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Update announcement
Protech Khuthele Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/024352/06)
Share code: PKH ISIN: ZAE 000101986
(“Protech” or “the Company”)
UPDATE ANNOUNCEMENT
The board of directors of Protech ("Board") would like to draw shareholders’ attention to the
announcement that was published on SENS on 30 May 2014, 6 June 2014 and 12 June 2014 in
which the shareholders were advised that Protech has begun with business rescue
proceedings as provided for by Section 129 of the Companies Act, 2008, as amended.
Shareholders are advised that Mr Gavin Gainsford, the appointed business rescue practitioner
has concluded that there is no reasonable prospects of rescuing Protech, Protech Khuthele
(Pty) Ltd and Protech Readymix (Pty) Ltd and is applying to Court for the business rescue
proceedings of these companies to be discontinued and for the companies to be placed under
liquidation.
In addition the Company is illiquid and unable to pay its debts as they become due and
payable. The Company cannot continue operating and incurring debts without a guaranteed
source of funding for the Company going forward. With this in mind the business rescue
practitioner had very little choice but discontinue the business rescue proceedings.
1 July 2014
Lanseria
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited
Date: 01/07/2014 09:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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