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eXtract GROUP LIMITED - Update on restructure and debt repayment

Release Date: 09/02/2018 14:10
Code(s): EXG     PDF:  
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Update on restructure and debt repayment

EXTRACT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/011672/06)
JSE share code: EXG    ISIN: ZAE000246013
(“eXtract” or “the Company”)


UPDATE ON RESTRUCTURE AND DEBT REPAYMENT


Shareholders are referred to the announcements released on SENS (the last of which was released on SENS on
4 December 2017) regarding the restructure of eXtract and the disposal of excess assets by eXtract, as detailed in the
circular issued to eXtract shareholders on 11 July 2017 (the “restructure and excess asset disposal”).

eXtract is pleased to announce that as part of the restructure and excess asset disposal, eXtract has repaid all bank
debt, including its term debt and general banking facilities. In addition to repaying its bank debt, eXtract has repaid
R100 million of the R250 million debt owed by eXtract to enX Group Limited.

Executive Chairman, Mr Bernard Swanepoel commented: “This is a significant milestone for eXtract given the
difficulties the Company and the contract mining industry have faced in recent months and years. The Company
continues to realise the value of its remaining assets via disposal, to service the remaining enX debt as well as follow
its stated strategy of considering investment opportunities on a case-by-case basis.”

9 February 2018


Sponsor
Java Capital

Date: 09/02/2018 02:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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