CURRO HOLDINGS LIMITED - PSG Group Unbundling of Interest in Curro

PSG Group Unbundling of Interest in Curro

CURRO HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Alpha Equity Code: COH
LEI: 378900E237CB40F0BF96
ISIN: ZAE000156253
JSE Debt Alpha Code: COHI
(“Curro” or “the Company”)

PSG GROUP UNBUNDLING OF INTEREST IN CURRO

Shareholders are referred to the SENS announcement published by PSG Group Limited
("PSG Group") today, 1 March 2022 regarding the proposed restructure of PSG Group,
including the proposed pro rata distribution in specie of PSG Group’s shareholding in Curro
and various other investees to PSG Group shareholders (“PSG Group Unbundling”). PSG
Group, via its wholly-owned subsidiary PSG Financial Services Limited, currently holds
approximately 63.6% of the Company’s total issued share capital.

PSG Group has been a long-term, supportive shareholder of Curro and the Company
appreciates the value added by PSG Group over many years.

Should the PSG Group Unbundling be implemented, the founding and management
shareholders of PSG Group, will continue to hold a sizeable shareholding directly in Curro,
and are committed to the Company and its strategy.

The change in the shareholding structure of the Company as a consequence of the PSG
Group Unbundling will not impact our business model, operations or strategic direction and
the management team remains committed to delivering on Curro’s strategy and growth
potential. Curro is well capitalised and should benefit from the additional liquidity.

As indicated in PSG Group’s announcement, the PSG Group Unbundling remains subject
to conditions precedent customary for transactions of this nature, including PSG Group
obtaining the necessary regulatory and shareholder approvals.
Durbanville
1 March 2022

Sponsor
PSG Capital

Independent joint sponsor
UBS South Africa

Date: 01-03-2022 08:40:00
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