| Fri 16 Mar 2012, 16:20 | | SAN - Sanyati - Notice of Provision of Direct or Indirect Financial Assistance |
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SAN
SAN
SAN - Sanyati - Notice of Provision of Direct or Indirect Financial Assistance
in terms of Section 45 of the Companies Act No 71 of 2008
Sanyati Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1988/002538/06
Share code: SAN
ISIN code: ZAE000081055
("Sanyati" 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 Sanyati are referred to the special resolution, tabled and
approved at the general meeting held on 16 January 2012, authorising the board
of directors of Sanyati ("Board"), 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 Sanyati subsidiary companies.
The Board has confirmed that, after considering the reasonably foreseeable
financial circumstances of the Company, it is satisfied that, immediately after
it provides such financial assistance, the Company will 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 subsidiary companies
exceeds one-tenth of 1% of the Company`s net worth as at the approval date of
the provision of the surety.
Bryanston
16 March 2012
Sponsor:
BDO Corporate Finance
Date: 16/03/2012 16:20:10 Produced by the JSE SENS Department.
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