PSV
PSV
PSV - PSV Holdings Limited - Successful conclusion of BEE transaction
PSV Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/004365/06)
(JSE code: PSV & ISIN: ZAE000078705
("PSV" or "the Group")
SUCCESSFUL CONCLUSION OF BEE TRANSACTION
The Black Economic Empowerment ("BEE") transaction between PSV Holdings
Limited ("PSV") and Vunani Capital (Proprietary) Limited ("Vunani") was signed
on 24 May 2007, whereby Vunani will become PSV`s 25.67% BEE partner. The
transaction was unanimously approved by shareholders at a shareholders meeting
held on 2 August 2007 as previously announced.
As announced on SENS on 29 May 2007, the sale of shares to Vunani by Messrs da
Silva, Robinson and Dreisenstock, the main shareholders in PSV, who are also
directors in PSV, is now unconditional.
PSV focuses on the provision of flow control products, services and
electromechanical solutions to the mining, petrochemical and water and waste
management sectors in South Africa and in Africa. The company emphasised the
importance of an empowerment partner for its operations in South Africa and
was actively pursuing this objective.
As part of the agreement, Ms Evelyn Chimombe-Munyoro was appointed as non-
executive director and chairperson of the board. Ethan Dube will serve as
alternate non-executive director to Ms Chimombe-Munyoro.
6 August 2007
Johannesburg
Designated Adviser
Exchange Sponsors
Date: 06/08/2007 12:28:27 Produced by the JSE SENS Department.
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