EnX : Notice of Annual General Meeting 2021 for the Year Ended 31 August

NOTICE OF ANNUAL

GENERAL MEETING

2021

for the year ended 31 August

CONTENTS

ANNUAL GENERAL MEETING 1 Letter to shareholders

1 Shareholders' diary

2 Summarised consolidated statement of financial position

3 Summarised consolidated statement of profit or loss and other comprehensive income

1. Headline earnings
2. Summarised consolidated statement of changes in equity

7 Summarised consolidated statement of cash flows

8 Summarised consolidated segmental analysis

11 Notes to the summarised consolidated annual financial statements

1. Notice of annual general meeting

1. Form of proxy ibc Administration

B	enX AGM NOTICE 2021

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SHAREHOLDER

INFORMATION

LETTER TO SHAREHOLDERS

Dear shareholder,

On behalf of the board of directors ("the board"), you are invited to attend the annual general meeting (meeting) of enX Group Limited ("enX" or "the company") which will be held on Thursday, 20 January 2022 at 9:00 at enX Boardroom, 9th Floor, Katherine Towers, 1 Park Lane, Wierda Valley, Gauteng.

In line with enX's focus on sustainability and commitment towards creating a greener environment, the integrated report, which includes the consolidated annual financial statements and governance reports will not be mailed to all shareholders. Instead, these documents may be viewed on the company's website www.enxgroup.co.za or can be requested from the company secretary at [e-mail] or telephonically on [phone].

The board recognises the importance of its shareholders' presence at the meeting. This is an opportunity for you to meet and engage with members of the board regarding the company's performance for the year ended 31 August 2021 and to participate in discussions relating to items included in this meeting notice. The chairpersons of the various board committees, senior members of management as well as the company's external auditors will be present to respond to questions from shareholders.

The date on which you must be registered as a shareholder in the company's register for the purposes of being entitled to attend and vote at the meeting is Friday, 14 January 2022 (record date). The last day to trade in enX shares in order to be eligible to vote at the meeting is therefore Tuesday, 11 January 2022. Only shareholders who are physically present at the meeting or represented by a valid proxy or letter of representation will be entitled to vote on any matter put to a vote of shareholders. If you are unable to attend the meeting, you are welcome to forward any questions you would like to address to the members of the board to the company secretary at [e-mail] and they will be answered on the day of the meeting. All questions should be sent by Friday, 14 January 2022.

Yours sincerely

PC Baloyi

Chairman

SHAREHOLDERS' DIARY

Financial year-end	31 August
Audited 2021 results released	3 November 2021
2021 annual integrated report posted	25 November 2021
Annual general meeting	20 January 2022
Interim results announcement	May 2022

enX AGM NOTICE 2021

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ANNUAL FINANCIAL

STATEMENTS

SUMMARISED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	as at	as at
	31 August 2021	31 August 2020
	R'000	R'000
ASSETS
Non-current assets	3 185 840	7 019 397
Property, plant, equipment and right of use assets	259 561	621 446
Leasing assets	2 769 789	6 087 417
Goodwill	-	92 461
Intangible assets	33 375	73 308
Investment in associate	103 852	70 916
Unlisted investments and loans	851	9 175
Deferred taxation	18 412	60 050
Trade, other receivables and derivatives	-	4 624
Current assets	2 334 733	3 592 610
Trade, other receivables and derivatives	810 697	1 064 879
Inventories	665 356	1 622 021
Taxation receivable	2 663	19 801
Bank and cash balances	856 017	885 909
Disposal group held for sale	2 794 679	-
Total assets	8 315 252	10 612 007
EQUITY AND LIABILITIES
Capital and reserves	2 661 950	2 497 447
Stated capital	3 134 092	3 134 092
Other reserves	(733 554)	(595 867)
Accumulated profits/(loss)	224 597	(75 261)
Equity attributable to equity holders of the parent
2 625 135	2 462 964
Non-controlling interests	36 815	34 483
Non-current liabilities	2 046 164	4 159 009
Interest-bearing liabilities	1 700 071	3 620 250
Lease liabilities	93 415	95 741
Employee benefits	1 179	5 090
Deferred taxation	251 499	437 928
Current liabilities	1 493 253	3 955 551
Interest-bearing liabilities	359 556	2 241 028
Deferred vendor consideration	-	33 895
Lease liabilities	30 584	115 675
Trade, other payables, provisions and derivatives	1 083 882	1 536 226
Taxation payable	19 231	23 350
Bank overdrafts	-	5 377
Liabilities associated with disposal group held for sale	2 113 885	-
Total equity and liabilities	8 315 252	10 612 007
Supplementary information:
Number of shares in issue	182 312 650	182 312 650
Weighted number of shares in issue (net of treasury shares)	181 366 763	181 017 311
Net asset value per share (cents)#	1 447	1 361
Net tangible asset value per share (cents)	1 434	1 280

• Equity attributable to equity holders of the parent/Number of ordinary shares in issue net of treasury shares.

2	enX AGM NOTICE 2021

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ANNUAL FINANCIAL

STATEMENTS

SUMMARISED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		Restated*
	For the year ended	for the year ended
	31 August 2021	31 August 2020
	R'000	R'000
Continuing operations
Revenue	4 334 591	3 867 230
Cost of sales	(2 934 691)	(2 632 370)
Gross profit	1 399 900	1 234 860
Expected credit losses	28 384	(29 375)
Operating expenses	(1 086 675)	(1 095 037)
Operating profit before items listed below	341 609	110 448
Impairment of goodwill, intangible assets and property, plant and equipment	(1 721)	(318 170)
Adjustment on deferred vendor consideration	-	(30 688)
Operating profit before net finance costs and earnings from associate	339 888	(238 410)
Net finance costs	(151 757)	(195 999)
Interest received	6 902	13 678
Interest expense	(158 659)	(209 677)
Share of profits from associate	32 936	11 711
Profit/(loss) before taxation	221 067	(422 698)
Taxation	(55 593)	102 011
Profit/(loss) after taxation	165 474	(320 687)
Attributable to:
Equity holders of the parent	163 142	(320 226)
Non-controlling interests	2 332	(461)
Net profit/(loss) after taxation ("PAT")	165 474	(320 687)
Discontinued operations
Profit/(loss) for the year from discontinued operations	136 716	(192 243)
Net profit/(loss) after taxation ("PAT")	302 190	(512 930)
Attributable to:
Equity holders of the parent	299 858	(512 469)
Continuing operations	163 142	(320 226)
Discontinued operations	136 716	(192 243)
Non-controlling interests	2 332	(461)
Net profit/(loss) after taxation	302 190	(512 930)

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