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HOMECHOICE POSTPONES PLANNED LISTING

20 September 2012

HomeChoice Holdings has postponed its planned listing on the JSE which was provisionally scheduled for the fourth quarter of 2012.

The directors believe that current market conditions are not supportive for a listing by the company. Following extensive engagement with potential investors locally and offshore, it became evident that the uncertain market environment was not conducive to raising capital on suitable terms through a listing at this time.

The group will continue to invest as planned in its debtor books, information systems, the development of a new distribution centre and the expansion of its distribution infrastructure through other internal and external sources of funding.

Management will monitor and evaluate market conditions to determine a more appropriate time to list the company.