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TWP
TWP
TWP - TWP Holdings Limited - Voluntary stakeholder update
TWP Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/025640/06
Share code: TWP ISIN: ZAE000110763
("TWP")
VOLUNTARY STAKEHOLDER UPDATE
With world and local markets in an unprecedented state of volatility, the
board of TWP believes it is appropriate to issue an update to all stakeholders.
Much has been printed and statements made recently on the plight of mining
companies and speculation made on the future viability of projects. While TWP
as a group has had some projects delayed, the majority of TWP`s workload
remains unaffected at this stage. Where projects have been delayed, they have
gone back to a review/feasibility status and TWP`s involvement is ongoing.
Standing TWP in particularly good stead is the fact that the majority of
TWP`s projects are long-term projects with blue chip clients.
Notwithstanding the above, TWP is reviewing all aspects of its operations
to improve efficiency and cash generation. In addition, commissions and
projects are being pursued outside of the mining and minerals industry,
particularly in the field of power generation. Whereas the workload for
TWP`s core businesses in South and southern Africa remains relatively
stable, the business climate in Perth, Western Australia has been much more
seriously affected and in this region TWP Australia has taken steps to
ensure the continued profitability of the venture.
The board refers stakeholders to TWP`s interim results announcement
dated 23 October 2008 (www.twp.co.za) and confirms that the 2009 year-end
target as contained in the Pre-Listing Statement dated 20 November 2007
remains achievable.
Requests for further information or questions can be addressed to Nigel
Townshend at ntownshend@twp.co.za.
By order of the board.
ENDS
Issued by: Serendipity Events, Promotions & Exhibitions
On behalf of: TWP
Editorial contact: Loll Thomson (011) 467 2133
Mail to: loll@sepe.co.za
Client contact: Nigel Townshend (011) 356 7300
Mail to: ntownshend@twp.co.za
27 November 2008
Date: 27/11/2008 08:54:04 Produced by the JSE SENS Department.
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