COMMAND HOLDINGS LIMITED - Update announcement

Update announcement

COMMAND HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration no: 1999/014759/06)
Share Code: CMA ISIN Code: ZAE000023131
("Command" or "the Company")



UPDATE ANNOUNCEMENT



1. On 24 May 2013 Yekiso J of the Western Cape High Court declared the late Kalman
     Druker, Mohamed Iqbal Parker, Mohamed Shaffie Mowzer, and Francina Mabana
     Moshesh delinquent in their capacities as directors of Command and placing Cornelius
     Tobias Vermaak, Yvonne Kelebongile Nono Mohutsioa-Mathabathe, Oscar Setsubi,
     Mokagabudi Lucky Masilela and Lerato Pretorius on probation in their capacities as
     directors of Command.


2.   On 6 June 2013 Mr MS Mowzer, in his capacity as a duly authorised trustee of Ikwezi
     Investment Trust (IT No. 2224/98) (“Ikwezi”), made an application in terms of section
     61(11)(b) of the Companies Act 71 of 2008 (“the Act”) requesting the Companies
     Tribunal (“the Tribunal”) to issue an administrative order for an annual general meeting
     of shareholders to be convened on a date and subject to any terms that the Tribunal
     considers appropriate in the circumstances of this matter.


3.   Section 61(11)(b) of the Act provides that “if a company is unable to convene a meeting
     as required in terms of this section because it has no directors, or because all of its
     directors are incapacitated-


     (b) if no person has been authorised as contemplated in paragraph (a), the Companies
        Tribunal, on request by any shareholder, may issue an administrative order for a
        shareholders meeting to be convened on a date, and subject to any terms, that the
        Companies Tribunal considers appropriate in the circumstances”


4. On 6 June 2013 the Company Secretary of the Company, Mr Elton Rochert, applied to
     the Tribunal for an extension to convene an annual general meeting of shareholders in
     terms of section 61(7)(b) of the Act.
5.   On 31 July 2013 Cape Empowerment Trust Limited, a shareholder of the Company
     addressed written submissions to the Tribunal requesting the Tribunal to disregard and
     not to rule in favour of the abovementioned applications.


6.   Shareholders are advised that the Tribunal has now issued a notice of hearing in terms
     of which it advised that the abovementioned applications will be heard on 30 September
     2013 at 10h00 at the offices of the National Consumer Tribunal in Centurion.




By Order
Elton Arthur Rochert
Company Secretary


Cape Town
2 September 2013


Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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