Tongaat Hulett: Business Rescue Update

Imagery Source: Tongaat Hulett Limited
Information Source: JSE SENS
Tongaat Hulett
Shareholders are referred to the Stock Exchange News Service ("SENS") announcement released on Friday, 12 January 2024, confirming the adoption of the approved business rescue plan ("the Adopted Plan"). Copies of the Adopted Plan are available for download on the Company website a www.tongaat.com under the 'Business Rescue' tab. Defined terms from the Adopted Plan refer, unless otherwise defined in this SENS.
The Adopted Plan contemplates the acquisition of the Lender Group Claims by Vision Investments 155 Proprietary Limited (registration number 2023/178789/07)("Vision"). THL and the Business Rescue Practitioners ("BRPS") have received confirmation that Vision has settled the balance of the purchase consideration due to the Lender Group.
This milestone in the implementation of the Adopted Plan directly supports the continued viability of THL’s operational businesses and advances the successful execution of the Adopted Plan, in alignment with the rights and interests of stakeholders and Affected Persons, as provided for in Chapter 6 of the Companies Act No. 71 of 2008.
Shareholders and Affected Persons are also reminded that all documents regarding the business rescue proceedings of the Company that have been circulated to all known Affected Persons are available on the THL website under the ‘Business Rescue’ tab https://www.tongaat.com/businessrescue/.
For the full document, click the link below
Tongaat Hulett Limited
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