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Renewal of Cautionary Announcement - Update
PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“the Company”)
ISIN Code: ZAE000222949 JSE Code: PEM
RENEWAL OF CAUTIONARY ANNOUNCEMENT - UPDATE
Shareholders are referred to the cautionary announcement which was published on SENS
on 3 September 2019, and are hereby advised that the Company is no longer considering
the two formal offers they received for an equity investment to fund the growth and
expansion aspirations of the Company due to the one party having committed funding
elsewhere and the other offer being to buy out the schools business and property portfolio,
which is not in line with the group strategy of remaining listed and growing the schools
business.
As previously announced, the Company was also approached by a number of other
parties with whom discussions are in different stages. The Board has recently appointed an
Investment Committee to assess and progress a transaction. In addition, the Company is
engaging with financial institutions for asset based finance due to the property portfolio
being ungeared and the schools business now being profitable as per the segmental
information as previously published on SENS.
The outcome of the aforementioned discussions may have a material effect on the price
of the Company’s securities. Accordingly, shareholders are advised to exercise caution
when dealing in the Company’s securities until a further announcement is made.
Johannesburg
16 September 2019
Designated Advisor
Arbor Capital Sponsors
Date: 16/09/2019 03:40:00
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