JSE LIMITED - AG Industries Limited - Termination of listing on the JSE Limited

AG Industries Limited - Termination of listing on the JSE Limited

GEN - AG INDUSTRIES LIMITED – TERMINATION OF LISTING ON THE JSE LIMITED
(THE “JSE”)

The JSE wishes to advise that AG Industries Limited (“AGI”) has confirmed,
inter alia, the following to the JSE:

  i)     AGI’s listing on the JSE has been suspended since 29 November
         2009 at the request of the board of directors as AGI was no longer
         in a position to trade in the ordinary course of business.
  ii)    AGI and its subsidiaries (“the Group”) experienced trading and
         consequent liquidity difficulties during 2009.
  iii)   On 26 November 2010 the consortium of banks that had previously
         funded the Group claimed its securities over the assets of the
         Group.
  iv)   On 8 December 2010 the South Gauteng High Court Johannesburg
        granted provisional liquidation orders for the main operating,
        trading and holding companies in the Group.
  v) Between that date and today, the following developments occurred:
        ? Final liquidation orders were granted with respect to all the
           companies in the Group that were selected by creditors for
           liquidation.
        ? The liabilities of the AGI group were such that the banks were
           the only creditors to receive any liquidation proceeds.
  vi)   During the period in which the liquidation process has been
        ongoing, all companies outside of the liquidation process,
        including AGI, have had no access to any resources of any nature
        whatsoever in order to wind up their affairs, including no staff,
        no place of business and no financial records or information
        available to them.
  vii) An application has recently been made to CIPC to finalize the
        deregistration of the remaining companies, including AGI

As a result of the above, AGI has requested that the JSE terminate its
listing on the JSE.


The JSE has agreed to the termination with effect from the commencement of
business on Tuesday, 27 August 2013. The record date to determine the
shareholders' register will be Friday, 23 August 2013.




26 July 2013

Date: 26/07/2013 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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