PSV HOLDINGS LIMITED - Update on PSV Asset Company Proprietary Limited ("PSVA")

Update on PSV Asset Company Proprietary Limited ("PSVA")

PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
(“PSV” or “the Company” or “the Group”)

UPDATE ON PSV ASSET COMPANY PROPRIETARY LIMITED (“PSVA”)

Shareholders are referred to the previous announcements published on SENS, the last
of which was dated 4 May 2021, in which they were advised, inter alia, that PSVA,
which company held the plant and equipment of the PSV Group, had been placed
into business rescue.

Shareholders are advised that The Business Rescue Practitioners published a draft
business rescue plan (“the plan”) and in terms of the Companies Act section 143 and
151 meetings held on 6 May 2021, the plan was approved by 100% of the creditors
who voted on the plan, which vote included the required level of 50% of independent
creditors.

The Business Rescue Practitioner’s proposed fees were approved by the requisite
majority of creditors. PSVA has ceased trading and once the proceeds of the assets
sold on public auction, are distributed in terms of the plan, the Business Rescue
Practitioners will file for substantial completion at CIPC.


Johannesburg
14 May 2021


Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 14-05-2021 12:19:00
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