone aandeelhouers verteenwoordig met die naamsverandering en her-posisionering van die maatskappy.

Die uitslag van die stemming weerspieël vandag u, ons gewaardeerde aandeelhouers se siening, en u toewyding tot die toekoms van die nuwe Ecsponent.

Dankie en bly veilig.

Email Communication 1 June 2020

Dear Preference Shareholder,

Thank you for your participation, commitment and support during the Ecsponent Limited restructuring process.

Pursuant to the General Meetings held 27 May 2020, Ecsponent Limited converted R1.8 billion of preference shares into ordinary shares and R0.5 billion to the new hybrid preference share option, respectively.

We would like to remind you how the share conversion will work:

The conversion rate into ordinary shares shall be calculated at the volume-weighted average price of Ecsponent Limited’s ordinary shares, calculated over the preceding twenty days of trading on the JSE prior to the first day of default, which amounts to R0,03639 per ordinary share.

The conversion from preference shares to ordinary shares is therefore a value-for-value exchange. For example, if a preference shareholder holds one preference share worth R100, then the conversion will be for a hundred rand’s worth of ordinary shares, i.e. 2,748 ordinary shares valued at R0.03639 per ordinary share.

We refer you to the Q&A document on Ecsponent’s website for further information – here

When will my shares be issued?

The following will take place over the next two weeks with regard to Class A, B, C, D and G only:

  • The conversion of your preference shares into ordinary shares or the new hybrid preference shares will take place on Monday, 8 June 2020;
  • Computershare will issue you with new share certificates on Monday, 8 June 2020. Certificates are only issued in the event that you do not have a share trading account;

The following will take place in August 2020 with regard to Class E only:

  • The conversion of your preference shares into ordinary shares will take place on Friday, 7 August 2020;
  • Computershare will issue you with new share certificates on Monday, 11 August 2020. Certificates are only issued in the event that you do not have a share trading account.

Share Trading Accounts:

  • Should you wish to trade your shares on the JSE Limited, you can request Computershare to transfer your new ordinary share certificates into your stock trading account (more detail on these steps to follow). It is important to note that shares can only be traded in dematerialised (electronic) form;
  • Please speak to your bank or financial advisor about opening a share trading account or visit any of the following links*:

Absa Stock Broker: Click here
Standard Bank: Click here
First National Bank: Click here
Nedbank: Click here
Investec: Click here
Please note that other platforms can also be used like http://www.easyequities.co.za/
and Computershare: Click here
*This does not constitute financial advice, nor does Ecsponent specifically recommend or endorse any of the abovementioned companies. Any election to open a share trading account with any of the mentioned companies shall be at your sole discretion and for your personal account.

We are available should you have any questions around the conversion, please feel free to contact us on investor.relations@ecsponent.com

Stay safe during these times and once again, thank you for taking part in the restructuring process and exercising your vote

 

Geagte Voorkeuraandeelhouer,

Dankie vir u deelname en voortgesette ondersteuning gedurende Ecsponent Beperk se herstruktureringsproses.

Opvolgend tot die Algemene Vergadering van 27 Mei 2020, het Ecsponent Beperk R1,8 miljard se voorkeuraandele omgeskakel na gewone aandele en R0,5 miljard na die nuwe hibriede voorkeuraandele onderskeidelik.

Ons herinner u graag hoe die omskakeling van die aandele gaan werk:

Die omskakelingskoers na gewone aandele sal bereken word teen die geweegde gemiddelde prys van Ecsponent Limited se gewone aandele oor die voorafgaande 20 dae van handeldryf, direk voor die dag van wanbetaling, wat die bedrag van R0,03639 per gewone aandeel beloop.

Die omskakeling van voorkeuraandele na gewone aandele is dus ‘n volle rand-vir-rand ruiling. As ‘n voorkeuraandeelhouer bv. Een voorkeuraandeel besit van ‘n R100, sal die omskakeling wees na R100 se waarde in gewone aandele nl. 2,748 gewone aandele ter waarde van R0,03639 per gewone aandeel.

Ons verwys u na Ecsponent se webtuiste vir die Vrae en Antwoorde dokument – hier

Wanneer word my aandele uitgereik?

Die verloop oor die volgende twee weke is as volg, maar slegs aangaande Klasse A, B, C, D en G:

  • Die omskakeling van jou voorkeuraandele na gewone aandele of na die nuwe hibriede voorkeuraandele, sal plaasvind op Maandag 8 Junie 2020.
  • Computershare sal nuwe aandeelsertifikate aan u uitreik op Maandag 8 Junie 2020. Sertifikate sal slegs uitgereik word indien u nie n aandele handelsrekening het nie.

Die volgende vind plaas in Augustus 2020 maar slegs ten opsigte van Klas E alleenlik:

  • Die omskakeling van u voorkeuraandele na gewone aandele sal plaasvind op 7 Augustus 2020
  • Computershare sal nuwe aandeelsertifikate aan u uitreik op Maandag 11 Augustus 2020.

Sertifikate sal slegs uitgereik word indien u nie n aandele handelsrekening het nie.

Handelsrekening vir aandele:

  • Indien u met u aandele wil handeldryf op die JSE Beperk, kan u Computershare versoek om u nuwe gewone aandeelsertifikate oor te dra na u aandele handelsrekening (verdere inligting oor hierdie stappe volg) U moet daarop let dat aandele slegs in gedematerialiseerde (elektroniese) formaat, verhandel kan word.
  • Raadpleeg gerus u Bank of finansiële adviseur om ʼn aandeel handelsrekening te open of besoek enige van die volgende skakels:*

Absa Aandelemakelaar: Click here
Standard Bank: Click here
Eerste Nasionale Bank: Click here
Nedbank: Click here
Investec: Click here
Let daarop dat ander platforms ook gebruik kan word bv. http://www.easyequities.co.za/
en ook Computershare: Kliek hier
*Hierdie moet nie as advies beskou word nie, en ook nie dat Ecsponent enige van hierdie Maatskappye aanbeveel of onderskryf nie. Enige keuse om ‘’n aandele handelsrekening, met enige van die genoemde Maatskappye te open, word beskou as u eie diskresie en vir u eie rekening.

