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CROOKES BROTHERS LIMITED - Notice in terms of Section 45

Release Date: 27/08/2015 15:01
Code(s): CKS     PDF:  
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Notice in terms of Section 45

CROOKES BROTHERS LIMITED

(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS       ISIN: ZAE000001434
(“Crookes” 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 Crookes are referred to the special resolution tabled and approved
at the Annual General Meeting held on 31 July 2015, authorising directors in terms of
Section 45 of the Companies Act, 2008 (Act 71 of 2008) (“the Act”) to provide direct
or indirect financial assistance to any company or corporation which is related 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 provides 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) to be provided
to the related or inter-related companies may exceed 1/10th of 1% of the Company’s
net worth as at the approval date of this notification.


Renishaw
27 August 2015

Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)

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