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SB45

Pembury Lifestyle Group (PEM)

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Anyone knows when the suspension will be lifted?

 

@ SB45 I wish I knew their plans mate, I really do. They know people are waiting to give them that "CHOPPIES" treatment, it's inevitable. Management has Zero credibility.

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@ SB45 I wish I knew their plans mate, I really do. They know people are waiting to give them that "CHOPPIES" treatment, it's inevitable. Management has Zero credibility.

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Presumably the request has been made together with supporting documentation for the suspension to be lifted and the decision is in the hands of the JSE.

Should the share price drop dramatically there will be a few eager buyers at bargain prices because it appears the equity holdings are substantial. Wait and see what happens. Should be interesting.

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Red, with these clowns ? I doubt it. They still owe us half year results. This company needs a major shake up, now they will even find it harder to ask shareholders for money to expand, which they will need to make this work but won’t admit yet

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Yes I agree asking for more money at this time is a no-brainer. We need some consistency and professionalism which appears to be sorely lacking unless they are playing some game.

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Does anyone have any infor on when the suspension will be lifted. PEM management is very hard yo get hold off

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I read their financial statements and it gave the impression that management are all over the place. I think I’m selling as soon as the suspension is lifted if the price is still decent . I don’t really trust the management any more.

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I am also dumping this one Slim...the opportunity cost a bit to high with the tied up cash with no direction. Might re-enter if management changes later on.

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On ‎10‎/‎21‎/‎2018 at 9:04 PM, LentilSoup said:

Has the suspension of Pembury been lifted?

Lentil your stop loss will let you know :classic_biggrin:

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AGM is tomorrow. Can't go but interested to see what transpires.

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Just a quick take on the AGM yesterday.

 

The AGM took place in a restaurant in Randburg, not really a conferencing setting, not well attended I would say. The place was noisy, restaurant staff moving and chatting, trucks passing by, one could hardly hear the topics discussed & answers given (1st half). Quite poor from my perspective. We could have even used one of their school halls to be honest, with a microphone and a speaker, they are a start up after all. No need to go fancy, but the quality could have been better. 

 

Questions asked for for me were not answered in a satisfactory and comforting manner. Issues of liquidity for example, as stated in the reports that the “going concern” topic is an issue.....Management + Directors could not answer how long the company will be able to go on with the cash they have in the bank or that they generate. In my books they are in over their heads. 

 

Concerning to me me was also the topic of the suspension, Management and directors do not know when the suspension will be lifted. When I called last week, I was told this any time this week, but did not happen.

 

Why concerning ? Well the CEO indicated they are not able to continue with the schools expansions due to the fact that they cannot raise capital as a result of this suspension. Then they shift the blame....it’s up to the JSE when the suspension will be lifted. They further more placed the blame on the previous Finance person that they appointed for the delay in results, trying to give comfort with the fact that the person is no longer with the company. In my books they didn’t take accountability at all. 

 

In in terms of regulatory understanding....zero....willingness to get up to speed, I did not see it. Shareholders in this company are taken for ****. Rookie mistakes point me to this conclusion. 

 

PEM is a great idea, with potential but being run by incapable management. I will salvage what I can if trading resumes....much more better opportunities in the market. One cent is coming for this one. Too many wrongs and they don’t know how to fix it and not willing to get help to do so. 

 

 

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PEM 201811050039A
Results of the Annual General Meeting ("AGM") and Change to the Board

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM


RESULTS OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGE TO THE BOARD


Shareholders are advised that the Company’s AGM was held on Thursday, 1 November 2018. Details of
the results of voting were as follows:

Total number of shares in issue at the date of the AGM:                                   400 587 500
Total number of shares represented at the AGM:                                            294 644 821
Total percentage of shares represented at the AGM:                                             73.55%

The resolutions proposed at the AGM, together with the percentage of votes carried for and against
each resolution, are set out below:

