BIOSCIENCE BRANDS LIMITED - Application for liquidation received

Application for liquidation received


BIOSCIENCE BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
(JSE code: BIO ISIN: ZAE000115036)
(BioScience or the Company)

Application for liquidation received and cautionary announcement

 
BioScience originated from a suspended company, Wellco Brands Limited (Wellco). Prior to its 
suspension, Wellco borrowed R2 million from Dr AP Ferreira. BioScience has repaid Dr Ferreira 
R2,3 million towards capital and interest. There is still an amount of R0,6 million due to Dr 
Ferreira.
 
Dr Ferreira has issued a notice of motion for the liquidation of BioScience. Notice thereof was 
received on 30 July 2013. BioScience is assessing its options and continues to attempt to settle 
the matter with Dr Ferreira amicably. 
 
BioScience has been pursuing a restructuring which would settle creditors of the remaining 
trading company and sought to establish a shell for the benefit of shareholders and creditors 
of BioScience itself. The effect of a possible liquidation thereon is being assessed.
 
Under the circumstances shareholders are advised to exercise caution when dealing in the 
Companys securities until a further announcement is made. 
 
Johannesburg
31 July 2013
 
Designated Adviser
Exchange Sponsors
 


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