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Business Rescue and Renewal of Cautionary
PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
(“PSV” or “the Company”)
BUSINESS RESCUE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on 26 February 2020 wherein it was
advised that the Board would be monitoring the financial position of the PSV group and would be
engaging with key stakeholders, including lenders and creditors of the PSV group.
After careful consideration, the Board of PSV has resolved that the Company is in financial distress
and has been put into business rescue. A Business Rescue Practitioner will be appointed in due
course.
Furthermore, Standard Bank has attached PSV Industrial customer accounts in terms of an
arrangement entered into in 2015. Accordingly, the directors of PSV Industrial, a wholly owned
subsidiary of PSV, have also resolved to place PSV Industrial into Business Rescue.
Initiatives to recapitalise and turn the business around are ongoing as there appears to be a
reasonable prospect of rescuing the Company and its subsidiary. The Company will work with the
Business Rescue Practitioner to achieve these objectives.
RENEWAL OF CAUTIONARY ANNOUNCEMENT
In the light of the aforementioned, shareholders are advised to continue to exercise caution when
dealing in the Company’s securities until a further announcement is made.
By order of the Board
Johannesburg
16 March 2020
Designated Advisor
Arbor Capital Sponsors
Date: 16-03-2020 10:45:00
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