PSV HOLDINGS LIMITED - Restatement of Financial Information and Trading Statement

Restatement of Financial Information and Trading Statement

PSV HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
("PSV")


RESTATEMENT OF FINANCIAL INFORMATION AND TRADING STATEMENT


RESTATEMENT OF FINANCIAL INFORMATION

The financial results for the year ended 28 February 2015 have been restated as a result of the sale of
Turbo Zambia and the closing of Turbo DRC (hereinafter referred to as the “discontinued operations”).

As a result of the discontinued operations, the effect on the financial results for the year ended
28 February 2015 are as follows:

                                                                          As previously
                                                                        re-presented on      Percentage
                                                   Restated amount      2 November 2015          change
 Net asset value per share (cents)                           27.64                27.64            nil%
 Net tangible asset value per share (cents)                  14.04                14.04            nil%
 Basic loss per share (cents)                              (10.31)              (10.31)            nil%
 Basic loss per share (cents) – continuing
 operations                                                 (8.58)              (10.98)           21.9%
 Headline loss per share (cents)                            (9.11)               (9.11)            nil%
 Headline loss per share (cents) –
 continuing operations                                      (7.96)               (9.78)           18.6%
 Diluted loss per share (cents)                            (10.25)              (10.25)            nil%
 Diluted earnings/(loss) per share (cents) –
 continuing operations                                      (8.54)                 0.67       (1 374.6%)
 Diluted headline loss per share (cents)                    (9.06)               (9.06)            nil%
 Diluted headline loss per share (cents) –
 continuing operations                                      (7.91)               (9.73)           18.7%


TRADING STATEMENT

In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to be
reported on will differ by more than 20% from that of the previous corresponding period.

Accordingly, a review of the financial results for the year ended 29 February 2016 by management has
indicated that:

-   the loss per share is expected to be between 16.40 cents and 14.34 cents, reflecting an increase in
    the loss of between 59.1% and 39.1%;

-   the headline loss per share is expected to be between 9.11 cents and 7.29 cents, reflecting a
    decrease in the loss of between 0% and 20.0%;

-   the basic loss per share from continuing operations is expected to be between 8.19 cents and 6.47
    cents, reflecting a decrease in the loss of between 4.6% and 24.6%; and

-   the headline loss per share from continuing operations is expected to be between 3.75 cents and
    2.15 cents, reflecting a decrease in the loss of between 52.9% and 72.9%;

compared to the basic loss per share of 10.31 cents; the basic headline loss per share of 9.11 cents; the
basic loss per share from continuing operations of 8.58 cents and the headline loss per share from
continuing operations of 7.96 cents for the for the year ended 28 February 2015.

The financial information on which this trading statement is based has not been reviewed or reported on
by PSV’s auditors. PSV's audited financial results are expected to be released on SENS on or about
31 May 2016.


Johannesburg
25 May 2016

Designated Advisor
Merchantec Capital

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