SER / SRN - Seardel Investment Corporation Limited - Notice to Shareholders
SER SRN
SER
SER / SRN - Seardel Investment Corporation Limited - Notice to Shareholders
SEARDEL INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/011249/06)
Share code: SER & ISIN Code: ZAE000029815
Share code: SRN & ISIN Code: ZAE000030144
("Seardel")
NOTICE TO SHAREHOLDERS
Shareholders are referred to the article appearing in the Business Day of 26 May
2009 entitled "Seardel team may split group to save assets". The article
indicates that shareholders` interests would need to take a back seat whilst a
rescue plan to save the Spinning, Weaving, Finishing and Denim divisions of
Frame Textiles ("the affected divisions") is thrashed out.
Shareholders are advised that, in line with previous announcements, Seardel is
continuing discussions with interested parties with a view to closing the
affected divisions. At this point, the proposed rescue plan is dependent on
potential investors being willing to provide the necessary capital to facilitate
a re-opening of some or all of these divisions. Discussions with potential
investors are on-going. Seardel is committed to trying to find a workable
solution and has expressed a willingness to participate in the rescue plan.
However, the interests of all the stakeholders will be considered before any
final decisions are made in this regard.
26 May 2009
Sponsor
Java Capital (Proprietary) Limited
Date: 26/05/2009 15:38:01 Produced by the JSE SENS Department.
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