PEMBURY LIFESTYLE GROUP LIMITED - Discontinuing of Retirement Villages
PEM 201906130005A
Discontinuing of Retirement Villages
PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
("the Company" or "Pembury")
ISIN Code: ZAE000222949 JSE Code: PEM
DISCONTINUING OF RETIREMENT VILLAGES
Following feedback from shareholders and potential funders, despite a recent
turnaround in the remaining villages following the recent restructure, the board has
taken a decision that the Retirement Villages segment does not fit with the long-term
strategy of the group to focus on growing and providing affordable, quality, private
education.
The board is currently evaluating various options to dispose of the individual villages.
This may also include a sale of one or more villages back to the original vendor,
Pembury Villages. Further announcements will be made in due course as and when
terms are agreed.
Accordingly, for the interim results ending 30 June 2019, the retirement villages
segment will be reflected as assets and liabilities held for sale and the results will be
reflected as discontinuing operations.
Johannesburg
13 June 2019
Designated Advisor
Arbor Capital Sponsors
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