Quarterly Suspension Update
Quarterly Suspension Update PSV Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/004365/06) Share code: PSV ISIN: ZAE000078705 (“PSV” or “the Company” or “the Group”) QUARTERLY SUSPENSION UPDATE In terms of paragraph 1.11(c) of the JSE Listings Requirements, the Company is required to provide an update to shareholders regarding the current state of affairs of the Company until the Suspension is lifted. The Company was suspended for the late publication of its results for the year ended 29 February 2020 and was placed into Business Rescue in March 2020. The Company has faced a number of challenges whilst attempts to rescue it continue to be made. The Business Rescue Practitioners (“BRPs”) published a plan which was dependent on the recapitalisation of PSV by one of its shareholders. DNG Energy Limited (“DNG”) provided proof of funding for the proposal presented to the BRPs on 25 February 2021which was forwarded to the major creditor and shareholder Regis Holdings Limited (“Regis”) (which shares have since been transferred to another group entity known as Drill Stem Testing International Limited) for its consideration as the proposed recapitalisation will only be able to proceed with the support of Regis. Shareholders are advised that a revised offer excluding the matters that concerned Regis was sent on 17 June 2021. A response has not been received to date. BRPs have followed up with Regis and will continue to press for a reply. The Board will continue to inform shareholders of the progress and shareholders are still required to exercise caution when dealing in the Company’s shares. Johannesburg 6 August 2021 Designated Advisor AcaciaCap Advisors Proprietary Limited Date: 06-08-2021 05:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.