FRT - Faritec - Application For Liquidation Of Faritec

Release Date: 11/05/2010 16:49
Code(s): FRT
 
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FRT - Faritec - Application For Liquidation Of Faritec Faritec Holdings Limited (Registration number 1998/004872/06) Share code: FRT ISIN: ZAE000016838 ("Faritec" or "the Company") APPLICATION FOR LIQUIDATION OF FARITEC Shareholders are referred to the announcement dated 30 April 2010 advising shareholders of the suspension in the trading of Faritec shares and the previous cautionary announcements (the last of which was dated 26 April 2010) in relation to the steps that Faritec was taking to address its financial difficulties. Shareholders are advised that despite the efforts of the company, Faritec has not been successful in raising the necessary funds to implement their turnaround strategy. Accordingly Faritec, in its capacity as a creditor of Faritec Enterprise Solutions (Pty) Ltd ("Faritec Enterprise Solution") has filed for the liquidation of Faritec Enterprise Solutions, Faritec`s wholly owned operating subsidiary. Shareholders will be advised of further developments as they arise. 11 May 2010 Sponsor Java Capital (Proprietary) Limited Date: 11/05/2010 16:49:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department . The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
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