CKS - Crookes Brothers - Disposal of farming properties known as The Komatipoort
CKS
CKS
CKS - Crookes Brothers - Disposal of farming properties known as The Komatipoort
Estate, to the National Department of land affairs in accordance with the Land
Restitution Programme of The South African Government
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
("Crookes" or the "company")
DISPOSAL OF FARMING PROPERTIES KNOWN AS THE KOMATIPOORT ESTATE, TO THE NATIONAL
DEPARTMENT OF LAND AFFAIRS ("NATIONAL GOVERNMENT OR THE PURCHASER") IN
ACCORDANCE WITH THE LAND RESTITUTION PROGRAMME OF THE SOUTH AFRICAN GOVERNMENT
Shareholders are referred to the SENS announcement which was released on SENS on
17 June 2009 and published in the press on 18 June 2009 wherein it was stated
that all resolutions in terms of the Crookes circular dated 28 May 2009,
relating to the disposal of farming properties known as the Komatipoort Estate,
to the National Government were approved by the requisite majority of Crookes
shareholders.
Shareholders are now advised that the National Government has not furnished the
requisite undertaking for payment of the purchase price of R200 million to the
conveyancers in accordance with the provisions of the Agreement of Sale and
Purchase.
Crookes has accordingly commenced the appropriate process to enforce their
remedies as are available in terms of the Agreement of Sale and Purchase and the
law.
Renishaw
7 September 2009
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 07/09/2009 15:03:09 Produced by the JSE SENS Department.
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