RBA HOLDINGS LIMITED - Update on business rescue process of RBA - certain subsidiaries placed in business rescue
RBA 201603300033A
Update on business rescue process of RBA - certain subsidiaries placed in business rescue
RBA HOLDINGS LIMITED (IN BUSINESS RESCUE)
(Incorporated in the Republic of South Africa)
(Registration number: 1999/009701/06)
(Share Code: RBA ISIN Code: ZAE000199642)
(“RBA” or “the Company”)
UPDATE ON BUSINESS RESCUE PROCESS OF RBA - CERTAIN SUBSIDIARIES
PLACED IN BUSINESS RESCUE
Shareholders are referred to the announcement of 11 March 2016.
The Business Rescue Practitioner (“BRP”) wishes to inform stakeholders that the boards of
certain subsidiaries of the Company (“Subsidiaries”) listed below (“Subsidiary Boards”) had
resolved, in terms of Section 129(1) of the Companies Act 71 of 2008, that the following
subsidiaries be placed under supervision and in business rescue on a voluntary basis:
1. RBA Executive Homes (Pty) Ltd;
2. RBA Homes (Pty) Ltd; and
3. RBA Building Projects (Pty) Ltd.
It is the Subsidiary Boards’ assessment that the Subsidiaries are financially distressed and
there appears to be a reasonable prospects of rescuing the Subsidiaries.
It was further resolved that Trevor Philip Glaum of Sanek Trust Recovery Services (Pty) Ltd
be appointed as Business Rescue Practitioner (“BRP”) in respect of the Subsidiaries.
30 March 2016
Braamfontein
Designated Adviser
Exchange Sponsors
Date: 30/03/2016 12:35:00 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
