REDINK RENTAL (RF) LIMITED - Update on Event of Default - RED162

Update on Event of Default - RED162

REDIN RENTALS (RF) LIMITED
Date: 6 December 2024
Stock Code: RED162


UPDATE ON EVENT OF DEFAULT ANNOUNCEMENT OF ALL CLASS A NOTES ISSUED IN RELATION TO TRANSACTION NO. 16
– TOWER INVESTMENTS (SMART TREAD FINANCING AGREEMENT)


Noteholders of the Class A note issued with stock code Transaction No. 16 – Tower Investments (Smart Tread Financing
Agreement) ("Transaction No. 16) are referred to SENS announcement dated 3 December 2024, in which the Issuer
notified noteholders that an Events of Default of the terms and conditions of the notes under the Programme in
relation to Transaction No. 16 will be triggered, following –

    •    The occurrence of a Borrower Default as defined;

    •    The motion proceeding instituted by the Issuer against the Guarantor, Lombard Insurance Company Limited,
         for payment of the sum as guaranteed, limited to R60 million, was served on the Guarantor on the 30th of
         March 2023; and

    •    that the matter was heard in the Commercial Court on 30 April 2024, with judgement yet to be received.



Judgement was handed down this morning at 09h00, with order granted in favour of the Issuer for the amount of
R60 million, with interest and costs.

Further updates will be made following developments and as circumstances demand.



Capitalised terms and expressions used here and not otherwise defined herein, shall have the meanings ascribed to
such terms and expressions in the programme memorandum issued by the Issuer in relation to the Programme dated
29 May 2015 (the "Programme Memorandum"), and the amended and restated Applicable Pricing Supplement in
relation to Transaction No. 16.



For further information on the Note issued please contact:

Charlize Wiederkehr
Redinc Capital
charlize@red-inc.co.za

Date: 06-12-2024 12:45:00
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