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Status update on Avalloy Business Rescue Process - BK1P
BK One Limited
Incorporated in the Republic of South Africa
Registration Number: 2011/008103/06
Preference Share Code: BK1P
ISIN: ZAE000161352
“BK One” or “the Company”
Notice of adoption of business rescue plan for Avalloy (Proprietary) Limited (“Avalloy”)
Pursuant to the announcement released on SENS on 9 September 2013 in regard to the
placement of Avalloy into business rescue, the board of BK One hereby wishes to notify
shareholders that at the meetings of creditors and shareholders held at Independent Advisory on
13 September 2013 (“the meetings”), for purposes of considering and adopting the Business
Rescue Plan published by the Business Rescue Practitioner, Johannes Frederick Klopper, the
Business Rescue Plan was adopted by the statutory majorities of creditors and shareholders
present and voting at the meetings.
Business rescue proceedings commenced on 30 August 2013 and will end when the Business
Rescue Practitioner files a notice of substantial implementation in terms of Section 132(2)(c)(ii) of
the Companies Act, No 71 of 2008, as provided for in terms of the Business Rescue Plan. It is
anticipated that the Notice of Substantial Implementation will be filed within the next few days.
The board continue to liaise with the Business Rescue Practitioner regarding the finalisation of
the business rescue process and will revert to shareholders in due course with further
information.
Cape Town
20 September 2013
Debt Sponsor
Nedbank Capital, a division of Nedbank Limited
Date: 20/09/2013 01:41:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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