Notice in Terms of Section 45(5) of the Companies Act 71 of 2008
Adapt IT Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/017276/06)
Share code: ADI ISIN: ZAE000113163
(“Adapt IT” or “the Company”)
NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008
In terms of the provisions of section 45(5) of the Companies Act, No 71 of 2008, as amended
(“Companies Act”), and pursuant to the special resolution passed at the annual general meeting of the
Company held on 24 November 2017 authorising the board of directors of Adapt IT (“Board”) to provide
direct or indirect financial assistance to, amongst others, inter-related companies, notification is hereby
given by the Company that the Board has adopted a resolution in terms of section 45(3)(b) of the
Companies Act authorising the Company to bind itself as surety for, and co-principal debtor with, its
wholly-owned subsidiary, Adapt IT Proprietary Limited (“Subsidiary”) in respect of all of the Subsidiary’s
facility obligations to Investec Bank Limited.
In accordance with section 45 of the Companies Act, the Board is satisfied and acknowledges that:
i. immediately after providing such financial assistance, the Company would have satisfied the
solvency and liquidity test as provided for in section 4 of the Companies Act; and
ii. the terms under which such financial assistance would be given are fair and reasonable to the
19 December 2017
Date: 19/12/2017 02:37:00 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.
Email this JSE Sens Item to a Friend.