YRK - York - Re-Alignment Of York Operations

YRK - York - Re-Alignment Of York Operations                                    
York Timber Holdings Limited                                                    
(Previously "The York Timber Organisation Limited")                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1916/004890/06)                                            
Share code: YRK & ISIN: ZAE000133450                                            
("York" or "the Company")                                                       
RE-ALIGNMENT OF YORK OPERATIONS                                                 
1.     Background                                                               
York shareholders are referred to the commentary accompanying the interim       
results published on SENS on 4 March 2009 in which they were informed that York 
has experienced deteriorating trading conditions from the end of 2008, that     
management expected such trading conditions to continue throughout 2009 and that
remedial actions were being contemplated.                                       
2.    Remedial actions                                                          
The Board of Directors of York appointed Piet van Zyl as its new Chief Executive
Officer with the specific mandate to revise the overall strategic direction of  
York, taking the current economic environment into consideration. After a       
detailed assessment, the rationalisation of processing operations is            
contemplated and the remedial action being considered includes the possible     
closing of three of its eight processing plants: two permanent closures and the 
mothballing of the third.                                                       
Further actions entail curtailing costs, optimising the utilisation of the      
Company`s own plantation stock on its 90,000 hectare landholding and aligning   
York`s overhead cost structures with the current market environment. This will  
bring about the possible restructuring of all divisions within the Company.     
3. The way forward                                                              
York has commenced a comprehensive consultation process with all stakeholders so
as to effectively implement the new strategic direction. It is intended that the
contemplated restructuring will be completed as soon as possible within the     
coming months.                                                                  
9 June 2009                                                                     
Sabie                                                                           
Sponsor: Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited          
Date: 09/06/2009 07:05:06 Supplied by www.sharenet.co.za                     
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