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Further update on the disposal by ALTRON of its interest in Powertech Transformers

Released: 15th June 2018

JSE-listed Allied Electronics Corporation Limited (Altron) today announced that shareholders are referred to the announcements released on SENS on 15 November 2017 and 4 April 2018 relating to the disposal by Altron, through various of its subsidiaries, of its interest in the Powertech Transformers group on the terms and conditions applicable thereto.

As certain conditions precedent to the transaction are still being attended to, the parties have mutually agreed on an extension for the transaction to close by 31 July 2018. Altron has been provided with additional contractual assurances from the purchaser with regard to their commitment to finalising this transaction.