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Update on business rescue process of RBA - certain subsidiaries placed in business rescue
RBA HOLDINGS LIMITED (IN BUSINESS RESCUE)
(Incorporated in the Republic of South Africa)
(Registration number: 1999/009701/06)
(Share Code: RBA ISIN Code: ZAE000199642)
(“RBA” or “the Company”)
UPDATE ON BUSINESS RESCUE PROCESS OF RBA - CERTAIN SUBSIDIARIES
PLACED IN BUSINESS RESCUE
Shareholders are referred to the announcement of 11 March 2016.
The Business Rescue Practitioner (“BRP”) wishes to inform stakeholders that the boards of
certain subsidiaries of the Company (“Subsidiaries”) listed below (“Subsidiary Boards”) had
resolved, in terms of Section 129(1) of the Companies Act 71 of 2008, that the following
subsidiaries be placed under supervision and in business rescue on a voluntary basis:
1. RBA Executive Homes (Pty) Ltd;
2. RBA Homes (Pty) Ltd; and
3. RBA Building Projects (Pty) Ltd.
It is the Subsidiary Boards’ assessment that the Subsidiaries are financially distressed and
there appears to be a reasonable prospects of rescuing the Subsidiaries.
It was further resolved that Trevor Philip Glaum of Sanek Trust Recovery Services (Pty) Ltd
be appointed as Business Rescue Practitioner (“BRP”) in respect of the Subsidiaries.
30 March 2016
Braamfontein
Designated Adviser
Exchange Sponsors
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