Tongaat Hulett Limited: Notice to Shareholders Regarding the Monthly Report on the Status of the Business Rescue Proceedings of the Company - InsidEntity
Shareholders are referred to the SENS announcement released on 27 October 2022, wherein the Company advised that it had commenced voluntary business rescue proceedings and the subsequent announcements about such business rescue proceedings.
By section 132(3)(a) and section 132(3)(b) of the Companies Act 71 of 2008, when the business rescue proceedings of a company have not been concluded within three months of the date on which they commenced, the business rescue practitioners are required to:
prepare a report on the progress of the business rescue proceedings, and update it at the end of each subsequent month until the end of the business rescue proceedings; and
deliver the report and each update to each affected person and the Companies and Intellectual Property Commission.
The December 2024 report (the twenty-fourth report) has been published and also includes an update on litigation matters in paragraph 2.3 of the report.
This report is available on the Company’s website, under the ‘Business Rescue’ tab, and accessible to shareholders via the link: https://www.tongaat.com/business-rescue/.