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Nature of Business
AEP was incorporated on 24 January 2017 and successfully listed as a Special Purpose Acquisition Company (SPAC) on the Alternative Exchange Board (AltX) of the Johannesburg Stock Exchange (JSE) on 30 June 2017. The primary purpose of a SPAC is to pursue the acquisition of viable assets being investments in commercial enterprises in the energy sector with high growth potential. Unless and until such viable assets are acquired, the only material asset of a SPAC is the cash which it holds pursuant to a capital raise through the issue of shares. The cash is held in escrow and invested conservatively for the protection of the company’s shareholders. If the acquisition of a viable asset is not completed within a 24-month period from the date on which the SPAC was listed or such later date as the JSE may permit, the SPAC is required to return the subscription funds initially invested to shareholders, plus accrued interest, less permissible expenses and taxation.
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| Chairman |
Wright, DW |
| Company Secretary |
Imbokodvo Bethany Governance |
| E-Mail |
info@aep.co.za |
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| Telephone |
011-268-5540 |
| Fax |
086-506-7061 |
| Postal Address |
PO Box 652101, Benmore, 2010 |
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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