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Johannesburg - Financial services provider PSG Group (PSG)
on Thursday announced an internal restructuring procedure whereby its
subsidiary, Paladin Capital would list on the AltX exchange of the JSE on
about August 28.
Paladin is PSG Group's preferred investment vehicle. An internal
corporate restructuring was required to ensure that Paladin could list on
the JSE, to accommodate the entry of new shareholders in a listed
environment and facilitate future capital raisings by the company, PSG said.
Following the listing of Paladin on AltX, it is intended that the group
will proceed with a renounceable rights offer in terms of which it will seek
to raise approximately R150m.
PSG Group has been mandated to manage the business of Paladin.
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