UBUBELE HOLDINGS LIMITED - Suspension Of Trade

Suspension Of Trade

UBUBELE HOLDINGS
Incorporated in the Republic of South Africa
(Registration number: 1998/011074/06)
Share code: UBU
ISIN Code: ZAE000144739
(“Ububele” or “the Company”)

SUSPENSION OF TRADE

Shareholders are referred to the SENS announcements dated
6 August 2014 and 22 August 2014 relating to the Company and
its subsidiaries entering into business rescue proceedings.

Shareholders are hereby advised that the appointed business
rescue practitioners (“BRPs”) for Ububele, being Messrs
Terblanche, Miller and Kritzinger of Mazars have applied to
the JSE Limited (“JSE”) to suspend trade in the Company’s
securities for the following reasons (“BRP Application”):

i)   the non-executive directors of the Company have all
     resigned;
ii) the board of directors of the Company is no longer
     functioning;
iii) the audit committee of the Company no longer operates and
     therefore cannot sign-off on the financial results of the
     Company;
iv) the Company is not in a position to incur audit fees and
     therefore cannot continue with the appointment of an
     auditor and cannot ensure the timeous preparation and
     release of financial information pursuant to the JSE
     Listings Requirements;
v)   the Land Bank, being the largest creditor of the Company,
     has perfected its securities in the Company and its
     subsidiaries;
vi) the BRPs have put in place and are implementing a sale
     process in terms of which it is hoped that all or a
     majority of the assets of the Company will be disposed
     of. As a result of this process, potential offerors will
     be given information which is not available to the
     general public, creating an inequality of information in
     the market.

Accordingly, shareholders are hereby advised that the JSE has
accepted the BRPs’ Application and has suspended trade in
Ububele shares with immediate effect.

26 August 2014
Cape Town

Designated Adviser
PSG Capital

Date: 26/08/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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