ALERT STEEL HOLDINGS LIMITED - Update on Business rescue proceedings of Holdings and Renewal of Cautionary Announcements

Update on Business rescue proceedings of Holdings and Renewal of  Cautionary Announcements

ALERT STEEL HOLDINGS LIMITED (IN BUSINESS RESCUE)
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET ISIN: ZAE000092847
(“Holdings”)


UPDATE ON BUSINESS RESCUE PROCEEDINGS OF HOLDINGS AND RENEWAL OF
CAUTIONARY ANNOUNCEMENTS

1. Shareholders are referred to the previous announcements released on SENS relating to the business
rescue proceedings of Alert Steel (Pty) Ltd (‘Alert Steel’), a wholly owned subsidiary of Holdings and
Holdings (collectively ‘the companies’) in terms of Section 129 of the Companies Act, 2008 (‘the Act’),
as amended.

2. According to Section 150 of the Companies Act, 71 of 2008, the business rescue practitioner of
Holdings is obliged to publish the proposed Business Rescue Plan (‘BRP’) for Holdings within 25 days
of appointment, therefore by 3 July 2014.

3. The business rescue practitioner seeks approval from creditors to extend the period, as the outcome
of the Alert Steel creditors meeting on 4 July 2014 is essential for the BRP of Holdings. The major
creditor of Holdings, Mercantile Bank, supports an extension to 11 July 2014. The consent of creditors
is required to postpone the publication of the BRP until the said date. Creditors are requested to contact
the      business     rescue      practitioner,    Mr       Juanito     Damons,        by    e-mail     at
admin@businessrescuepartner.co.za in this regard.

4. Shareholders are advised to continue to exercise caution when dealing in Holdings’ securities until
further information with regards to the status of the business rescue processes in respect of both
companies is provided.

26 June 2014
Pretoria


Designated Adviser
Exchange Sponsors.

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