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

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. In terms of Section
45(2) of the Act, the Board has authorised the Company to
provide the following guarantees in respect of the
liabilities of its subsidiaries to commercial banks and
institutions in the normal course of business:

    -    Sunlyn (Pty) Ltd – R175 million
    -    Bidvest Bank Ltd – R40 million

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 guarantees provided for the subsidiary exceed 1/10th
of 1% of the Company’s net worth as at the approval date
of the provision of the guarantee.


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

Richards Bay
17 August 2015

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