PSG KONSULT LIMITED - Acquisition Of The Commercial And Industrial Insurance Brokerage Business Of Absa Insurance And Financial Advisers P

KST 201709260014A<BR>
Acquisition Of The Commercial And Industrial Insurance Brokerage Business Of Absa Insurance And Financial Advisers P<BR>
<BR>
PSG Konsult Limited<BR>
(Incorporated in the Republic of South Africa)<BR>
Registration Number: 1993/003941/06<BR>
JSE Share Code: KST<BR>
NSX Share Code: KFS<BR>
ISIN Code: ZAE000191417<BR>
(“PSG Konsult”)<BR>
<BR>
VOLUNTARY ANNOUNCEMENT – ACQUISITION OF THE COMMERCIAL AND INDUSTRIAL<BR>
INSURANCE BROKERAGE BUSINESS OF ABSA INSURANCE AND FINANCIAL ADVISERS<BR>
PROPRIETARY LIMITED (“AIFA”)<BR>
<BR>
PSG Konsult has concluded an agreement to acquire AIFA's commercial<BR>
and industrial insurance brokerage business. This business is made up<BR>
of 102 advisers and in excess of 32 000 clients, that will, upon<BR>
fulfilment of conditions to the transaction, integrate into the PSG<BR>
Konsult distribution network of PSG Insure advisers.<BR>
<BR>
This transaction, which is subject to conditions typical for a<BR>
transaction of this nature including regulatory approvals, will be<BR>
funded from existing cash resources. The implementation of this<BR>
transaction will enhance PSG Insure's footprint across South Africa.<BR>
PSG Konsult's core focus remains organic growth.<BR>
<BR>
The acquisition falls below the threshold of the categorisation of<BR>
transactions which require disclosure in terms of the JSE Listings<BR>
Requirements. Nevertheless, the Board of PSG Konsult deemed it<BR>
appropriate to inform shareholders of the acquisition in the interests<BR>
of full transparency.<BR>
<BR>
Tyger Valley<BR>
26 September 2017<BR>
<BR>
JSE sponsor and transaction advisor: PSG Capital Proprietary Limited<BR>
NSX sponsor: PSG Wealth Management (Namibia) Proprietary Limited,<BR>
member of the Namibian Stock Exchange<BR>
<BR>
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