PSV HOLDINGS LIMITED - Update on Broad-Based Black Economic Empowerment

Update on Broad-Based Black Economic Empowerment

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

UPDATE ON BROAD-BASED BLACK ECONOMIC EMPOWERMENT

Further to the Broad-Based Black Economic Empowerment Transaction and Withdrawal of Cautionary
Announcement dated 18 September 2018 (and using the terms defined therein unless otherwise stated),
shareholders are advised that PSV and its wholly-owned subsidiaries PSV Industrial and PSV Asset Co, have
terminated the Agreement with Beryl in respect of the B-BBEE Transaction following non-payment of the
R5 million subscription price due by Beryl.

In order to achieve PSV’s B-BBEE objectives, the board has resolved to sell a percentage of PSV Industrial to
a Broad-Based Ownership Scheme to establish an education trust. This sale will be structured to address
broad-based ownership for the operating entities of the Group.

Johannesburg
9 July 2019

Designated Adviser
Merchantec Capital

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