PSV - PSV Holdings Limited - Results of the Annual General Meeting, the

PSV - PSV Holdings Limited - Results of the Annual General Meeting, the         
General Meeting and changes to the board                                        
PSV HOLDINGS LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/004365/06)                                            
JSE code: PSV                                                                   
ISIN: ZAE000078705                                                              
("PSV" or "the Company")                                                        
RESULTS OF THE ANNUAL GENERAL MEETING, THE GENERAL MEETING AND CHANGES          
TO THE BOARD                                                                    
RESULTS OF THE ANNUAL GENERAL MEETING                                           
PSV advises that, at the annual general meeting held today ("Thursday,          
29 September 2011"), ordinary resolutions numbers 1 and 2 and special           
resolution number 1 were not approved by the requisite majority of              
shareholders. All other resolutions set out in the notice of annual             
general meeting were passed by the requisite majority of shareholders.          
As a consequence of shareholders not approving the aforementioned               
resolutions:                                                                    
1.   Mrs Chimombe-Munyoro , Messrs MM Patel and GS Nzalo, the non-              
executive directors of the company, were not re-elected to the              
    board;                                                                      
2.   The Audit Committee was not elected; and                                   
3.   The proposed remuneration to be paid to non-executive directors            
for the ensuing year was not approved.                                      
Shareholders are advised that the board of directors will fill the              
vacancies of the audit committee within 40 business days as                     
contemplated in section 94(6) in the 2008 Companies Act.                        
RESULTS OF THE GENERAL MEETING                                                  
PSV advises that, at the general meeting of shareholders held today,            
all resolutions relating to the disposal of Group Line Projects                 
Proprietary Limited were approved by the requisite majority.                    
CHANGE TO THE BOARD                                                             
Further to the changes to the board set out above, PSV also advises the         
change of status of Mr DJ Kelly from executive director to non-                 
executive director effective from 30 September 2011.                            
Germiston                                                                       
29 September 2011                                                               
Designated Adviser                                                              
Vunani Corporate Finance                                                        
Date: 29/09/2011 13:51:01 Supplied by www.sharenet.co.za                     
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