To view the PDF file, sign up for a MySharenet subscription.

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

Release Date: 11/03/2016 09:29
Code(s): CSP CSPP     PDF:  
Wrap Text
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, 11 September 2015 and 10 December 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.”

We confirm that the second meeting of creditors was held on
Wednesday the 3rd February 2016, whereat further creditors’ claims
were proved, resolutions adopted and the Liquidators statutory
report was tabled.

The report and resolutions can be downloaded from the website
address: 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.

A recovery for shareholders appears to be extremely unlikely.


Pietermaritzburg
11 March 2016

Designated Advisor:
Grindrod Bank Limited

Date: 11/03/2016 09:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story