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ALERT STEEL HOLDINGS LIMITED - Update re business rescue proceedings of Holdings and further cautionary announcement

Release Date: 25/07/2016 15:10
Code(s): AET     PDF:  
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Update re business rescue proceedings of Holdings and further cautionary announcement

ALERT STEEL HOLDINGS LIMITED (IN BUSINESS RESCUE)
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET ISIN: ZAE000170395
(“Holdings”)


Update re business rescue proceedings of Holdings and further cautionary announcement

Shareholders are referred to the announcement released on SENS on 14 June 2016 regarding the
business rescue proceedings of Holdings.

Holdings is still under business rescue.

The trading in the shares of Holdings on the JSE Limited will remain suspended.

Shareholders are advised that there is currently a section 417 enquiry taking place in Alert Steel (Pty)
Limited (in liquidation). The business rescue practitioner of Holdings has lodged a claim on behalf of
Holdings in Alert Steel (Pty) Limited (in liquidation) for over R 120 million only to be proven if there is
no danger of contribution. The outcome of the section 417 enquiry may have the effect that certain
security claims against Alert Steel (Pty) Limited (in liquidation) are set aside, in which case Holdings
will share in any concurrent dividend that flows from the liquidation of Alert Steel (Pty) Limited (in
liquidation).

Shareholders are advised to continue to exercise caution when dealing in the securities of Holdings
until a further announcement has been made.

25 July 2016
Pretoria


Designated Adviser
Exchange Sponsors

Date: 25/07/2016 03:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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