Western Roads Upgrade Project – Achievement of Commercial Acceptance
Western Roads Upgrade Project – Achievement of Commercial Acceptance WILSON BAYLY HOLMES - OVCON LIMITED Building and civil engineering contractors (Registration no. 1982/011014/06) ISIN No: ZAE 000009932 Share code: WBO (“WBHO”, “the Group” or “the Company”) WESTERN ROADS UPGRADE PROJECT – ACHIEVEMENT OF COMMERCIAL ACCEPTANCE Shareholders are referred to the Summarised Audited Consolidated Financial Statements for the year ended 30 June 2021, released on 3 September 2021, which referred to the Western Roads Upgrade Project (“WRU”). WBHO is pleased to advise shareholders that the Group was notified that AECOM, the client appointed Independent Reviewer of the WRU Project, has today issued project-wide Commercial Acceptance of the WRU Project effective the 30 September 2021. This is an important milestone evidencing the completion of the physical and commercial administrative components of the WRU project. The achievement of Commercial Acceptance will result in the return of performance securities that were issued by the Group to guarantee the performance obligations of the project, final milestone payment and a decisive point in achieving final completion of the Western Roads Upgrade Project which has had a significant negative impact on the Group over the past three financial years. By order of the board Johannesburg 14 October 2021 Sponsor: Investec Bank Limited Date: 14-10-2021 04:46:00 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.