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Renewal of Cautionary Announcement
PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
(“PSV” or “the Company” or “the Group”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the previous renewal of cautionary announcements, the last
of which was dated 29 December 2020, in which they were advised, inter alia, that the
Company and PSV Asset Company (Pty) Ltd, which company holds the plant and
equipment of the PSV Group, had been placed into business rescue (“business rescue
process”); that the Company’s main trading subsidiary, PSV Industrial (Pty) Limited
(“PSVI”) had been liquidated and that DNG Energy Limited (“DNG”), a material
shareholder in and related party to the Company, has made various representations to
the Business Rescue Practitioners (“BRPs”) and the Board regarding the potential
recapitalisation of PSV by DNG, which recapitalisation is key to enabling the audit for the
year ended 29 February 2020 to proceed.
The Company has been advised that DNG has submitted a revised proposal for the
recapitalisation of the Company (“Recapitalisation Proposal”) to the BRPs and that the
Recapitalisation Proposal has been forwarded to the largest creditor and shareholder in
PSV, Regis Holdings Limited (“Regis”) for its consideration as the proposed recapitalisation
will only be able to proceed with the support of Regis. The BRPs are currently awaiting
Regis’ response to the Recapitalisation Proposal and proof of funds in support of the
Recapitalisation Proposal from DNG.
Shareholders are advised to continue to exercise caution when dealing in the Company’s
securities until such time as further announcements relating to the business rescue process
and the recapitalisation of the Company have been made.
Johannesburg
10 February 2021
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 10-02-2021 04:38:00
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