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 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
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
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').
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