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PSV - renewal of cautionary
Further to the previous renewal of cautionary announcements, the last of which was dated 9 September 2025, shareholders were advised that the Company remains under provisional liquidation and the proposed recapitalisation of the Company referred to therein is still under consideration.
The Company remains aware that any corporate action will need to comply with the JSE Listings Requirements and Takeover Regulations, where applicable. The Company will continue to inform shareholders of the progress in this regard. A meeting has since been held between the liquidator and DNG Energy Limited's (DNG's) attorney and a separate meeting was held with the JSE to evaluate the prospects of the Company and a way forward.
As previously advised, DNG has met with the JSE to discuss the way forward after meeting with the provisional liquidator and background documentation has been provided to the JSE by the Designated Advisor. There have been further engagements with the liquidator during July to September 2025. Subsequently, DNG made a proposal to the liquidator to take the business out of provisional liquidation. The liquidator has since requested a motivated Section 155 scheme of arrangement, which is expected to be submitted during October 2025.
Accordingly, shareholders were advised to continue exercising caution when dealing in the Company's securities until a full announcement is made.
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