UsPlus - Financial Covenants Notification
Us Plus Limited
Incorporated in the Republic of South Africa
(Registration number 2014/048709/06)
Stock Code: USPN01 ISIN Code: ZAG000210816
("UsPlus" or "the Issuer")
FINANCIAL COVENANTS NOTIFICATION
In accordance with clause 6.3 of Schedule 1 of the Applicable Pricing Supplement, holders of the USPN01 listed
notes are hereby advised that financial covenant requirements, as measured against the 12-month period ended
28 February 2025 ("Measurement Period"), are as follows:
At
Measuremen
Covenant Requirement Period1
Debt to Equity Ratio Must be less than 4 times 2.44
Interest Cover Ratio Must be at least 1.5 1.95
(Commencing after the elapse of a period of six
months after the Issue Date of the Notes, being
21 November 2024)
Largest exposure of the Issuer to a single client Must not exceed 15% of the Total 12%
(In respect of the Issuer's Current Financing Receivables
Products, and any new products)
Aggregate Receivables in respect of Purchase Must be less than 10% of the Total 2%
Orders Receivables from time to time
Unless expressly defined in this announcement, capitalised terms herein have the meaning ascribed to them in
the Applicable Pricing Supplements.
1Based on management accounts. Should the financial covenants differ following the finalisation of the audit
of Us Plus' annual financial statements, a further announcement will be published.
Johannesburg
24 March 2025
Debt Sponsor
Merchantec Capital
Date: 24-03-2025 05:10:00
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