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BIK - Brikor Limited - Resignation as Designated Advisor of Brikor

Release Date: 24/01/2011 07:48
Code(s): BIK
Wrap Text

BIK - Brikor Limited - Resignation as Designated Advisor of Brikor BRIKOR LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/013247/06) JSE code: BIK ISIN: ZAE000101945 ("Brikor" or "the company") Resignation as Designated Advisor of Brikor. Shareholders are advised that Vunani Corporate Finance has resigned as Designated Advisor to Brikor as from 21 January 2011 due to the failure of the executive directors of the company to adhere to proper Corporate Governance and Companies Act requirements with regard to the approval of the interim results of Brikor for the six months ended 31 August 2010, which were released by the company on Sens on 24 December 2010. This failure stems from the release of the interim results despite the decision of the audit committee not to approve the results and the subsequent refusal of the executive directors to withdraw the interim results and the executive directors` decision to replace the audit committee deliberately preventing the audit committee from discharging its fiduciary duty. The JSE has been informed of the non-compliance by the company to the Listings Requirements and the circumstances behind it. Johannesburg 24 January 2011 Designated Advisor Vunani Corporate Finance Date: 24/01/2011 07:48:47 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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