GROUP FIVE LIMITED - Monthly update on the business rescue proceedings, disposals, post commencement finance and business rescue plan

Monthly update on the business rescue proceedings, disposals, post commencement finance and business rescue plan

Group Five Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/000032/06)
Share code: GRF ISIN: ZAE000027405
("Group Five" or "the Company" or "the Group")

MONTHLY UPDATE ON THE BUSINESS RESCUE PROCEEDINGS, DISPOSALS, POST
COMMENCEMENT FINANCE AND BUSINESS RESCUE PLAN

Shareholders are referred to the previous SENS announcements covering the monthly
updates of the business rescue proceedings.

With regards to the implementation of the Group Five Limited business rescue plan, the sale
process for the creditor-encumbered subsidiary, Everite, is ongoing. The business rescue
process for the only other material asset held by the company, being Group Five Construction
(Pty) Limited (“Construction”) is dealt with below.

With regards to the implementation of the legally separate Construction business rescue plan,
the sale processes related to its subsidiary companies, operating divisions, properties and/or
shareholdings remains on track and in accordance with the business rescue plan. Of particular
note in the period under review is the entering into of binding agreements in respect of the
sale of the SMEIP businesses and the sale of the Intertoll Europe businesses. Gross
cumulative proceeds since the commencement of business rescue of R2,3bn will be realisable
from binding sale agreements entered into to date. A material portion of this remains subject
to regulatory or other conditions precedent in order to be concluded.

Shareholders are further advised that an update on the business rescue proceedings for both
the Company and Construction is available on the Company’s website (www.g5.co.za)


28 October 2019

Sponsor

Nedbank Corporate and Investment Banking

Date: 28/10/2019 11:38:00
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