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4SIGHT HOLDINGS LIMITED - Subsidiary Business Rescue Application

Release Date: 15/10/2019 08:55
Code(s): 4SI     PDF:  
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Subsidiary Business Rescue Application

4SIGHT HOLDINGS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: C148335 C1/GBL)
(“4Sight” or “the Company”)
ISIN Code: MU0557S00001       JSE Code: 4SI

SUBSIDIARY BUSINESS RESCUE APPLICATION

Shareholders of 4Sight are advised that the Board of 4Sight have been informed that the directors of
Foursight Holdings Proprietary Limited (“FH”), the intermediary investment holding company of some
of the South African subsidiaries, have passed a resolution placing FH into business rescue in terms of
section 129 of the Companies Act, 71 of 2008 (as amended) ("the Act") as:

(a)    it is financially distressed; and
(b)    there appears a reasonable prospect of its rescue.

FH is an intermediate holding company, within the 4Sight group, and is heavily dependent on the
cash flows in the form of dividends and management fees from its profitable subsidiary companies.
These flows of funds have not materialised thus placing FH in financial distress.

The Board is of the view that (on a consolidated basis) the FH operating subsidiaries within the 4Sight
group are profitable businesses, which generate large cash reserves.


Mauritius
15 October 2019


Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 15/10/2019 08:55:00
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