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PRESCIENT LIMITED - Stellar Capital / Prescient - Joint cautionary announcement

Release Date: 19/04/2016 12:00
Code(s): PCT SCP     PDF:  
Wrap Text
Stellar Capital / Prescient - Joint cautionary announcement

STELLAR CAPITAL PARTNERS LIMITED                    PRESCIENT LIMITED
(Incorporated in the Republic of South Africa)      (Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)                (Registration number 1936/008278/06)
(“Stellar Capital”)                                 (“Prescient”)
Share code: SCP                                     Share code: PCT
ISIN: ZAE000198586                                  ISIN: ZAE000163531

JOINT CAUTIONARY ANNOUNCEMENT

Shareholders of Stellar Capital and Prescient are advised that Stellar Capital and Prescient have
entered into exclusive discussions regarding a potential transaction (the “Proposed Transaction”) in
respect of Prescient’s financial services operations (“PFH” or the “Business”).

The Proposed Transaction will be facilitated by Stellar Capital and includes three primary, inter-
conditional steps:
   1. The unbundling of PFH to Prescient’s shareholders;
   2. The introduction of a significant black economic empowerment (“BEE”) shareholder to PFH;
      and
   3. A strategic investment by Stellar Capital in PFH via the acquisition of shares from Prescient’s
      shareholders who wish to exit their PFH holding gained as a result of the unbundling.

The management team of PFH will remain invested in the Business following the Proposed
Transaction.

The Proposed Transaction, if successfully concluded, may have a material effect on the prices of
Stellar Capital’s and Prescient’s shares. Accordingly, shareholders of Stellar Capital and Prescient
are advised to exercise caution when dealing in Stellar Capital’s and Prescient’s shares, respectively,
until a further announcement is made.

Johannesburg                                        Cape Town
19 April 2016

Merchant bank and sponsor to Stellar Capital        Sponsor to Prescient
RAND MERCHANT BANK (A division of                   Bridge Capital Advisors Proprietary Limited
FirstRand Bank Limited)

Legal advisor to Stellar Capital
Cliffe Dekker Hofmeyr Incorporated

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