To view the PDF file, sign up for a MySharenet subscription.

CROOKES BROTHERS LIMITED - Notice of provision of direct or indirect financial assistance in terms of section 45 of the Companies Act

Release Date: 23/12/2013 15:20
Code(s): CKS     PDF:  
Wrap Text
Notice of provision of direct or indirect financial assistance in terms of section 45 of the Companies Act

CROOKES BROTHERS LIMITED

(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS       ISIN: ZAE000001434
(“Crookes” or “the Company”)

NOTICE OF PROVISION OF DIRECT OR INDIRECT FINANCIAL ASSISTANCE IN
TERMS OF SECTION 45 OF THE COMPANIES ACT NO 71 OF 2008

Shareholders of Crookes are referred to the special resolution tabled and approved
at the Annual General Meeting held on 26 July 2013, authorising directors in terms of
Section 45 of the Companies Act, 2008 (Act 71 of 2008) (“the Act”) to provide direct
or indirect financial assistance to any company or corporation which is related or
inter-related to the Company. In terms of Section 45 (2) of the Act, the Board has
authorised the Company to provide loan finance, in the normal course of business, to
a Crookes’ subsidiary company.

The Board has confirmed that, after considering the reasonably foreseeable financial
circumstances of the Company, it is satisfied that, immediately after it provided such
financial assistance, the Company would satisfy the solvency and liquidity test, as
contemplated in terms of Section 4 of the Act and that the terms under which such
financial assistance was given were fair and reasonable to the Company.
Shareholders are advised that the loan finance provided to the subsidiary company
exceeds 1/10th of 1% of the Company’s net worth as at the approval date of the
provision of the loan.

Renishaw
23 December 2013

Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)

Date: 23/12/2013 03:20:00 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.

Share This Story