Motus accelerates towards JSE listing. The automotive group says its own listing will provide shareholders with an

opportunity to participate directly in its success.

Motus Holdings lists on the JSE today ending a multi-year journey to create

more value for shareholders of Imperial Holdings. The automotive group has

been unbundled from parent company Imperial Holdings, which changes its name

on 5 December to Imperial Logistics.

Imperial shareholders are getting one Motus share for each Imperial share in

the unbundling, giving them the choice between the consumer-facing automotive

business or the logistics business, which has a corporate client base. The

decision to separate the two was taken after a strategic review found there

were few operational synergies between them. Motus was created as a separate

holding company last year and will now be able to access debt and equity

markets independently.

Acting CEO Ockert Janse van Rensburg said the unbundling and separate listing

of Motus would enable it to operate in a more focused and efficient manner,

while at the same time providing shareholders with an opportunity to

participate directly in its success.

As a result of our differentiated value proposition, investing in Motus means

participating in the entire automotive value chain, which underpins our

ability to create sustainable value through the cycle," Janse van Rensburg

said.

In an update last month, Imperial said Motus was expected to grow revenue,

operating profit and headline earnings for the six months to end-December,

before taking into account any costs related to the proposed unbundling. The

group had maintained market share at just under 20% in a highly competitive

market, with national vehicle sales declining marginally in the three months

to end-September. Imperial said the trend of consumers trading down to entry-

level models was continuing.

The company traces its roots back to 1948 when Imperial started as a motor

dealership in the Johannesburg city centre. Today Motus operates across the

automotive value chain in four areas, including import and distribution,

retail and rental, motor-related financial services, and aftermarket parts.