|
ALD
ALD
ALD - Aludie Limited - Termination of listing
Aludie Limited
Incorporated in the Republic of South Africa
Registration number 1982/009023/06
Share code: ALD ISIN: ZAE000008876
("Aludie" or "the company")
Termination of listing
Background
Aludie`s listing was suspended with effect from 3 February 2005 due to failure
to comply with the JSE Listings Requirements by not submitting its annual
financial statements timeously. The company last published reviewed provisional
results for the year ended 30 June 2005 on 14 October 2005. Since that date, no
financial results have been published and the auditors, Deloitte & Touche, have
not yet finalised their audit for the year ended 30 June 2005.
Aludie is purely a holding company with two wholly-owned subsidiaries, namely
Aludi Technologies (Pty) Limited ("Aludi Technologies") and Aludi Services (Pty)
Limited ("Aludi Services"). All the group`s operating activities are conducted
through Aludi Technologies. Aludi Services no longer has any trading
activities.
Aludi Technologies sells CCTV, access control and parking equipment. For the 10
months ended April 2007 Aludi Technologies recorded a break-even trading
position. The group remains technically insolvent due to the claims by a
shareholder on the company.
Continued listing on the JSE will result in further costs being incurred. The
company does not have the cash resources to meet these continued expenses nor
would the continued incurrence of these costs be in the best interests of Aludie
shareholders as the company is technically insolvent.
Request for termination of listing
In terms of section 13(5)(a) and (b) of the Securities Services Act, 2004,
Aludie may request the JSE to terminate its listing. Aludie therefore made an
application to the JSE to terminate its listing with immediate effect based on
the following factors:
- Aludie does not comply with the JSE Listings Requirements as far as Main
Board listing criteria (loss-making and technically insolvent) and
continuing obligations are concerned, and has not done so for many years;
- No offer has been made, or is proposed to be made, to the Aludie
shareholders, as contemplated by the JSE prior to the JSE approving the
termination of a listing of a company;
- No current potential acquisition opportunities have been identified; and
- Once the company`s listing is terminated it can, at a far lesser cost and
less onerous obligations, pursue other alternatives in an attempt to
restore some value for shareholders.
The JSE has granted the termination of listing and shareholders are hereby
advised that the company`s listing on the JSE will be terminated with effect
from the commencement of business on Thursday, 7 June 2007 (record date:
Wednesday, 6 June 2007).
Johannesburg
23 May 2007
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 23/05/2007 10:17:01 Produced by the JSE SENS Department.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
