TOTAL CLIENT SERVICES LIMITED - Business Rescue - Schedule 13 application

Business Rescue - Schedule 13 application

TOTAL CLIENT SERVICES LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/025018/06)
Share code: TCS ISIN: ZAE000116208
(“TCS” or the “Company”)


BUSINESS RESCUE - SCHEDULE 13 APPLICATION



Subsequent to the announcements released on SENS on 22 November 2013, 20 December 2013,
20 February 2014, 4 April 2014, 2 May 2014 and 19 May 2014 wherein shareholders were advised of the
Company undergoing business rescue proceedings, the appointment of a Business Rescue Practitioner
and the adoption of the Business Rescue Plan, shareholders are hereby advised that TCS has submitted
an application to the JSE Limited (“JSE”) in accordance with Schedule 13 of the JSE Listings
Requirements. Schedule 13 provides for a listed company, which is in severe financial difficulty, which has
no alternative but to issue shares for cash within a short time frame in order to meet its ongoing working
capital requirements or to reduce its liabilities, to seek dispensation from preparing a circular and obtaining
shareholder approval to affect such issue for cash.

As TCS is currently in severe financial difficulty and under business rescue, the Company submitted its
Schedule 13 application to the JSE to obtain the aforementioned dispensation to enable the Company to
raise capital through the issue of new shares, as set out in the Business Rescue Plan adopted on 19 May
2014.

Shareholders will be updated of further developments in this regard in due course.

Centurion
19 June 2014

Designated Adviser
Merchantec Capital

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