ALTVEST CAPITAL LIMITED - ACOF secures R75 million SEDFA Loan and dealings in securities by associates of a director

ACOF secures R75 million SEDFA Loan and dealings in securities by associates of a director

ALTVEST CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2021/540736/06)
LEI Number: 37898OOE85B7YW5EEW57

JSE Share Data:
Ordinary Share Code: ALV ISIN: ZAE000337051
Preferred C Ordinary Share Code: ALVC ISIN: ZAE000338448
("Altvest Capital")


ACOF SECURES R75 MILLION SEDFA LOAN AND DEALINGS IN SECURITIES BY ASSOCIATES OF A DIRECTOR


Altvest Capital is pleased to announce that on 28 February 2025 its wholly owned subsidiary, Altvest Credit Opportunities
Fund Limited ("ACOF"), secured a five-year term loan of R75 million from the Small Enterprise Development and Finance
Agency (SOC) Limited ("SEDFA") (the "SEDFA Loan").

The funds received pursuant to the SEDFA Loan will be deployed to further expand ACOF's lending activities to
predominantly women owned, or women operated small and medium-sized enterprises ("SMEs") in various sectors,
enhancing economic participation and job creation across the SME sector, thereby further strengthening ACOF's position
in the SME financing ecosystem.

The following security arrangements have been put in place to facilitate the SEDFA Loan (the "Security Arrangements"):
-       A cession of the SEDFA funded debtors loan book;
-       A personal surety from Warren Wheatley, the Chief Executive Officer of Altvest Capital and Executive Director of
        Altvest Capital;
-       A cross-guarantee by WGW Capital Proprietary Limited ("WGW"), an associate of Warren Wheatley;
-       A cession of 3 405 544 Altvest Capital ordinary shares held by WGW and 1 699 824 Altvest Capital ordinary shares
        held by Tatum Keshwar Investments Proprietary Limited ("TKI")for the duration of the SEDFA Loan. Tatum,
        Wheatley, a director of ACOF and wife of Warren Wheatley, is the sole shareholder of TKI;
-       A cession of the shares in WGW held by the WGW Family Trust, an associate of Warren Wheatley; and
-       A cession of the ACOF bank account where the SEDFA Loan funds will be managed.

In recognition of the guarantees provided, WGW and TKI will receive an annual security fee of 2% on the pledged security
over the term of the SEDFA Loan, amounting to a fee of R1.7 million per annum. The Altvest Capital board of directors
duly approved the SEDFA Loan and Security Arrangements and is satisfied that the SEDFA Loan and Security Arrangements
(including security fee payable to WGW and TKI) are subject to normal commercial terms.

The Security Arrangements constitute the granting of credit (which includes the lending of money or a guarantee of loan)
by a related party to ACOF on normal commercial terms and on an unsecured basis in accordance with paragraph 10.6 of
the JSE Listings Requirements and are accordingly not regarded as related party transactions for purposes of section 10
of the JSE Listings Requirements.

As Warren Wheatley is a director of Altvest Capital, the cession of 3 405 544 Altvest Capital ordinary shares held by WGW
and 1 699 824 Altvest Capital ordinary shares held by TKI constitutes a dealing in securities by associates of a director of
Altvest Capital. The transaction was concluded off-market and clearance to deal was obtained.
Sandton
28 February 2025

Designated Advisor
Questco Corporate Advisory


Legal Advisor
RDKM Advisory Proprietary Limited

Date: 28-02-2025 03:00:00
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