TIW - Tiger Wheels Limited - Update To Tiwheel Shareholders
TIW
TIW
TIW - Tiger Wheels Limited - Update To Tiwheel Shareholders
TIGER WHEELS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1970/011662/07)
SHARE CODE: TIW ISIN NUMBER: ZAE000007407
("TIWHEEL")
UPDATE TO TIWHEEL SHAREHOLDERS
Tiwheel wishes to advise shareholders that Nedgroup Investments 102 Limited
("Nedbank Group") has served a Notice of Motion to apply for the liquidation of
Tiwheel.
Tiwheel`s liability to the Nedbank Group is in relation to the financing of the
property occupied by one of Tiwheel`s sub-subsidiary companies, ATS Light Alloy
Wheels SA (Pty) Limited (in liquidation). Tiwheel had underwritten any losses
that Nedbank Group may incur in this financing arrangement.
The matter is set down for hearing later this month. Further announcements will
be made in due course to keep shareholders informed.
This announcement is made voluntarily by the board of Tiwheel.
Johannesburg
14 July 2008
Sponsor
Sasfin Capital
Date: 14/07/2008 14:46:16 Produced by the JSE SENS Department.
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