Prescient Holdings Proprietary Limited

Stellar Capital Partners Limited was invested in 49% of the issued ordinary shares of Prescient Holdings Proprietary Limited (“Prescient”) as at 30 June 2018. The significant units of Prescient’s financial services operations comprise:

  • Investment management: Prescient Investment Management manages money on behalf of retirement funds, medical aid schemes, other retirement vehicles and corporate entities, trusts and individuals.
  • Securities: Prescient Securities operates in a competitive stock broking market and offers efficient trade and execution services as well as a diverse research competency.
  • Fund services: Prescient Fund Services is a wholly-owned subsidiary of Prescient that offers specialist outsourced administration (including hedge fund administration), platform services and global execution services to asset managers, multi-managers and other institutional investment providers.Current third party assets under administration exceed R260 billion.
  • Management company: Prescient Management Company offers collective investment schemes (unit trusts) to retail and institutional clients who wish to access Prescient Investment Management’s distinctive investment style and philosophy through an efficient vehicle.
  • China: Prescient Investment Management has a representative office in Shanghai and was the first institution in Africa to be granted a Qualified Foreign Institutional Investor license by the Chinese authorities.

Please refer to the SENS announcement dated 26 July 2018 where Stellar Capital announced the conclusion of a binding term sheet that, after a series of transactions, will result in Prescient becoming an empowered entity, with Prescient Empowerment Trust Proprietary Limited (PET) ultimately becoming the controlling shareholder of Prescient. Stellar Capital will retain an effective 19.4% economic interest in Prescient once all the conditions precedent to the transaction have been fulfilled, as a result of a disposal of Prescient shares and the dilutive effect of Prescient issuing more shares. The total cash proceeds payable to Stellar Capital as a result of the disposal of 24.5% of Prescient are currently estimated to be R384.5 million, which also includes expected price escalations to the closing date of the transaction.

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