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ARB HOLDINGS LIMITED - Notice in terms of section 45(5) of the Companies Act, no. 71 of 2008 (the Act)

Release Date: 14/05/2020 16:00
Code(s): ARH     PDF:  
 
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Notice in terms of section 45(5) of the Companies Act, no. 71 of 2008 (the Act)

ARB HOLDINGS LIMITED

(Registration number: 1986/002975/06)

Share code: ARH

ISIN: ZAE000109435

(“ARB”)

NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT, NO. 71 OF 2008 (the Act)

On 5 November 2019, the shareholders of ARB approved a special resolution authorising the board of
directors of ARB (“the Board”) to provide financial assistance to related and inter-related companies.

The Board has, pursuant to the above authorisation at a board meeting held on 13 May 2020 and in
accordance with section 45 of the Act, resolved to provide guarantees to related and inter-related
companies, to secure the banking facilities required by such companies. In accordance with that
resolution securities are now in the process of being signed to give effect to the banking facilities with
Nedbank for the company’s subsidiary Eurolux to secure an increase in these facilities as well as to
secure the Eurolux property loan agreement to acquire the Radiant properties. The minority
shareholders are also providing guarantees to Nedbank for their 40% share of these facilities and
loans.

The total financial assistance provided to related and inter-related companies in terms of resolutions
passed by the Board during the current financial year exceeds one-tenth of one per cent of ARB’s net
worth.

Should shareholders have any queries, please contact the group financial director.
Durban

14 May 2020

Sponsor
Grindrod Bank Limited

Date: 14-05-2020 04:00:00
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