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Update re business rescue proceedings of Alert Steel Holdings and further cautionary
announcement
ALERT STEEL HOLDINGS LIMITED (IN BUSINESS RESCUE)
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET ISIN: ZAE000170395
(“Holdings”)
Update re business rescue proceedings of Alert Steel Holdings and further cautionary
announcement
Shareholders are referred to the announcement released on SENS on 6 October 2014 regarding the
application by Mr JM Damons of Legae Trust (Pty) Ltd, the business rescue practitioner (“BRP”) of
Holdings, to the South Gauteng High Court to discontinue the business rescue proceedings of Holdings
and place the Holdings into liquidation.
The BRP has received additional information indicating that, barring the business rescue fees and
expenses, there are no further debts of the Holdings Company that could render it insolvent. This can
be attributed to the fact that an entity has acquired the claim of Mercantile Bank against Alert Steel
(Pty.) Limited, with the result that Holdings is no longer indebted to Mercantile Bank.
As the BRP is still investigating certain matters, shareholders are advised to continue to exercise
caution when dealing in the securities of Holdings until a further announcement has been made.
12 November 2014
Pretoria
Designated Adviser
Exchange Sponsors
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