| Fri 15 Jun 2012, 16:55 | | SAN - Sanyati Holdings Limited - Notification of the first meetings of creditors |
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SAN
SAN
SAN - Sanyati Holdings Limited - Notification of the first meetings of creditors
and employees and employee representatives and renewal of Cautionary
Announcement
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")
Notification of the first meetings of creditors and employees and employee
representatives and renewal of cautionary announcement
1 Introduction
Sanyati Shareholders attention is drawn to the announcement that was
published on SENS on Monday, 4 June 2012 whereby Shareholders were informed
that that the Board of Sanyati ("Board") had resolved on Tuesday, 29 May
2012, that both the Company and its wholly owned subsidiary, Sanyati Civil
Engineering and Construction Proprietary Limited ("SCE&C"), begin business
rescue proceedings and be placed under supervision in terms of Section 129
of the Companies Act No. 71 of 2008 ("Act").
2. Notice of first meetings of creditors and employees and employee
representatives
Shareholders are advised that, in accordance with section 147 and 148 of
the Act, all the creditors, employees and employee representatives of the
Company and SCE&C were given notice on Friday, 15 June 2012 of the first
meetings of creditors and employees and employee representatives at which
Mr Trevor Murgatroyd, the appointed business rescue practitioner to both
Sanyati and SCE&C, must , inter alia, inform the attendees whether he
believes that there is a reasonable prospect of rescuing the Company and
SCE&C.
The first meetings of creditors and employees and employee representatives
will be held at the offices of the Arbitration Foundation, being 1st Floor,
Maisels Chambers, 4 Protea Place, Sandton at 1.00pm and 3.00pm,
respectively.
Copies of the notices may be obtained from the Company on e-mail
admin@sanyati.co.za.
3. Renewal of cautionary announcement
Sanyati requested that the shares be voluntary suspended on the JSE
effective 23 May 2012 and the Board has requested that the suspension
remains in place.
Shareholders are advised to continue to exercise caution when dealing in
the Company`s securities until further information with regards to the
above is provided.
Bryanston
15 June 2012
Date: 15/06/2012 16:55:02 Produced by the JSE SENS Department.
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