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TBX
TBX
TBX - Thabex - Voluntary Suspension Of Listing
Thabex Limited
("Thabex" or "the Company")
Registration No 1988/000763/06
(Incorporated in the Republic of South Africa)
JSE share code: TBX
ISIN Code: ZAE000013686
("Thabex" or "the Company")
VOLUNTARY SUSPENSION OF LISTING
Shareholders are hereby advised that the Company has made an application to the
JSE Limited ("JSE") for the voluntary suspension of the Company`s listing on the
JSE, with immediate effect.
The reason for the voluntary suspension is that on 17 June 2010 an application
in the High Court of Lesotho was served on several respondents including Thabex,
Angel Diamonds (Pty) Limited (a 60.09% subsidiary of Thabex) (`Angel Diamonds")
and Mantle Diamonds Limited ("Mantle Diamonds"), seeking an urgent interdict to
challenge the shareholding of Thabex in Angel Diamonds in terms of a
shareholders agreement which was terminated on 8 September 2009, when Mantle
Diamonds became a 13.33% shareholder in Angel Diamonds.
Angel Diamonds and Thabex filed a Notice of intention to oppose the application,
however the application was heard in the High Court of Lesotho yesterday, 21
June 2010, and was granted.
Shareholders are further referred to the SENS announcement made by the JSE on 17
June 2010, in terms of which it was advised that the Company`s listing will be
suspended if the provisional financial results for the year ended 28 February
2010 are not published by 30 June 2010. The directors of Thabex believe that the
court application may have a material influence on the provisional results of
the Company as it relates to the shareholding and the loan account of Angel
Diamonds. The board therefore resolved to apply for the voluntary suspension of
the Company`s listing on the JSE, with immediate effect, until the issue of the
Angel Diamonds shareholding has been resolved. The Company has been given time
until 16 July 2010 to provide reasons why the order granted by the High Court of
Lesotho should not be made final.
Shareholders will be informed as soon as there are any new developments
regarding the abovementioned matters and as to when the Company`s provisional
results will be published.
Johannesburg
22 June 2010
Sponsor
PSG Capital (Pty) Limited
Date: 22/06/2010 14:03:25 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
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