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Quarterly Update on Suspension Announcement
PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
("the Company")
QUARTERLY UPDATE ON SUSPENSION ANNOUNCEMENT
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 its suspension is lifted.
Further to the previous quarterly update announcements, the last of which was dated
26 March 2025, shareholders are advised that the consideration of the recapitalisation of
the Company is still ongoing.
A provisional liquidator was appointed who reached out to DNG Energy Limited's
(DNG's) legal counsel to discuss a proposal. These discussions are ongoing and financial
information requested from the liquidator.
DNG has since met with the JSE to discuss the way forward after meeting with the
provisional liquidator and background documentation has been provided to the JSE by
the Designated Advisor. There have been further engagements with the liquidator during
May and June 2025. Subsequently, DNG made a proposal to the liquidator to take the
business out of provisional liquidation. The liquidator has since requested a motivated
Section 155 scheme of arrangement, which will be prepared.
The Company remains aware that any proposed recapitalisation of the Company will
need to comply with the JSE Listings Requirements and Takeover Regulations, where
applicable.
Shareholders are also reminded that the Company remains under cautionary and will
continue to inform shareholders of the progress in this regard.
Johannesburg
30 June 2025
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 30-06-2025 03:27:00
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