CHEMICAL SPECIALITIES LIMITED - Outcome of application for a further extension of time to publish the business rescue plan

Outcome of application for a further extension of time to publish the business rescue plan

Chemical Specialities Limited
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP & CSPP
ISIN: ZAE000109427 & ZAE000184305
("Chemspec" or "the Company")

OUTCOME OF APPLICATION IN TERMS OF SECTION 150(5) OF THE COMPANIES
ACT 71 OF 2008 FOR A FURTHER EXTENSION OF TIME TO PUBLISH THE
BUSINESS RESCUE PLAN

Shareholders are referred to the announcement released on SENS on
21 May 2015, and are advised that Creditors of the Company voted
overwhelmingly   in  favour   of   allowing the  Business  Rescue
Practitioners a further extension of time within which to publish
the Business Rescue Plan of the Company.

The voting was as follows:
1.   Value of claims for the extension: R149 888 092.64 (70 votes)
2.   Value of claims against the extension: R235 172.10 (3 votes)

The BRP’s must now publish their Business Rescue Plan on or before
the 30th of June 2015.

A copy of the above notice is available on the Company’s website
hosted at www.chemspecpaint.com. Please direct all enquires to the
following email address: businessrescue@chemspecpaint.com

Durban
29 May 2015

Designated Advisor:
Grindrod Bank Limited

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