enX Group Limited, formerly Austro Group Limited, has been listed in the JSE’s “Industrial Engineering” sector, “Industrial Machinery” sub-sector since 2007. Austro’s name originated from the woodworking machinery business, Austro Proprietary Limited, its sole asset at the time of listing in 2007.

The group then acquired two industrial businesses being New Way Power (generators business) and Centlube (an oil lubricant business which represents Mobil in sub-Saharan Africa). Following these major changes in the composition of the group, the board elected to change the name of the group to better reflect the group’s new composition and the direction in which it is heading. The name enX is an acronym for Energy Exchange and it highlights the board’s intention to refocus enX as an energy and industrial supplies company servicing sub-Saharan Africa.

enX continued to expand its diversified industrial offering by acquiring West African Group (a plastics, polymers, rubber and associated chemicals distributor) and lastly Eqstra Fleet Management (a passenger and commercial vehicle leasing and related services business) and EIE Group (an industrial equipment business).

During 2020 the group disposed of its United Kingdom forklift operations. On 1 April 2022 enX effectively disposed of its EIE SA operations and on 30 June 2022 of Austro.

Eqstra Fleet management (‘’Eqstra’’), which previously made up the Fleet segment, provided a full spectrum of commercial and passenger vehicle leasing services including fleet management, outsourcing solutions, maintenance, warranty management, remarketing and vehicle tracking solutions. Included in Eqstra, was Kynite, a Software-as-a-Service (‘’SaaS’’) solution which digitised the full spectrum of vehicle services, with external customers making use of this offering. Both Eqstra and Kynite were classified as a disposal group held for sale in terms of IFRS 5 with effect from 31 August 2023. The group disposed of the business with effect from June 2024.

The Company had entered into a sale of shares agreement on 13 December 2024, in terms of which enX disposed of its 66% interest (including loan claims) in Centlube (Pty) Ltd., its 100% interest (including loan claims) in Ingwe Lubricants (Pty) Ltd. and its 37% interest in Zestcor Eleven (Pty) Ltd., and enX Leasing would dispose of its loan claim in Ingwe to Abakhulu Investments (Pty) Ltd., collectively known as the Lubricants segment. enX announced that the Agreement has become unconditional and the Final Transaction Price Statement (as defined in the Terms Announcement) became final and binding on 11 March 2025 (“Closing Date”).

On 31 March enX Trading had entered into a Subscription and Options Agreement (“Agreement”) with Trichem South Africa Proprietary Limited (“Trichem SA”) in respect of its interest in West African International Proprietary Limited (“WAI”). In terms of the Agreement Trichem SA subscribed for 25% of the entire issued ordinary share capital (‘’First Subscription Shares”) of WAI, which was implemented on 30 April 2025, with proceeds of R107.3 million received. On 20 February 2026 Trichem SA delivered notice of its intention to exercise the Full Ownership Option (‘’Transaction’’). The Transaction constituted a disposal by enX (and its subsidiary enX Trading) of the greater part of its assets or undertaking as contemplated in section 112 (read with section 115) of the Companies Act and as such, was subject to shareholder approval, which was obtained at the general meeting held on 7 April 2026. The Transaction became unconditional, the requisite Takeover Regulation Panel compliance certificate was received and the Transaction closed on 30 April 2026, with proceeds of R294.7 million received. The associated escrow security of R107.3 million was released in May 2026.