Enhanced Investments - Financial Portal

Update on rationalising non-core operations

Published: 2022-07-06 08:45:46 ET

Insimbi Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB ISIN: ZAE000116828
(“Insimbi” or “the Company”)


UPDATE ON RATIONALISING NON-CORE OPERATIONS


As part of Insimbi’s ongoing drive to improve efficiency and move away from certain non-
performing marginal activities, the board recently resolved to exit the Company’s non-core
operation, Insimbi Plastics Proprietary Limited (“Insimbi Plastics”) and to dispose of its assets
and/or business.

The board believes this to be in the best interests of the Company and its shareholders. The
closure and disposal of Insimbi Plastics will streamline the operations of the group, ensuring
an improved platform to pursue continued growth.

The Company has been engaging with labour unions regarding the closure and expects the
relevant processes to be finalised by the end of August 2022.

The Company will now commence active engagement on the sale of the assets and/or
business of Insimbi Plastics and shareholders will be updated in this regard in due course.

Johannesburg
6 July 2022

Sponsor
PSG Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.