CKS - Crookes Brothers Limited - Notice of provision of direct or indirect
CKS
CKS
CKS - Crookes Brothers Limited - Notice of provision of direct or indirect
financial assistance in terms of section 45 of the companies act no 71 of 2008
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS:ISIN: ZAE000001434
("Crookes" or "the Company")
NOTICE OF PROVISION OF DIRECT OR INDIRECT FINANCIAL ASSISTANCE IN TERMS OF
SECTION 45 OF THE COMPANIES ACT NO 71 OF 2008
Shareholders of Crookes are referred to the special resolution tabled and
approved at the Annual General Meeting held on 22 July 2011, authorising
directors in terms of Section 45 of the Companies Act, 2008 (Act 71 of 2008)
("the Act") to provide direct or indirect financial assistance to any company or
corporation which is related or inter-related to the Company. In terms of
Section 45 (2) of the Act, the Board has authorised the Company to bind itself
as a surety and co-principal debtor, in the normal course of business, for a
Crookes` joint venture company.
The Board has confirmed that, after considering the reasonably foreseeable
financial circumstances of the Company, it is satisfied that, immediately after
it provided such financial assistance, the Company would satisfy the solvency
and liquidity test, as contemplated in terms of Section 4 of the Act and that
the terms under which such financial assistance was given were fair and
reasonable to the Company. Shareholders are advised that the surety extended for
the joint venture exceeds 1/10th of 1% of the Company`s net worth as at the
approval date of the provision of the surety.
Renishaw
22 December 2011
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 22/12/2011 08:49:00 Produced by the JSE SENS Department.
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