PSG Group Limited/PSG Financial Services Limited -
 
PSG Group’s Commentary On Viceroy’s Report On Capitec
 
 
PSG Group Limited
 
Incorporated in the Republic of South Africa
 
Registration number: 1970/008484/06
 
JSE Limited share code: PSG
 
ISIN code: ZAE000013017
 
(“PSG Group”)
 
 
PSG Financial Services Limited
 
Incorporated in the Republic of South Africa
 
Registration number: 1919/000478/06
 
JSE Limited share code: PGFP
 
ISIN code: ZAE000096079
 
 
PSG GROUP’S COMMENTARY ON VICEROY’S REPORT ON CAPITEC
 
 
PSG Group is the largest shareholder in Capitec with a 30.7%
 
interest. Capitec is also PSG Group’s largest investment. We
 
concur with Capitec management that the Viceroy report is on the
 
face of it filled with factual errors and misleading information
 
regarding Capitec. Please refer to the Capitec SENS
 
announcements released earlier today.
 
 
PSG Group fully supports the Capitec management team and
 
business model. Capitec’s corporate governance is undoubtedly
 
world class. Its continued transparency and ability to release
 
its audited year-end financial results within a month after the
 
reporting date, bear testimony thereto. Capitec continues to
 
follow a prudent approach to capital and liquidity management,
 
and to the granting of credit and related write-offs and
 
provisioning.
 
 
PSG Group is greatly concerned about Viceroy’s intentions with
 
and the way in which they published their report without prior
 
consultation with Capitec management to gain a proper
 
understanding of their business. Viceroy’s report contains
 
irresponsible statements creating unwarranted market turmoil.
 
PSG Group will consequently ensure that an investigation be
 
launched into such conduct, including trading in both PSG Group
 
and Capitec shares in the period leading up to the release of
 
Viceroy’s report.
 
 
30 January 2018
 
Stellenbosch
 
 
Sponsor
 
PSG Capital
 
 
Date: 30/01/2018 04:40:00 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.