AECI Limited has received approval from the JSE Limited for its amended and restated ZAR 5,000,000,000 Domestic Medium Term Note Programme Memorandum. The move reflects the company’s commitment to maintaining transparency and compliance with the evolving regulatory landscape. These changes are expected to have a substantial impact on the company’s debt capital market operations.
One of the notable changes in the amended memorandum is the update from AECI Mining Solutions Limited to AECI Mining Limited. This alteration accounts for a name change and ensures that the document aligns with the latest corporate nomenclature.
Another key change involves references to the “BESA Guarantee Fund Trust.” These references have been updated to “JSE Debt Guarantee Fund Trust” throughout the memorandum. This modification aims to accurately reflect the financial entities involved in the programme and maintain compliance with regulatory requirements.
AECI Limited has paid close attention to amendments in the terms and conditions of its note issuance. Several critical conditions have been updated, including those related to issue, form, denomination, status, guarantees, interest, payments, redemption, taxation, exchange, registration, transfer, prescription, events of default, agents, notices, amendments, meetings, and governing law.
Minor updates have also been made to the guarantee and form of accession letter and conditions precedent sections.
The use of proceeds section has been updated to provide more comprehensive information. Further updates have been made in sections related to settlement, clearing, and transfer of notes, subscription and sale, taxation, South African exchange control, general information, and corporate details. These changes reflect AECI’s commitment to transparency and compliance with relevant laws and regulations.
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