BASIL READ HOLDINGS LIMITED - Consideration of the Basil Read Limited Business Rescue Plan

Release Date: 06/09/2018 10:55
Code(s): BSR
Wrap Text
Consideration of the Basil Read Limited Business Rescue Plan

Basil Read Holdings Limited
Incorporated in the Republic of South Africa
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE 000029781
(“Basil Read Holdings” or “the company”)


Shareholders are referred to the announcements released on
SENS on Wednesday, 20 June 2018, Friday 17 August 2018 and
Tuesday, 21 August 2018 and are advised that the meeting with
creditors to consider the business rescue plan was convened
and held on Monday, 03 September 2018, in terms of section
151 of the Companies Act and, upon a motion being put by the
Industrial Development Corporation of South Africa Limited
("the IDC") to the meeting, it was unanimously agreed to
adjourn the meeting.

The rationale for the adjournment is for affected persons to
have more time to fully engage and consider the proposals
made in the business rescue plan prior to such plan being
tabled for consideration and approval by the Company's

Notice has been given to affected parties that the meeting
will be reconvened on Thursday, 27 September 2018 for
creditors to consider and approve the proposed business
rescue plan.

Further updates on the business rescue will be provided in
due course.

6 September 2018

Acting Company secretary
Noxolo Loate

JSE Sponsor
Grindrod Bank Limited

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