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Tongaat Hulett Limited (JSE:TON) News - Delay in release of provisional annual financial results for the financial year ended 31 March 2022
TONGAAT HULETT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1892/000610/06
Share code: TON
ISIN ZAE000096541
(“Tongaat Hulett” or “the Company”)
DELAY IN RELEASE OF PROVISIONAL ANNUAL FINANCIAL RESULTS FOR THE
FINANCIAL YEAR ENDED 31 MARCH 2022
Shareholders are referred to the further cautionary announcement released by the Company
on SENS on 31 May 2022 and the subsequent announcements released by the Company on
SENS on 3 June 2022 and 10 June 2022, relating to the Takeover Regulation Panel’s ruling
in relation to the proposed recapitalisation of Tongaat Hulett.
Tongaat Hulett continues to proactively engage with stakeholders regarding a possible capital
raise transaction to reach a sustainable solution for the Tongaat Hulett group. There continues
to be support from various stakeholders who recognise the critical social impact that Tongaat
Hulett has in South Africa and across the SADC region.
The lenders remain supportive of Tongaat Hulett and the Company is currently engaging with
them to provide liquidity which will allow further time to progress a comprehensive restructure
solution. Shareholders are advised that despite all efforts, this process is going to extend
beyond 30 June 2022, and accordingly, Tongaat Hulett will not be able to release its
provisional annual financial results for the year ended 31 March 2022 by 30 June 2022, as
required by the JSE Listings Requirements.
Every effort is being made to finalise the engagements with the lenders and other
stakeholders. Shareholders will be updated on further developments as and when they arise.
Tongaat
15 June 2022
Sponsor:
PSG Capital
Date: 15-06-2022 03:00:00
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