Aveng Limited announced a significant change in its corporate structure. The company has appointed Valeo Capital (Pty) Limited as its new sponsor, effective from Friday, July 7, 2023. This move reflects Aveng’s commitment to upholding the highest standards of corporate governance and compliance as a listed entity on the Johannesburg Stock Exchange (JSE).
Aveng Limited, with a registration number of 1944/018119/06, trades under the share code AEG on the JSE and holds the ISIN ZAE000302618. The company has played a prominent role in the construction and engineering sectors, undertaking various noteworthy projects throughout its history.
The decision to change sponsors comes in accordance with paragraph 2.7A(b) of the Listings Requirements of the JSE Limited, which governs the appointment of sponsors by listed companies. Aveng’s choice to enlist Valeo Capital as its new sponsor signifies a strategic shift in the company’s approach to regulatory compliance and corporate governance.
Valeo Capital (Pty) Limited, a well-regarded financial services firm, will assume the responsibilities of guiding and advising Aveng on its regulatory obligations and ensuring compliance with the JSE’s rules and regulations. The new sponsor will work closely with Aveng’s management team to provide strategic advice and facilitate transparent and efficient communication with the JSE and its stakeholders.