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
VOLUNTARY ANNOUNCEMENT – COMPLETION OF ACQUISITION OF THE COMMERCIAL AND INDUSTRIAL
INSURANCE BROKERAGE BUSINESS OF ABSA INSURANCE AND FINANCIAL ADVISERS PROPRIETARY
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.
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
Date: 28/05/2018 11:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Email this JSE Sens Item to a Friend.