US PLUS LIMITED - Availability of AFS for the Year Ended 28 February 2022 and Updates to the Information Statement

Availability of AFS for the Year Ended 28 February 2022 and Updates to the Information Statement

Us Plus Limited
(Incorporated with limited liability in South Africa under registration number 2014/048709/06)
Alpha Code: USPI
(“UsPlus” or “the Issuer” or “the Company”)


AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
AND UPDATES TO THE INFORMATION STATEMENT


1. AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS


It is hereby advised that the audited annual financial statements of Us Plus for the year ended 28 February
2022 (“AFS 2022”), including the unqualified audit report of PKF Octagon Incorporated, the Issuer’s registered
auditors, are available for inspection at the registered office of the Issuer and on the Issuer’s website at:

https://www.usplus.world/financial-results/

In accordance with paragraph 6.21 of the JSE Debt Listings Requirements, noteholders are advised that, as
set out in note 31 of the AFS 2022, relating to certain prior period errors, resulted in the restatement of certain
figures in the Statement of Cash Flows. The restatements are a better reflection of the nature of cash flows.
The effect of the restatements had no impact on the profit related to the prior period and were adjusted in line
with one of the focus areas identified in the latest Proactive Monitoring Report of the JSE Limited.


2. UPDATES TO THE INFORMATION STATEMENT

UsPlus has updated the Information Statement which is incorporated by reference into the UsPlus Limited
ZAR1,000,000,000 Domestic Medium Term Note Programme by:

    -   incorporating updated information relating to the key risks relating to the Issuer and its business,
        including a section on Covid-19 and how the recent Covid-19 pandemic impacts the Issuer’s
        business, results of operations and financial condition;
    -   updating the gross and net asset figures for UsPlus as at 28 February 2022;
    -   updating the business allocation from main products, as determined by value disbursed, for the year
        ended 28 February 2022;
    -   including updated information in respect of the Issuer’s primary assets as at 28 February 2022;
    -   updating the information relating to the Dollar Facility, including the partial repayment thereof. The latest
        information regarding the forward foreign exchange contract and the extension thereof, together with
        information regarding the new Rand Facility has also been included;
    -   updating the reverse factoring paragraph, reflecting one exception to ceasing this form of finance;
    -   updating the section referring to ownership, regarding shareholding of the Issuer and equity capital
        raised;
    -   updating the Risk Management section, regarding the policies of the Risk Committee; and
    -   incorporating updates to the directorships of certain directors.

The amended Information Statement is available for viewing or download from the following website:

https://www.usplus.world/bond-issuance/


Johannesburg
14 April 2022

Debt Sponsor
Merchantec Capital

Date: 14-04-2022 04:50:00
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