General SENS Submitter Company - Lewis Group LTD - Favourable Judgment for Lewis by the High Court - LEWI

Lewis Group LTD - Favourable Judgment for Lewis by the High Court - LEWI

Lewis Group Limited
Registration number 2004/009817/06
JSE Bond Code : LEWI
(“Lewis”)

Favourable Judgment for Lewis by the High Court in the Appeal by the National Credit
Regulator in relation to the issues of Club fees and Extended warranties.

Shareholders are referred to the announcement released on SENS of 5 June 2017 regarding
the favourable judgment for Lewis by the National Consumer Tribunal (NCT) in the matter
between the National Credit Regulator (“NCR”) and Lewis Stores (Pty) Ltd (“Lewis”), which
the NCR initiated in 2016 in relation to the issues of club fees and extended warranties. In a
majority judgment, the NCT found that:

• The National Credit Act (“Act”) does not prevent credit providers from offering the services
  of a club to consumers, provided these services are not part of the “cost of credit”. It was
  found that the club fees charged by Lewis do not form part of the cost of credit of any
  credit agreement between Lewis and its customers;

• The Act provides that Lewis may include the cost of an extended warranty as part of its
  fees and charges in its credit agreements with consumers and does not prescribe the
  terms and conditions of the extended warranty offered by Lewis to its customers.

On 28 June 2017, the NCR filed a notice of appeal to the ruling and the appeal was heard
on 17 April 2018 in the High Court of South Africa (Gauteng Division).

Shareholders are advised that today, 30th April 2018, the High Court handed down judgment
in Lewis’ favour with regard to the appeal by the NCR. The matter was dismissed with costs
against the NCR.

A copy of the judgment can be requested from Ms Diane Rafferty by email on
diane.rafferty@lewisgroup.co.za.




Cape Town
02 May 2018
Debt sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

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