SKY - Sea Kay Holdings Limited - Shareholders` Update
SKY
SKY
SKY - Sea Kay Holdings Limited - Shareholders` Update
SEA KAY HOLDINGS LIMITED
(Registration number 2006/004967/06)
(Incorporated in the Republic of South Africa)
JSE code: SKY
ISIN: ZAE000102380
("the company" or "Sea Kay")
SHAREHOLDERS` UPDATE
Following recent media exposure around RDP and affordable income housing in
South Africa, Sea Kay wishes to reiterate its support for the Minister of
Human Settlement`s initiative to eliminate poor building practices and ensure
that quality homes are delivered.
Sea Kay has an established track record of developing and constructing quality
affordable housing. Several of its projects have won local and national
awards.
Substantial projects have been completed and delivered during the past 9
months for which payment has not been received
The company has therefore engaged in discussions with the Gauteng Department
of Local Government and Housing regarding outstanding payments and these
discussions are still in progress.
The company has also instituted legal action for unpaid amounts in respect of
the N2 Gateway project in the Western Cape against all three spheres of
Government and Thubelisha Homes. Negotiations are taking place with the
relevant parties in this regard and it is expected that the matter will be
finalised within the next few months.
19 November 2009
Johannesburg
Sponsor
Vunani Corporate Finance
Date: 19/11/2009 13:17:01 Produced by the JSE SENS Department.
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