AECI
LIMITED
(Incorporated
in
the
Republic
of
South
Africa) (Registration No. 1924/002590/06)
Company
code:
AECI
LEI:
3789008641F1D3D90E85
Bond code: AECI05 ISIN:
ZAG000199258
Bond code:
AECI06 ISIN:
ZAG000199266
(AECI
or
the
Issuer)
NOTIFICATION
OF AMENDMENTS TO THE AECI05 AND AECI06 APPLICABLE PRICING
SUPPLEMENTS, AVAILABILITY OF THE AMENDED AND RESTATED APPLICABLE
PRICING SUPPLEMENTS, AVAILABILITY OF THE UPDATED SUSTAINABILITY
LINKED FINANCE FRAMEWORK AND SECOND PARTY OPINION DOCUMENTS AND
AVAILABILITY OF THE SUSTAINABILITY COMPLIANCE
CERTIFICATE
Capitalised
terms used herein which are not otherwise defined shall bear the
meaning ascribed thereto in the terms and conditions of Issuer's
amended and restated programme memorandum dated 4 September 2023 (the Programme
Memorandum)
and
the
applicable
pricing
supplements
issued in
respect
of
the
ZAR535,000,000 senior
unsecured floating rate notes (AECI05) (the AECI05
Notes) and
ZAR465,000,000 senior unsecured
floating rate notes (AECI06) (the AECI06
Notes),each
dated 6 September 2023 (collectively,
the Applicable
Pricing
Supplements).
Each
holder of the AECI05 Notes and the AECI06 Notes (collectively,
the Noteholders),
are referred to the announcement released on the Stock Exchange
News Service (SENS)
of the JSE Limited on 29 April 2024,
in relation to the delay of the correction of a manifest error
relating to an input into KPI 1 and KPI 2 (as defined in the
Issuer's Sustainability Linked Finance Framework, dated
11 August 2023).
The
denominator
of
the
Baseline
for
KPI
1
and
KPI
2
(as
defined
in
the
Issuer's
updated
Sustainability
Linked
Finance Framework
(SLFF)
dated
30
May
2024),
has
received
limited
assurance
to
ensure
the
accuracy
of
these
values and
therefore
the
completeness
and
correctness
of
the
recalibration
of
the
Baseline
and
Sustainability
Performance Targets
(SPTs)
for
KPI
1
and
KPI
2.
This
limited
assurance
report
is
available
at
https://www.ftp.aeciworld-online.com/reports/ar-2022/pdf/aeci-production-data-fy2022-report-with-limited-assurance-
report.pdf
alongside
a
Sustainability
Adjustment
Event
memo
which
provides
further
context,
available
at
https://www.ftp.aeciworld-online.com/pdf/debt-capital-markets/aeci-adjustment-event-summary-investors.pdf.
Accordingly,
the Sustainability Performance Target Table in each of the
Applicable Pricing Supplements has been amended to incorporate the
necessary recalibration. The
amended and restated applicable pricing supplements are available
through a secure electronic manner at the election of the person
requesting inspection and at
https://investor.aeciworld.com/debt-capital-markets.
Consequently,
as required under paragraph 4 of the Additional Terms and
Conditions of the Applicable Pricing Supplements
(Sustainability
Adjustment
Event), the
Issuer has
updated and made available
the
updated SLFF dated
30 May 2024 available https://www.ftp.aeciworld-online.com/pdf/debt-capital-markets/aeci-sustainability-linked-
financing-framework-may-2024.pdf,
which is accompanied by an updated Second Party Opinion
(SPO)
dated https://www.ftp.aeciworld-online.com/pdf/debt-capital-markets/final-aeci-slb-spo-31052024.pdf
.
Lastly,
Noteholders are advised that the Sustainability Compliance
Certificate is now available at
https://www.ftp.aeciworld-online.com/pdf/debt-capital-markets/2024-sustainability-compliance-certificate-aeci.pdf.
A copy of
the duly executed Sustainability Assurance Report is also available
at https://www.ftp.aeciworld-
online.com/reports/ar-2023/pdf/sustainability-assurance-report.pdf.
For any avoidance of doubt, the availability of the Sustainability
Compliance Certificate
will have
no
impact
on
the
Margin's
of both
the AECI05
and AECI06
Notes. The
increased Margin applicable as per the Sustainability Margin
Adjustment Event that Noteholders were notified of in the SENS
released on 29 April 2024 remains
effective.
4
June
2024
Debt
sponsor
Rand
Merchant
Bank
(a
division
of
FirstRand
Bank
Limited)