PSG Group Ltd (JSE:PSG) agreed to spin-off 61.1% stake in PSG Konsult Limited (JSE : KST) for ZAR 11.1 billion on March 1, 2022. As per the transaction, 810 million ordinary shares with no par value in the issued share capital of PSG Konsult Limited, comprising approximately 61.1 percent of the total issued share capital of PSG Konsult, will be distributed in the ratio of 3.86921 PSG Konsult Shares for every PSG Group Share held. Spin-off remains subject to conditions precedent customary for transactions of this nature, including PSG Group obtaining the necessary regulatory and shareholder approvals.

Spin-off remains subject to conditions precedent customary for transactions of this nature, including PSG Group obtaining the necessary regulatory, court and shareholder approvals. Transaction has been approved by the board and shareholders of PSG Group. Competition Authorities approved the PSG Group Restructuring on August 2, 2022.

Transaction is expected to close on September 12, 2022. PSG Capital (Pty) Limited acted as financial advisor for a fee of ZAR 15 million, Goodwin Procter LLP and Cliffe Dekker Hofmeyr acted as legal advisor for a fee of ZAR 0.4 million and ZAR 2.9 million respectively, BDO Corporate Finance Proprietary Limited acted as independent expert for a fee of ZAR 0.8 million and Computershare Investor Services (Proprietary) Limited acted as transfer agent for a fee of ZAR 0.1 million to PSG Group.