16 Aug - 2 min read

Renewal of cautionary Announcement

Renewal of cautionary Announcement

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
(“Labat” or “the Company” or “the Group”)

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the various cautionary announcements published on SENS in relation
to the disposal of Force Fuel (Pty) Limited (“Force Fuel”) and Force Fuel Properties (Pty) Limited
(“Force Fuel Properties”) (both in Business Rescue) and the negotiations with an Eastern Cape
based Pharmaceutical business to acquire 100% of its operations, the last of which was dated
2 July 2021.

The Force Fuel and Force Fuel Properties creditors’ meeting held on 1 April 2021 was adjourned in
order to prepare an amendment to the approved business plans to allow for the submission of bids
in a simpler format. The amendment to the approved business plans was published on the 15 June
2021 and the Section 155 meeting to approve the amendment was held on 24 June 2021. The
creditors present and entitled to vote approved the amendment unanimously and the practitioner
is proceeding to its implementation as approved.

It is expected that everything should be finalised by the end of September 2021 as the investors
have requested certain assurances which the Business Rescue Practitioner has undertaken to
secure prior to implementing the plan.

Shareholders are advised to continue exercising caution when trading in the Company’s shares
until such time as further announcements in respect of the above corporate actions are made.

JOHANNESBURG
16 August 2021

Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 16-08-2021 05:02:00
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.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Labat Africa Limited (JSE:LAB) when you join Listcorp.