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BELL EQUIPMENT LIMITED - Notice of provision of direct or indirect financial assistance in terms of Section 45 of the Companies Act

Release Date: 18/05/2015 17:48
Code(s): BEL     PDF:  
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Notice of provision of direct or indirect financial assistance in terms of Section 45 of the Companies Act

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1968/013656/06
Share code: BEL ISIN: ZAE000028304
("Bell" 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 Bell are referred to the special resolution tabled and approved at the
Annual General Meeting held on 4 May 2015, authorising directors in terms of
Section 45 of the Companies Act No 71 of 2008 ("the Act") to provide direct or
indirect financial assistance to any company or corporation which is related to or
inter-related to the Company. The Board has authorised the Company in terms of
Section 45(2) of the Act to provide or to continue to provide direct or indirect
financial assistance (including by way of loans or guarantees) to related or inter-
related companies in the normal course of business.

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 would be given would be fair and reasonable to the Company.
Shareholders are advised that the financial assistance (loan finance or guarantees) to
be provided to the related or inter-related companies exceeds 1/10th of 1% of the
Company’s net worth as at the approval date of this notification.



Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Richards Bay
18th May 2015

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