                                                                Number of votes
                                                                             For       Against          Abstain     Total Votes
                                                                              %             %     (% of issued      (excluding
                                                                                                     share capital)    abstentions)
Ordinary Resolution Number 1 –              294 171 991   73 830          399 000     294 245 821
Presentation and acceptance of                  99.97%         0.03%            0.10%          73.45%
annual financial statements
Ordinary Resolution Number 2 –             176 163 840    118 097 981         383 000     294 261 821
Director appointment – NZ Mthembu               59.87%         40.13%           0.10%          73.46%
Ordinary Resolution Number 3 –              76 166 840    218 094 981         383 000     294 261 821
Director retirement and re-election –           25.88%         74.12%           0.10%          73.46%
B Moyo
Ordinary Resolution Number 4 –             233 862 537     60 399 284         383 000     294 261 821
Director retirement and re-election –           79.47%         20.53%           0.10%          73.46%
GN Waters
Ordinary Resolution Number 5 –             293 646 369        607 452         391 000     294 253 821
Re-appointment and remuneration of              99.79%          0.21%           0.10%          73.46%
Auditors
Ordinary Resolution Number 6 –              75 966 840    218 294 981         383 000     294 261 821
Appointment of Audit and Risk                   25.82%         74.18%           0.10%          73.46%
Committee member – B Moyo
Ordinary Resolution Number 7 –             235 767 037        630 452      58 247 332     236 397 489
Appointment of Audit and Risk                   99.73%          0.27%          14.54%          59.01%
Committee member – C Hechter
Ordinary Resolution Number 8 –             293 619 369        642 452         383 000     294 261 821
Appointment of Audit and Risk                   99.78%          0.22%           0.10%          73.46%
Committee member – L Brits
Ordinary Resolution Number 9 –             235 880 789        545 700      58 218 332     236 426 489
Endorsement of Pembury’s                        99.77%          0.23%          14.53%          59.02%
Remuneration Policy
Ordinary resolution Number 10 -            235 780 789        645 700      58 218 332     236 426 489
Endorsement of the implementation of            99.73%          0.27%          14.53%          59.02%
Pembury’s Remuneration Policy
Special Resolution Number 1 –              293 487 243        830 578         327 000     294 317 821
General authority to allot and issue            99.72%          0.28%           0.08%          73.47%
shares for cash
Special Resolution Number 2 –              235 434 289     58 883 532         327 000     294 317 821
Authority to issue shares or rights that        79.99%         20.01%           0.08%          73.47%
may exceed 30% of voting power
Special Resolution Number 3 –              248 928 292     45 397 529         319 000     294 325 821
Ratification of non-executive director’s        84.58%         15.42%           0.08%          73.47%
remuneration – NZ Mthembu
Special Resolution Number 4 –              293 612 121        711 700         321 000     294 323 821
Non-Executive directors’ remuneration           99.76%          0.24%           0.08%          73.47%
Special Resolution Number 5 –              293 780 243        491 578         373 000     294 271 821
Financial assistance in terms of Section        99.83%          0.17%           0.09%          73.46%
44 of the Companies Act
Special Resolution Number 6 –              293 780 243        491 578         373 000     294 271 821
Financial assistance in terms of Section        99.83%          0.17%           0.09%          73.46%
45 of the Companies Act
Special Resolution Number 7 –              236 077 659     58 221 162         346 000     294 298 821
Ratification of repurchase of shares            80.22%         19.78%           0.09%          73.47%
Special Resolution Number 9 –              235 248 807     57 897 162       1 498 852     293 145 969
General authority to acquire                    80.25%         19.75%           0.37%          73.18%
(repurchase) shares

Shareholders are advised that special resolution number 8 was not proposed.

Shareholders are further advised that ordinary resolution numbers 3 and 6 were not approved and
accordingly Mr Moyo retires from the Board and as a member of the Audit and Risk Committee. This
retirement will result in a vacancy on the Audit and Risk Committee. The Board will commence with
the process of identifying candidates to fill this vacancy in order to ensure the correct composition of
this Committee.

By order of the board
Johannesburg
5 November 2018

Designated Advisor
Arbor Capital Sponsors

Date: 05/11/2018 01:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
 

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Amateurs....how about a SENS that the suspension has been lifted? 

