Shareholders are referred to the SENS announcements released over the past week relating to:
• the judgment of Honourable Judge Vahed dated 4 December 2023, under case number D4472/2023, in the matter between, inter alios, the Company, Tongaat Hulett Sugar South Africa (Pty) Ltd and the joint business rescue practitioners of the Company (‘the BRPs’) (which is referred to as the ‘Main Application’), in terms of which the applicants have applied for leave to appeal; and
• ‘The Urgent Applications’: o an urgent application launched on 5 December 2023 in the High Court of South Africa, KwaZulu Natal Local Division, Durban, (‘the Court’) under case number D13763/2023, by RCL Foods Sugar & Milling (Proprietary) Limited against, inter alios, the Company and the BRPs; o a further urgent application launched on 5 December 2023 in the Cou
The business rescue practitioners (BRPs) of financially distressed Tongaat Hulett have confirmed that creditors will vote and have the final say on the proposed rescue plan for the JSE-listed sugar producer and property group. The BRPs, Metis Strategic Advisors, were responding to questions from Moneyweb about the relevance of preferred bidder status in the business…
Tongaat Hulett's future continues to hang in the balance after delay of its rescue plan iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Embattled sugar manufacturer Tongaat Hulett has advised that the meeting for creditors to vote on the amended business rescue plans of the group, as well as two subsidiaries, has been moved to September 30.
The business rescue practitioners (BRPs) of Tongaat and subsidiaries Voermol Feeds and Tongaat Hulett Sugar South Africa convened a meeting of creditors on June 14, and voted unanimously in favour of the BRPs amending the business rescue plans to take into consideration recent development and to delay the voting on the plans.