AGI - AG Industries Limited - Update on status of AGI and renewal of cautionary
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 9 February 2011.
Shareholders are advised that the Company, through its various liquidated
subsidiaries, has entered into a sale of assets agreement with Shireewood
Investment CC for a disposal consideration of R52 million excluding VAT ("the
disposal"). The disposal constitutes the majority of the assets of AGI.
The liquidators have advised that, at this stage, there appears to be no
prospect of a return to the shareholders of AGI as the consideration from the
disposal has not realised 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
4 March 2011
Sponsor
Sasfin Capital
(A Division of Sasfin Bank Limited)
Date: 04/03/2011 15:49:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
