Voluntary Announcement: PSG Alpha Invests in provider of Retirement Living
 
 
PSG Group Limited
 
Incorporated in the Republic of South Africa
 
Registration number: 1970/008484/06
 
JSE share code: PSG
 
ISIN code: ZAE000013017
 
(“PSG”)
 
 
VOLUNTARY ANNOUNCEMENT: PSG ALPHA INVESTS IN PROVIDER OF RETIREMENT LIVING
 
 
PSG is pleased to announce that PSG Alpha Investments Proprietary Limited
 
(“PSG Alpha”), a subsidiary of PSG, has acquired a 50% stake in Evergreen
 
Retirement Holdings Proprietary Limited (“Evergreen Lifestyle”), one of
 
South Africa’s leading providers of retirement living and a subsidiary of
 
Amdec Investments Proprietary Limited (“the Amdec Group”). The transaction
 
is subject to all regulatory approvals (to the extent required) being
 
obtained.
 
 
PSG Alpha’s investment into the retirement property sector marks a
 
significant new focus area for PSG. The investment will be R675 million,
 
one of the biggest initial cash investments by the PSG group to date.
 
 
PSG Alpha’s investment mandate is to invest in and work with businesses
 
that show high growth potential for the future. Evergreen Lifestyle meets
 
these criteria with its competitive advantage, intellectual capital and
 
deep-rooted expertise in the retirement property development sector, and is
 
ideally positioned to entrench and grow its position as one of the leading
 
providers in the retirement landscape in South Africa.
 
 
Evergreen Lifestyle’s offering stretches far beyond the stereotypical old-
 
age home with its hospital-like atmosphere and nursing-based approach to
 
care. Instead, their offering is a hospitality-based approach, with resort-
 
style facilities and amenities in all their villages. Evergreen Lifestyle’s
 
fundamental values and unwavering commitment to serve the aged community
 
will remain a key pillar going forward.
 
 
For PSG, a number of factors make this investment in Evergreen Lifestyle an
 
attractive company to invest in, mainly because it is one of the leading
 
retirement accommodation brands in South Africa and is backed by the
 
pioneering Amdec Group with its strong, proven track record.
 
 
The PSG Alpha investment brings together a major player in the financial
 
services sector and a leader on the national property front. It also
 
represents a long-term commitment by both parties: PSG, via its capital
 
investment and proven track record to assist growing new businesses, and
 
the Amdec Group through the construction, development and its knowledge of
 
the retirement sector. The aforesaid confirms both parties’ commitment to
 
invest in South Africa.
 
 
19 September 2017
 
Stellenbosch
 
 
 
Sponsor and Transaction Advisor
 
PSG Capital Proprietary Limited
 
 
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