TIW
TIW
TIW - Tiger Wheels Limited - Cautionary Announcement
Tiger Wheels Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/011662/06)
Share Code: TIW & ISIN: ZAE000007407
("TiWheel")
CAUTIONARY ANNOUNCEMENT
The revised forecast performance of the company`s global wheel
manufacturing business, the 74% held ATS Gmbh, is lower than those forecast
to its German financing syndicate in February 2007. The syndicate regards
this as a further breach of bank covenants which now requires a new waiver
agreement to be negotiated. The company is engaged in negotiations with the
banking syndicate in this regard.
Depending on the outcome of these discussions, various options are being
considered, including a possible re-financing or recapitalisation of the
group.
The above developments may have an impact on the price of the company`s
shares. Accordingly, shareholders are advised to exercise caution when
dealing in the company`s shares until a further announcement is made.
Midrand
30 May 2007
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Ltd)
Date: 30/05/2007 16:43:28 Produced by the JSE SENS Department.
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