 

PEM 201811060029A
Advice of Legal Matter

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM
                                      
ADVICE OF LEGAL MATTER

Shareholders are advised that the Company has incorrectly been cited as owing an amount of
R483 765.00 to Artificial Grass SA Proprietary Limited (“AG SA”) for work which was carried out at two of
the schools, namely PLG Willow View Academy and PLG Raslouw Academy. The work was contracted
by Kygoway Proprietary Limited (“Kygoway”), which company does the construction work for the
schools and retirement villages. There is currently a dispute between AG SA and Kygoway around the
quality of the workmanship. However, AG SA has applied for the liquidation of the PL Group as a
means of enforcing payment of a debt due by Kygoway.

PL Group is not a party to the transaction and has not been invoiced by AG SA for the subject-matter
claims. This matter is being defended by the PL Group.


By order of the board
Johannesburg
6 November 2018

Designated Advisor
Arbor Capital Sponsors

Date: 06/11/2018 01:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
      

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7 minutes ago, SB45 said:

Amateurs....how about a SENS that the suspension has been lifted? 


Wait, has the JSE suspension on Pembury been lifted?

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1 hour ago, Spreadsheet Ranger said:


Wait, has the JSE suspension on Pembury been lifted?

No Ranger, with these amateurs, not the case. You call them they will shift the blame to the JSE "its up to the JSE Sir"  

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Thanks for the lowdown SB45. All I can say is... Maaan these guys are thugs. Can somebody check if the elderly in their retirement homes get all their meals or they are made to choose between breakfast or supper. CAN'T TRUST THESE FRAUDS.

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PEM 201811140021A
Notification in terms of Section 122 of the Companies Act, 2008 (No 71 of 2008) ("The Act")

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949 JSE Code: PEM

NOTIFICATION IN TERMS OF SECTION 122 OF THE COMPANIES ACT, 2008 (NO 71 OF 2008) (“THE ACT”)


Shareholders are advised that in compliance with Section 122 of the Act and in accordance
with Section 3.83(b) of the Johannesburg Stock Exchange’s (“JSE”) Listings Requirements, the
shareholding of Zephan Properties Proprietary Limited’s reduced from 15.7% to 7% with the sale
of 30 000 000 shares to The Black Management Forum Investment Company Limited (“BMFI”) as
announced on 27 July 2017, before the issue of new shares to BMFI.

The shareholder has been requested to submit the necessary forms to the Company, which will
then be submitted to the Takeover Regulation Panel.

BY ORDER OF THE BOARD
Johannesburg
14 November 2018

Designated Advisor
Arbor Capital Sponsors
 

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PEM 201811140024A
Update on Acquisition of Finch Haven

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM


UPDATE ON ACQUISITION OF FINCH HAVEN


Shareholders are referred to the announcement published on SENS on 2 February 2018, wherein it was
advised that PLG Properties, a wholly owned subsidiary of PL Group had entered into an agreement
with Finch Haven Retirement CC, (the member of which is Mr N Georgiou) to acquire a property in
Fairland for a total purchase consideration of R16 million (“the Acquisition”). The property has not yet
been transferred to the Company.

Shareholders are advised that the Acquisition has subsequently been identified as an indirect related
party acquisition from a former material shareholder as per the definitions and section 10 of the JSE
Listings Requirements and will therefore require a fairness opinion from an independent expert. Should
the Acquisition be found to be unfair, shareholder approval will be required in General Meeting. A
further announcement will be made in due course.



By order of the board
Johannesburg
14 November 2018


Designated Advisor
Arbor Capital Sponsors

Date: 14/11/2018 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
 

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Just now, SB45 said:

Shareholders are advised that the Acquisition has subsequently been identified as an indirect related
party acquisition from a former material shareholder as per the definitions and section 10 of the JSE
Listings Requirements and will therefore require a fairness opinion from an independent expert. Should
the Acquisition be found to be unfair, shareholder approval will be required in General Meeting. A
further announcement will be made in due course.

This means suspension will not be lifted this year, this is clear, taking from the slow pace this company takes to resolve matters.

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