Unbundling Of Capitec Shareholding – Prudential Authority Approval
 
 
PSG GROUP LIMITED
 
(Incorporated in the Republic of South Africa)
 
(Registration number: 1970/008484/06)
 
JSE Limited (“JSE”) share code: PSG
 
ISIN code: ZAE000013017
 
LEI code: 378900CD0BEE79F35A34
 
(“PSG Group” or “the Company”)
 
 
UNBUNDLING OF CAPITEC SHAREHOLDING – PRUDENTIAL AUTHORITY APPROVAL
 
 
Shareholders are referred to the Company’s various Stock Exchange News Service (“SENS”)
 
announcements regarding the intended distribution by PSG Group of shares in Capitec Bank
 
Holdings Limited (“Capitec”), comprising approximately 28.11% of Capitec’s total issued
 
ordinary share capital, to PSG Group ordinary shareholders by way of a pro rata distribution
 
in specie (“PSG Group Unbundling”), as well as to the Company’s circular in this regard,
 
dated 1 July 2020 (“Circular”).
 
 
As indicated in the Company’s SENS announcement dated 27 May 2020 and in the Circular,
 
the PSG Group Unbundling is subject to the fulfilment of various conditions precedent,
 
including the condition that the Prudential Authority grants the requisite approval of the PSG
 
Group Unbundling, pursuant to the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)
 
and, to the extent applicable, the Banks Act, 1990 (Act No. 94 of 1990) (“Prudential Authority
 
Approval”), on terms and conditions acceptable to PSG Group.
 
 
Shareholders are advised that the requisite Prudential Authority Approval was granted on
 
7 July 2020 and that the abovementioned condition precedent to the PSG Group Unbundling,
 
as set out in paragraph 4.4.1.1.8 of the Circular, has therefore been fulfilled.
 
 
The PSG Group Unbundling remains subject to fulfilment of the remaining conditions
 
precedent detailed in the Circular, including receipt of the requisite PSG Group shareholder
 
approval.
 
 
Stellenbosch
 
8 July 2020
 
 
Transaction Advisor and Sponsor Legal Advisor as to South African law
 
PSG Capital Proprietary Limited Cliffe Dekker Hofmeyr Incorporated
 
 
Independent Sponsor
 
UBS South Africa Proprietary Limited
 
 
Date: 08-07-2020 12:15:00
 
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