Vir enige vrae oor die omskakelingsproses, kontak ons gerus by: investor.relations@ecsponent.com

Baie dankie nogmaals vir u aandeel in die herstruktureringsproses en dat u ‘n stem uitgebring het.

Bly asseblief veilig in hierdie tyd.

Email Communication 8 June 2020

Dear Ecsponent Shareholder,

Pursuant to the outcome of the general meetings held 27 May 2020, the Ecsponent Limited preference share conversion process is well underway and, in the event that you do not hold a share trading account, will result in you receiving your new ordinary/hybrid preference shares in certificated format. However, in the modern day and age, although share certificates are legally valid proof of ownership, stock exchanges like the JSE do not operate using certificates any more, especially if you want to trade your shares. Certificated holdings must be dematerialised, i.e. recorded in electronic form. A simple example would be money in a bank account that can be transferred to another account (electronic/dematerialised) versus bank notes in your wallet which you can only use through face to face interaction (hard copy/certificated/materialised).

Without going through this account registration and electronic recording process you will not be able to buy and sell your Ecsponent Limited shares.

One of the entities which is able to record proof of ownership, is Computershare. In order to register your name alongside your shareholding as per your certificate, you will need to open a Custody and Settlement account with Computershare. This will require filling in some documentation which must then be sent to your stock trading broker (not Ecsponent) to register with Computershare.

You should receive a notification to this effect from Computershare in the week of 8 June 2020, with your shareholding certificates. Please note that this communication excludes all class E holders that will receive their communication during the week of 9 August 2020.

The documents you will need to open an account with Computershare is listed below and links can be followed to download, it are also available at here

The essential documents which must be completed are:

As a new Ecsponent ordinary/hybrid preference share shareholder you will also need to provide the following documentation:

  • A certified copy of your South African identity document;
  • An original or certified copy of your South African bank statement in your name, not more than three months old;
  • A certified copy of your service bill as proof of your residential address; and
  • Contact details such as an email address, mobile number and telephone landline during working hours.

Other forms are optional, in case they apply to you. Your stock trading broker will be able to calculate any applicable fees.

Computershare can be contacted directly for assistance at +27(0)11 370 5000 during business hours and at GroupAdmin1@Computershare.co.za

Geagte Ecsponent aandeelhouer,

Ingevolge die uitslag van die algemene vergaderings wat op 27 Mei 2020 gehou is, is die Ecsponent Beperk-omskakelingsproses goed aan die gang en, indien u nie ‘n aandeleverhandelingsrekening het nie, sal u u nuwe gewone / hubriede voorkeuraandele ontvang in sertifikaat vorm. Maar in die moderne tyd, hoewel aandelesertifikate wettig ‘n geldige bewys van eienaarskap is, werk aandelebeurse soos die JSE nie meer met sertifikate nie, veral as u u aandele wil verhandel. Gesertifiseerde belange/aandele moet gedematerialiseer word, dit wil sê in elektroniese formaat.

Sonder om deur hierdie rekeningregistrasie en elektroniese opname te gaan, sal u nie u Ecsponent Beperk-aandele kan koop en verkoop nie.

Om u naam teenoor aandeelhouding te registreer volgens u sertifikaat, moet u ‘n Bewarings- en vereffeningsrekening by Computershare of enige CSDP verskaffer van u keuse, open. Computershare is ook een van die entiteite wat ‘n bewys van eienaarskap kan aanteken teenoor u naam (of ‘n benoemde verhandelingsagent soos Computershare volgens u keuse). Ten einde die genoemde rekening oop te maak sal u dokumentasie moet invul wat dan aan u aandelemakelaar (nie Ecsponent nie) gestuur moet word om by Computershare te registreer (indien u nie van Computershare as verhandelingsagent gebruik maak nie).

U sal ‘n kennisgewing hieroor van Computershare ontvang in die week van 8 Junie 2020, met u aandeelhouersertifikate. Let daarop dat hierdie kommunikasie alle klas E-houers uitsluit wat hul kommunikasie gedurende die week van 9 Augustus 2020 sal ontvang.

Ons het die dokumente aangeheg wat u benodig om ‘n rekening by Computershare te open met hierdie e-pos, maar dit is ook beskikbaar by https://www.computershare.com/za/Pages/JSE-listed-securities.aspx

Die belangrikste dokumente wat voltooi moet word, is:

As ‘n nuwe aandeelhouer van Ecsponent Limited in die vorm van gewone of hibriedevoorkeuraandele, moet u ook die volgende dokumentasie voorsien:

  • ‘n Gesertifiseerde afskrif van u Suid-Afrikaanse identiteitsdokument;
  • ‘n Gesertifiseerde afskrif van u Suid-Afrikaanse bankstaat in u naam, nie ouer as drie maande nie;
  • ‘n Gesertifiseerde afskrif van u Munisipale rekening of ander bewys van u woonadres; en
  • Kontakbesonderhede soos ‘n e-posadres, selfoonnommer en telefoonlyn gedurende werkure.

Ander dokumentasie kan gevra word, indien dit op u van toepassing is. U aandelemakelaar sal enige toepaslike fooie vir u kan bereken.

Computershare kan direk gekontak word vir hulp by +27 (0) 11 370 5000 gedurende werksure en by GroupAdmin1@Computershare.co.za

 

 

 

 

 

 

 

 

 

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