AFRICAN BANK INVESTMENTS LIMITED - Quarterly Update in terms of Section 1.10(c) of the JSE Listings Requirements

Quarterly Update in terms of Section 1.10(c) of the JSE Listings Requirements



AFRICAN BANK INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
(“ABIL” or “the Company”)


QUARTERLY UPDATE IN TERMS OF SECTION 1.10(C) OF THE JSE LISTINGS REQUIREMENTS


1.   Stakeholders are referred to the statement regarding the Curatorship of African Bank Limited made by the then
     Governor of South African Reserve Bank, Ms Gill Marcus, on 10 August 2014, and the previous quarterly updates
     released by the Company on the Stock Exchange News Service (“SENS”) on 30 September 2015, 8 January 2016 and
     5 April 2016.

2.   The board of directors of ABIL (“the Board”) issues a quarterly update as required in terms of section 1.10(c) of the
     JSE Limited Listings Requirements, in order to keep investors apprised on developments in the Company and the
     ABIL group.

3.   Since the Company voluntarily commenced business rescue proceedings on 5 June 2015, the joint business rescue
     practitioners (“BRPs”) updated stakeholders as required in terms of the Companies Act, 2008 (Act 71 of 2008), as
     amended (“Companies Act”) and have issued reports to creditors on a regular basis. These reports are available on
     the Company’s investor relations website at www.abil.co.za.

4.   The significant developments this quarter as announced on SENS are:
     o   on 18 April 2016 creditors adopted the proposed Business Rescue Plan;

     o   on 22 April 2016, the Condensed Audited Financial Results for the year-ended 30 September 2014, the
         Condensed Reviewed Financial Results for the 6 month period ended 31 March 2015 and the Condensed
         Audited Financial Results for the year-ended 30 September 2015, were released on SENS;

     o   on 19 May 2016, a Notice of substantial implementation of business rescue was filed at CIPC, ending the
         business rescue proceedings; and thereafter

     o   as announced on SENS on 25 May 2016, control of the Company reverted to the Board.

5.   The interim financial statements for the six months ended 31 March 2016 were released on SENS on 30 June 2016.


By order of the Board.

Midrand
30 June 2016

Sponsor
Merchantec Capital

Date: 30/06/2016 05:29:00 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.