PSV HOLDINGS LIMITED - Update on PSV Business Rescue Plan
Update on PSV Business Rescue Plan
PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
(“PSV” or “the Company” or “the Group”)
UPDATE ON PSV BUSINESS RESCUE PLAN
Shareholders are referred to the announcement released on SENS on Wednesday,
29 July 2020 in which they were advised that the meeting convened in accordance
with section 151 of the Companies Act, 71 of 2008 (“Companies Act”) (“section 151
meeting”) had been adjourned to 12h00 on Tuesday, 11 August 2020.
Shareholders are advised that at the reconvened section 151 meeting, a motion to
further adjourn the meeting was proposed and approved in accordance with the
provisions of section 151(3) of the Companies Act and the meeting was duly
adjourned to 12h00 on Friday, 14 August 2020.
The adjournment was requested due to the postponement of the urgent Court
application (“the Application”), scheduled for 13 August 2020, to place the
Company’s main trading subsidiary, PSV Industrial (Pty) Ltd (“PSVI”) in business rescue
in terms of section 131 of the Companies Act. The Application was necessary as there
is a pending liquidation application against PSVI.
Johannesburg
13 August 2020
Designated Advisor
AcaciaCap Advisors (Pty) Ltd
Date: 13-08-2020 11:49:00
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