Section 45 announcement
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
(“Crookes Brothers” 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 Crookes Brothers are referred to the special resolution tabled and
approved at the Annual General Meeting held on 27 August 2021, authorising
directors 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. The Board has authorised the
Company in terms of Section 45 (2) of the Act, to provide or to continue to provide
direct or indirect financial assistance (including by way of loans or guarantees) to
related or inter-related companies in the normal course of business.
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 would 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 would be given would be fair and reasonable to the Company.
Shareholders are advised that the financial assistance (loan finance) to be provided
to the related or inter-related companies may exceed 1/10th of 1% of the Company’s
net worth as at the approval date of this notification.
Mount Edgecombe
23 November 2021
Sponsor:
Sasfin Capital (a member of the Sasfin group)
Date: 24-11-2021 07:05:00
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