To view the PDF file, sign up for a MySharenet subscription.

SALUNGANO GROUP LIMITED - Renewal of Cautionary Announcements

Release Date: 12/04/2024 09:00
Code(s): SLG     PDF:  
Wrap Text
Renewal of Cautionary Announcements

Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: SLG   ISIN: ZAE000306890
("Salungano Group" or "the Company")


Shareholders are referred to:

-   the cautionary announcement released on SENS on 25 August 2023 and the subsequent renewals thereof,
    the last of which was dated 27 February 2023, regarding the voluntary business rescue of Wescoal Mining
    Proprietary Limited ("Wescoal Mining"), a wholly-owned subsidiary of the Company ("Wescoal Mining
    Cautionary"); and

-   the further cautionary announcement released on SENS on 27 February 2024 regarding the application to
    place Keaton Mining Proprietary Limited ("Keaton Mining"), a wholly-owned subsidiary of the Company's
    wholly-owned subsidiary, Keaton Energy Holdings Limited ("Keaton Energy Holdings") under supervision
    and to commence business rescue proceedings ("Business Rescue Application") ("Keaton Mining

Shareholders are:

-   with respect to the Wescoal Mining Cautionary, further referred to the announcement released on SENS
    on 29 February 2024 wherein they were advised that the business rescue practitioners have requested
    approval from creditors to postpone the publication of the proposed business rescue plan, as provided for
    in the Companies Act, 2008 (Act 71 of 2008), as amended ("Companies Act"), from 29 February 2024 to
    28 June 2024 due to the complexity of the affairs and operations of Wescoal Mining; and

-   with respect to the Keaton Mining Cautionary, further referred to the announcement released on SENS on
    3 April 2024 (and using the terms defined therein unless otherwise stated) wherein they were advised that a
    notice of appeal was to be lodged on 3 April 2024 against the judgment in terms of which the Business
    Rescue Application had been dismissed.

As the outcome of the business rescue processes relating to Wescoal Mining, and the appeal relating to the
dismissal of the Business Rescue Application relating to Keaton Mining may have a material effect on the price
of Salungano Group's securities, shareholders are advised to continue to exercise caution when dealing in the
Company's securities until a further announcement is made.

12 April 2024

Merchantec Capital

Date: 12-04-2024 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story