RBA HOLDINGS LIMITED - Update on business rescue process of the companies in business rescue in the RBA Group
RBA 201605100023A
Update on business rescue process of the companies in business rescue in the RBA Group
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 THE COMPANIES IN BUSINESS RESCUE
IN THE RBA GROUP
Shareholders are referred to the announcement of 11 April 2016. Trevor
Glaum, the Business Rescue Practitioner (“BRP”), would like to provide
the following update as to the business rescue process and a general
update of the RBA group.
The main focus currently is to draft the business rescue plans for RBA
and the respective subsidiaries that are in business rescue for
consideration by creditors in June 2016.
The BRP continues to work closely with management on all aspects of
cost cutting and improving income through the restructuring of the RBA
Group, both from a nett revenue and balance sheet perspective.
10 May 2016
Braamfontein
Designated Adviser
Exchange Sponsors
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