PSG Group / PSG Financial Services / Arch Equity -
PSG ACH PGFP
PSG ACH PGFP
PSG Group / PSG Financial Services / Arch Equity - Resignation Of Director
PSG Group Limited
Registration number 1970/008484/06 JSE share code: PSG
ISIN code: ZAE000013017
("PSG Group")
and
PSG Financial Services Limited
Registration number 1919/000478/06 JSE Share code: PGFP
ISIN code: ZAE000060166
("PSG Financial Services")
and
Arch Equity Limited
Registration number 2004/004019/06 JSE Share code: ACH
ISIN code: ZAE000061073
("Arch Equity")
RESIGNATION OF DIRECTOR
PSG Capital is authorised to announce that, following the approval by the High
Court of South Africa (Cape of Good Hope Provincial Division) on 1 August 2006
of the merger between Arch Equity and PSG Group, Arch Equity will be delisted on
15 August 2006 and the cross shareholding eliminated as set out in the circulars
to PSG Group and Arch Equity shareholders. After the merger Arch Equity
Investment Holdings (Pty) Limited ("Arch Equity Investment Holdings") will be
the unlisted BEE vehicle owned 49,9% by PSG Financial Services and 50,1% by BEE
shareholders.
PSG Group, PSG Financial Services and Arch Equity have therefore accepted Mr
Desmond Lockey"s resignation as director, effective on 4 August 2006 in respect
of PSG Group and PSG Financial Services. His resignation as a director of Arch
Equity and Arch Equity Investment Holdings and any of its subsidiaries will,
however only be effective from 1 September 2006.
Mr Lockey will retain his shareholding in PSG Group but will transfer his
approximately 17,5% shareholding in Arch Equity Investment Holdings (new
unlisted entity) to a new BEE party to be identified by its shareholders. A new
chairman for Arch Equity Investment Holdings will be appointed in due course. No
changes will be effected on a management level in the interim.
The boards of PSG and Arch Equity express its appreciation to Mr Lockey for his
contribution as director over the past two years and wish him well with his
future endeavours.
Stellenbosch
7 August 2006
Sponsor to PSG Group and designated advisor to Arch Equity
PSG Capital Limited
Date: 08/08/2006 07:09:06 AM Produced by the JSE SENS Department
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