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Abil concludes agreement with BEE shareholders

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Johannesburg - African Bank Investments [JSE:ABL] advised shareholders on Monday that, in terms of a settlement agreement concluded on 12 July 2016 between Abil and its empowerment shareholder, Eyomhlaba Investment Holdings, the BEE company has pursuant to its business rescue plan returned to Abil 48 176 160 Abil ordinary shares representing 3.21% of the issued ordinary share capital of Abil.

Shareholders were also advised that, in terms of a settlement agreement concluded on 12 July 2016 between Abil and its empowerment shareholder, Hlumisa Investment Holdings, the BEE company has pursuant to its business rescue plan returned to Abil 25 911 800 Abil ordinary shares representing 1.73% of the issued ordinary share capital of Abil.

The agreements constitute a full and final settlement of all disputes and claims of whatsoever nature between Abil on the one hand and Eyomhlaba and Hlumisa on the other. The ordinary shares which have been returned by the BEE companies to ABIL will be cancelled.

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