PSG KONSULT LIMITED - Voluntary Announcement Completion Of Acquisition Of The Commercial And Industrial Insurance Brokerage Business Of

Release Date: 28/05/2018 11:15
Code(s): KST
 
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Voluntary Announcement – Completion Of Acquisition Of The Commercial And Industrial Insurance Brokerage Business Of

PSG Konsult Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1993/003941/06
JSE Share Code: KST
NSX Share Code: KFS
ISIN Code: ZAE000191417
(“PSG Konsult”)

VOLUNTARY ANNOUNCEMENT – COMPLETION OF ACQUISITION OF THE COMMERCIAL AND INDUSTRIAL
INSURANCE BROKERAGE BUSINESS OF ABSA INSURANCE AND FINANCIAL ADVISERS PROPRIETARY
LIMITED (“AIFA”)

As communicated on 26 September 2017, PSG Konsult concluded an agreement to acquire AIFA’s
commercial and industrial insurance brokerage business.

PSG is pleased to announce that all conditions precedent to the transaction have been fulfilled, and the
transaction will be effective 1 June 2018.

The acquired business is made up of 82 advisers and in excess of 31 000 clients, that will integrate into
the PSG Konsult distribution network of PSG Insure advisers. This transaction will enhance PSG Insure’s
footprint across South Africa.

The acquisition falls below the threshold of the categorisation of transactions which require disclosure in
terms of the JSE Listings Requirements. Nevertheless, the Board of PSG Konsult deemed it appropriate to
update shareholders on the outcome of the acquisition in the interests of full transparency.

Tyger Valley
28 May 2018

JSE sponsor and transaction advisor: PSG Capital Proprietary Limited
NSX sponsor: PSG Wealth Management (Namibia) Proprietary Limited, member of the Namibian Stock
Exchange

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