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ECSPONENT LIMITED - Ecsponent Financial Services Proprietary Limited: Withdrawal of licence and FSCA press release

Release Date: 05/06/2020 12:27
 
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Ecsponent Financial Services Proprietary Limited: Withdrawal of licence and FSCA press release

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
(“the Company” or “Ecsponent”)

ECSPONENT FINANCIAL SERVICES PROPRIETARY LIMITED: WITHDRAWAL OF LICENCE AND FINANCIAL SERVICES CONDUCT AUTHORITY PRESS RELEASE

Ordinary and preference shareholders of the Company (collectively, “Security Holders”) are referred to
the announcements released on SENS on 20 and 22 May 2020 relating to the non-routine investigation
conducted by the Financial Services Conduct Authority (“FSCA”) involving the Company’s subsidiary,
Ecsponent Financial Services Proprietary Limited (“EFS”).

The FSCA has finalised their investigation and a press release in this regard has been made available on the
FSCA’s website: https://www.fsca.co.za/Pages/Media-Releases.aspx.

Security Holders are now informed that the FSCA decided to withdraw the licence of EFS and impose an
administrative penalty of R3,000,000.

The FSCA’s investigation focused solely on the advice and intermediary activities of EFS and not those of
Ecsponent.

The Company advises Security Holders that EFS has, with effect from 11 February 2020, not provided
financial advice on any new business and the Company will resolve to unwind EFS.

5 June 2020
Pretoria

Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 05-06-2020 12:27:00
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