| Wed 25 May 2016, 15:05 | | AFRICAN BANK INVESTMENTS LIMITED - Successful Implementation and Termination of Business Rescue Proceedings |
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ABL ABLP 201605250052A
Successful Implementation and Termination of Business Rescue Proceedings
AFRICAN BANK INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Hybrid instrument code: ABLP ISIN: ZAE000065215
(“ABIL” or “the Company”)
SUCCESSFUL IMPLEMENTATION AND TERMINATION OF BUSINESS RESCUE PROCEEDINGS
Shareholders are referred to the announcements released on SENS on 19 November 2015, 29 February
2016, 14 March 2016, 12 April 2016 and 18 April 2016 (using the terms defined therein unless otherwise
stated) wherein shareholders were advised, inter alia, that at the meeting of creditors of ABIL held on
18 April 2016, the Business Rescue Plan, as amended, had been approved by the requisite majority of
creditors.
The board of directors of ABIL (“board”) wishes to advise shareholders that the adopted Business
Rescue Plan, as approved by creditors, has been successfully implemented and as such, the business
rescue proceedings of ABIL have ended.
As ABIL is no longer distressed the Company can continue to operate as a going concern.
Notwithstanding the completion of the business rescue proceedings, the former Business Rescue
Practitioners, Messrs Dawie van der Merwe and John Evans (“former BRPs”) will continue to assist the
board in the management and safeguarding of the assets of the Company, until a new board is
constituted at the next Annual General Meeting (“AGM”).
The Board has further mandated the former BRPs to assist it in convening an AGM at the earliest
possible date.
By order of the board.
Midrand
25 May 2016
Sponsor
Merchantec Capital
Date: 25/05/2016 03:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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