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AGI
AGI
AGI - AG Industries Limited - Update on status of AGI and renewal of cautionary
announcement
AG INDUSTRIES LIMITED
(Incorporated in the Republic Of South Africa)
Registration Number: 1980/004051/06
Share Code: AGI
ISIN: ZAE000039467
("AGI" or "the Company")
(Suspended)
UPDATE ON STATUS OF AGI AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to previous cautionary announcements released on SENS,
the last one dated 29 December 2010.
Shareholders are advised of the following changes in the status of the company
and its subsidiaries:
The following subsidiaries of AGI have been liquidated:
- AGI Glass (Pty) Ltd
- AGI Aluminium (Pty) Ltd
- Africa Glass Group Services (Pty) Ltd
- AGI Manufacturing (Pty) Ltd
- West Cape Safety Glass (Pty) Ltd
AG Industries Limited has not been liquidated.
The liquidators have invited industry players and others to participate in
bidding for all the assets of the companies in provisional liquidation as well
as certain companies which have not been liquidated to the extent that they hold
any assets.
Initial investigations reveal that there would, at this stage, appear to be no
prospect of a return to the shareholders of AGI as it is anticipated that the
AGI group`s assets will not realise sufficient cash to pay the claims of all the
creditors.
The provisional liquidators of the companies mentioned above have employed the
services of various staff members of AGI, to inter alia, assist shareholders
with any queries they have regarding the winding up process. One of the staff
members employed in such a capacity is Mr Roy Douglas to whom all such
shareholder queries can be directed. Mr Douglas` contact details are royd@ag-
industries.com.
In the circumstances shareholders` are advised to continue to trade with caution
when trading their shares over the counter until a further announcement is made.
Johannesburg
9 February 2011
Sponsor
Sasfin Capital
(A Division of Sasfin Bank Limited)
Date: 09/02/2011 09:21:01 Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
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howsoever arising, from the use of SENS or the use of, or reliance on,
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