Update on PSV Asset Company Proprietary Limited ("PSVA")
Update on PSV Asset Company Proprietary Limited ("PSVA") 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”) UPDATE ON PSV ASSET COMPANY PROPRIETARY LIMITED (“PSVA”) Shareholders are referred to the previous announcements published on SENS, the last of which was dated 4 May 2021, in which they were advised, inter alia, that PSVA, which company held the plant and equipment of the PSV Group, had been placed into business rescue. Shareholders are advised that The Business Rescue Practitioners published a draft business rescue plan (“the plan”) and in terms of the Companies Act section 143 and 151 meetings held on 6 May 2021, the plan was approved by 100% of the creditors who voted on the plan, which vote included the required level of 50% of independent creditors. The Business Rescue Practitioner’s proposed fees were approved by the requisite majority of creditors. PSVA has ceased trading and once the proceeds of the assets sold on public auction, are distributed in terms of the plan, the Business Rescue Practitioners will file for substantial completion at CIPC. Johannesburg 14 May 2021 Designated Advisor AcaciaCap Advisors Proprietary Limited Date: 14-05-2021 12:19:00 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.