PSV HOLDINGS LIMITED - Appointment of Business Rescue Practitioners, Advice of Further Legal Proceedings and Renewal of Cautionary

Appointment of Business Rescue Practitioners, Advice of Further Legal Proceedings and Renewal of Cautionary

PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
(“PSV” or “the Company”)


APPOINTMENT OF BUSINESS RESCUE PRACTITIONERS, ADVICE OF FURTHER LEGAL
PROCEEDINGS AND RENEWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the announcement released on 16 March 2020 wherein
shareholders were advised that the Board of the Company had resolved to put the
Company into business rescue.

Shareholders are advised that the Board of the Company has appointed Peter Gordon of
Crest Gordon Consulting Proprietary Limited trading as Crest Capital and Ian Fleming of
Engaged Business Turnaround as joint Business Rescue Practitioners (“BRPs”) of the
Company. In addition, PSV Industrial Proprietary Limited (“PSVI”) has also resolved to
appoint the same BRPs, subject to the withdrawal of three recently received applications
for the liquidation of PSVI as follows:

- Notice of Motion by JVZ Construction Proprietary Limited for an amount of R157 636.48;
- Notice of Motion by Erf 200 City Deep Proprietary Limited for an amount of R324 995.08;
  and
- Notice of Motion by Erf 200 City Deep Proprietary Limited for an amount of
  R3 276 377.08

The Board will continue to keep shareholders abreast of the business rescue process as
and when needed.

Shareholders are advised to continue to exercise caution when dealing in the Company’s
securities.

By order of the Board
Johannesburg
19 March 2020

Designated Advisor
Arbor Capital Sponsors

Date: 19-03-2020 05:35:00
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