RBA HOLDINGS LIMITED - Notification to the Shareholders of the Company in terms of section 141(2)(a)(i) of the Companies Act No. 71 of 2008

Notification to the Shareholders of the Company in terms of section 141(2)(a)(i) of the Companies Act No. 71 of 2008

 RBA HOLDINGS LIMITED (IN BUSINESS RESCUE)
 (Incorporated in the Republic of South Africa)
 (Registration number: 1999/009701/06)
 (Share Code: RBA ISIN Code: ZAE000199642)
 (“RBA” or “the Company”)



Notification to the Shareholders of the Company in terms of section 141(2)(a)(i) of the Companies Act
No. 71 of 2008 (as amended) (“the Act”) as read with regulations 7 and 124 of the Act


1.     Shareholders of the Company are hereby notified that the business rescue practitioner, Trevor Glaum,
       has concluded that there is no reasonable prospect for the Company to be rescued and that the
       business rescue practitioner has accordingly applied to the High Court of South Africa (Western Cape
       Division, Cape Town) for an order discontinuing the business rescue proceedings and placing the
       Company into liquidation.


2.     The business rescue practitioner has relied on the following in support of the application:


       2.1.    RBA Developments (JHB) Proprietary Limited, the main operating company in the RBA group
               of companies, was placed in final liquidation on 6 February 2017, as was RBA Building
               Projects Proprietary Limited, the construction arm of the RBA group;


       2.2.    The Company is both factually and commercially insolvent; and


       2.3.    The Company has no access to funding.


3.     Kindly be advised that the application will be heard at the High Court, Cape Town on Wednesday, 22
       March 2017 at 10h00 or so soon thereafter as counsel may be heard and not Tuesday, 28 February
       2017 as mentioned in the SENS announcement released yesterday.


4.     Further be advised that affected persons, such as shareholders, are entitled to participate in the
       proceedings, which proceedings may result in their rights being affected.


5.     Copies of the application are available from Juliette de Hutton of Edward Nathan Sonnenbergs Inc. on
       021 410 2500 or jdehutton@ensafrica.com as follows:


       5.1.    An electronic copy of the application will be transmitted by electronic mail to all shareholders
               of the Company on request by the shareholder for such a copy;


       5.2.    A hard copy of the application will be made available to all shareholders of the Company, free
               of charge, on request by the shareholder for such a copy of the application; and


       5.3.    A copy of the application will shortly be available on the website www.rbaholdings.co.za

2 March 2017
Braamfontein



Designated Adviser
Exchange Sponsors

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