US PLUS LIMITED - UsPlus: Updates to the Information Statement

UsPlus: Updates to the Information Statement

Us Plus Limited
(Incorporated with limited liability in South Africa under registration number 2014/048709/06)
Alpha Code: USPI
("UsPlus")


UPDATES TO THE INFORMATION STATEMENT


UsPlus has updated the Information Statement which is incorporated by reference into the UsPlus Limited
ZAR1,000,000,000 Domestic Medium Term Note Programme by:

-   removing reference to Covid-19 as a key risk relating to the Issuer and its business and updating the
    economic and political challenges in South Africa which may affect business;

-   noting that as at the Information Date, 39% of UsPlus' assets have been ceded as security for the debt
    financing made available to UsPlus, as well as cessions over certain bank accounts. The stated objective
    is to reduce this ratio to below 20%;

-   removing reference to reverse factoring, which form of finance has been discontinued;

-   updating the Issuer's primary asset percentage allocation as at 29 February 2024;

-   referring investors to the most recent Annual Financial Statements for information regarding the equity
    base of UsPlus, its debt funding, as well as the covenants and security provided in respect of such debt
    funding as at 29 February 2024;

-   extending the assessment criteria to be performed on potential clients and transactions greater than
    R50 000;

-   updating the section referring to ownership, regarding shareholding of the Issuer;

-   incorporating updates to the directorships of certain directors; and

-   updating the Transfer Agent, Calculation Agent and Issuer Agent contact person.

The amended Information Statement is available for viewing or download from the following website:

https://www.usplus.world/bond-issuance/


Johannesburg
7 May 2024

Debt Sponsor
Merchantec Capital

Date: 07-05-2024 03:15:00
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