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Notice to shareholders in terms of section 45(5) of the Companies Act
Insimbi Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB
ISIN: ZAE000116828
(“Insimbi” or “the Company”)
NOTICE TO SHAREHOLDERS IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT
Notice is hereby given to shareholders of the Company (“Shareholders”) in terms of section
45(5) of the Companies Act, 71 of 2008 (“Act”), that the board of directors of the Company
(“Board”) resolved, on 30 August 2022, to provide financial assistance to its various
subsidiaries in accordance with section 45(2) of the Act (“Financial Assistance”), pursuant
to the authority granted to the Board by Shareholders at the annual general meeting of the
Company held on 6 July 2022. Shareholders are further notified for purposes of section
45(5)(a) of the Act that the Financial Assistance exceeds one-tenth of 1% of the Company’s
net worth. No further action is required from Shareholders.
The Company is pleased to announce that Absa Bank Limited, acting through its Corporate
and Investment Banking Division (“ABSA”), has agreed to refinance existing loans in the group
that are nearing maturity. The Financial Assistance relates to loans advanced to the
subsidiaries of the Company. The Company, amongst others, provides security in respect of
the facilities to ABSA for the benefit of its subsidiaries, in the manner contemplated in section
45(2) of the Act.
In accordance with section 45(3)(b) of the Act, the Board is satisfied that immediately after
providing such financial assistance, the Company will satisfy the solvency and liquidity test
provided for in section 4 of the Act and that the terms under which the Financial Assistance is
proposed to be given are fair and reasonable to the Company.
Johannesburg
31 August 2022
Sponsor
PSG Capital
Date: 31-08-2022 02:44:00
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