enX completes first step in West African international divestment

enX Group Limited (JSE:ENX) announced the completion of the First Subscription Step in its divestment of its interest in West African International, according to its announcement on the Stock Exchange News Service. Trichem SA has subscribed for 66,667 ordinary shares, representing 25% of WAI's issued share capital post issue. The gross proceeds from the First Subscription amounted to ZAR 107,300,111. This amount is subject to adjustment and audit review in terms of the agreement. The proceeds will be held in an interest-bearing escrow account as security for enX Trading’s payment obligations related to the Put Option price. The First Subscription Step is categorized as a category 2 transaction under the JSE Limited Listings Requirements. Further announcements will be made upon exercise of the Put Option or the Full Ownership Option, or the expiry of the Extended Put Option Period.