PSV HOLDINGS LIMITED - Update on the Liquidation of PSV Industrial, Placing of PSV Asset Company into Business Rescue & Cautionary Renewal

Update on the Liquidation of PSV Industrial, Placing of PSV Asset Company into Business Rescue & Cautionary Renewal

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 THE LIQUIDATION OF PSV INDUSTRIAL (PTY) LTD, PLACING OF PSV ASSET COMPANY
(PTY) LTD INTO BUSINESS RESCUE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the announcement published on SENS on 19 August 2020 in which
they were advised of the liquidation of the Company’s main trading subsidiary, PSV Industrial
(Pty) Ltd (“PSVI”) and that DNG Energy (Pty) Ltd (“DNG Energy”), a material shareholder in PSV,
and, together with the second applicant, Mr Aldworth Mbalati, a related party to PSV in terms
of the JSE Listings Requirements, would be appealing the dismissal of the application to have
PSVI placed under Business Rescue.

Shareholders are advised that DNG Energy was advised that its appeal was unlikely to be
successful and has accordingly decided to forego its appeal. PSVI is accordingly in the
process of being liquidated.

Shareholders are further advised that PSV Asset Company (Pty) Ltd, which company holds the
plant and equipment of the PSV Group, has been placed into business rescue by the PSV
business rescue practitioners.

Renewal of Cautionary Announcement
Shareholders are advised to continue to exercise caution when dealing in the Company’s
securities until such time as further announcements relating to the business rescue process
have been made.

Johannesburg
1 October 2020

Designated Advisor
AcaciaCap Advisors (Pty) Ltd

Date: 02-10-2020 07:05:00
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