THE FOSCHINI GROUP LIMITED - Voluntary announcement in relation to RCS
TFG TFGP 201306210043A
Voluntary announcement in relation to RCS
THE FOSCHINI GROUP LIMITED (“Company”)
Reg. No.: 1937/009504/06
Code: TFG
ISIN: ZAE000148466
VOLUNTARY ANNOUNCEMENT IN RELATION TO RCS
TFG refers to its market commentary regarding its intention
to reduce its shareholding in its 55% held subsidiary, RCS
Investment Holdings Proprietary Limited (“RCS”), to below
50% via either a separate listing or sale.
In this regard the RCS shareholders have been through a
thorough process to assess the various alternatives with
regards to achieving TFG’s stated intention for RCS.
Following this process and taking into consideration the
current state of the consumer credit market and the
sentiment surrounding consumer lending businesses, the RCS
shareholders have concluded that the timing is not conducive
to realising fair value for RCS and, accordingly, have
decided to terminate the process.
The RCS business continues to perform well despite
challenging market conditions and the RCS shareholders
believe it will continue to contribute favorably to overall
financial performance.
Cape Town
21 June 2013
SPONSOR
UBS South Africa (Pty) Ltd
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