Sharenet Sites 
Sharenet Sites
Renewal of Cautionary
PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PLG” or “the Company”)
ISIN Code: ZAE000222949 JSE Code: PEM
RENEWAL OF CAUTIONARY
Shareholders are referred to the previous cautionary announcements published on SENS, the last being
on 7 February 2023. Shareholders are advised that the following progress has been made to date:
Update on the School Rezoning and Registrations
Raslouw
The company received an updated Water Services Scheme Report and water layout drawing from the
water department for the engineer of City of Tshwane to comment and revert to the water department.
In the report it was noted that student numbers have been restricted to equal the existing water
demand/allocation for the two agricultural holdings. Provision has been made on site to store the
required fire water and it was clarified by the local fire engineer. The company await further comments
from the City of Tshwane engineer.
Carlswald
The company awaits City of Johannesburg to respond after the owner of the PLG Properties was notified
of the results that came after the Environmental Department’s inspection.
Willowview
The application for Umalusi was submitted in mid-January 2023. The school is working on ensuring that
Umalusi is accredited again, great progress has been made and awaiting the visit from Umalusi first week
of April 2023.
Springs
The school is currently in the process of applying for an EMIS extension to Grade 12. The Town Planner is
currently compiling all the necessary documents in order to commence with the zoning application.
Thereafter, the school will prioritise the Umalusi applications.
Verityhurst Proprietary Limited (“Verityhurst”) – convertible loan
Shareholders are advised that Verityhurst continues to provide funding for the renovations of schools
across the group and is glad to announce that following renovations at Willowview, the boarding at
Willowview has been reopened. Renovations at Raslouw are currently underway.
The company has further embarked on renovations of the Northriding property as well as the Modimolle
(Sanrock) property, with a schedule to accept registrations during the 3rd term of 2023, as both schools
are scheduled to commence operations from the beginning of the year 2024.
The Company continues to draw down funds from the Verityhurst loan of R25 million, which has assisted
the company thus far with the renovations and will continue to draw down more from the loan for further
renovations, creditor settlements and working capital.
Audits
The audit for 2019 has not yet commenced although an Audit and Risk Committee meeting was held
and the Company decided to focus on the audit of the property subsidiary, where the audit fee has
been settled in full. As a separate matter, the two new school subsidiaries will need to be prioritised to
enable tax clearance certificates to be obtained for the school registrations, namely Raslouw and
Carlswald.
The Company has made application for the extension for the various Annual Reports and Annual
General Meetings to the Companies Tribunal and the Company has been keeping CIPC informed on a
monthly basis.
Legal
The Company continues to engage with various claims and creditors on a case-by-case basis and in a
constructive manner, as each matter requires proper investigation. Certain matters will be defended
where there is no basis for the claim. Legal counsel is assisting in this regard.
In addition, it has been discovered that certain fraudulent documents appear to have been submitted
with the applications for school registrations some years ago for Raslouw and Carlswald. This matter has
been reported to various Department of Education officials and the Company has offered assistance in
any investigation.
Furthermore, following the SENS announcement issued on 8 November 2022, the allocation of the loan
between PLG and third parties has been finalised with around 67% of the loan not being received for
the benefit of PLG. This matter has been reported to CIPC and the JSE and a claim will be made to
recover the funds.
Other changes
There are a number of other changes to the Board and advisors, which will be announced separately.
Renewal of cautionary announcement
In light of the above information, shareholders are accordingly advised to continue to exercise caution
until a further announcement is made.
Johannesburg
28 March 2023
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 28-03-2023 03:00:00
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