CHEMICAL SPECIALITIES LIMITED - Update regarding provisional liquidation and continued suspension of shares

Update regarding provisional liquidation and continued suspension of shares

Chemical Specialities Limited
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP &CSPP
ISIN: ZAE000109427 & ZAE000184305
("Chemspec" or "the Company")

Update regarding provisional liquidation and continued suspension
of shares

Shareholders are referred to the announcements released on SENS on
3 August 2015 and 11 September 2015, regarding the Company being
placed into provisional liquidation on 5 August 2015. The Joint
Provisional Liquidators (“Liquidators”) appointed by the Master of
the High Court Durban are: Eugene Nel, Thami Mshengu, Roselyn Noel
and Selby Ntsibane.    The Liquidators appointments were made final
on the 18th November 2015.

“The Liquidators have extended their powers in terms of Section 386
of the Companies Act and pursuant thereto are engaged in selling
stock, assets and collecting the debtors of the Company.”

It is reported that 95% of the assets have now been sold and the
Liquidators are in the process of compiling the statutory report to
creditors and members, which report will be posted on the website
early next year. (www.chemliq.co.za)

Shareholders are advised that the liquidation process is ongoing
and that the trading in the shares of the company remains
suspended.

Durban
11 December 2015

Designated Advisor:
Grindrod Bank Limited

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