TOTAL CLIENT SERVICES LIMITED - Quarterly Progress Report

Quarterly Progress Report

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”)


QUARTERLY PROGRESS REPORT


In terms of paragraph 1.10(c) of the JSE Listings Requirements pertaining to the continuing obligations of
suspended companies, shareholders are hereby provided with a quarterly progress report on the current
state of affairs of the Company.

The rectification of all outstanding compliance matters remains a priority for the Company and the
completion and release of all outstanding financial statements are the most important area of focus.

The Company made sufficient progress to enable the auditors to complete the audit process and the
Company submitted the annual financial statements for 2014, 2015 and 2016 to the JSE in September
2017. The Company and the auditors focussed their attention on completion of the 2017 annual financial
statements, as well as the interim results for 2018. The audit process started in November 2017 and the
results will be released as soon as possible.

Once all the annual financial statements and the annual reports have been published and distributed, as
the case may be, the Company will attend to the necessary shareholder general meetings to, inter alia,
ratify the annual financial statements.

Certain aspects of the aforementioned processes still remain uncertain and beyond the Company’s
control, and thus the Board has to take a realistic view on the timing of the aforementioned shareholder
meetings. The Board therefore expects the shareholders meetings to be scheduled and concluded during
the first quarter of 2018.

Operational update

The operational focus remains on improving performance and creating a stable and sustainable business.
The Company is constantly increasing and adjusting its marketing activities to raise awareness of its
products and services. The focus is not only on traditional government clients, but also on potential
applications in the private sector.



Centurion
29 December 2017


Designated Adviser
Merchantec Capital

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