NUTRITIONAL HOLDINGS LIMITED
(Registration number: 2004/002282/06)
(Incorporated in the Republic of South Africa) (Share Code: NUT ISIN Code: ZAE000298568)
("the Company" or "Nutritional Holdings")
FURTHER UPDATE ANNOUNCEMENT REGARDING LIQUIDATION PROCEEDINGS
Shareholders are referred to the previous SENS announcement dated 10 August 2022 regarding the opposition to granting of the final liquidation of the Company as well as the defence of the application for the provisional liquidation of Nutritional Foods Proprietary Limited ("NF").
In order to provide more clarity, shareholders are referred to the table below:
Details | Nutritional Holdings | Nutritional Foods |
Former director and | Mr Anthony (Tony) Richard | Mr Anthony (Tony) Richard |
shareholder who initiated | Pinfold through Pop-Up | Pinfold through Pop-Up |
the Liquidation application | Trading 39 (Pty) Ltd ("Pop- | |
Up") | ||
High Court and Judge | Kwa-Zulu Natal Local | North-West High Court |
Division | Mafikeng | |
Honourable Mr Justice | Judge Snyman | |
Lopes | ||
Shareholder contesting the | Mr Nico Oosthuizen | Mr Nico Oosthuizen CA(SA) |
Liquidation application | CA(SA) through Ontario | through Ontario Private Equity |
Private Equity (Pty) Ltd on | (Pty) Ltd on behalf of NF | |
behalf of the Company | ||
Terms and Conditions of | Kurt Knoop has been | The court hearing was held on |
Liquidation order | appointed as liquidator. | 11 August 2022 and the matter |
An application is being | was successfully postponed to | |
made to set aside the final | 16 February 2023 | |
liquidation order as | ||
detailed on SENS on 10 | ||
August 2022. | ||
Finalisation of Liquidation | The matter is being | As above |
opposed and application | ||
made to set the order | ||
aside | ||
Expected distribution to | If successful, no distribution | Unknown at this point in time |
shareholders | would be expected to | |
unsecured creditors or | ||
shareholders. | ||
Assets held | Shares in NF and | Property, Plant and Equipment |
Ukusekela | from which the food | |
manufacturing operations are | ||
conducted as a going | ||
concern |
Loan and security | Loan from Pop Up, | Shareholder loan from |
secured by a notarial | Nutritional Holdings | |
bond, procedural | ||
outcome thereto is being | ||
investigated and | ||
challenged at present. |
Shareholders will be advised on any further progress regarding the above matters.
By order of the Board
Durban
18 August 2022
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Nutritional Holdings Limited published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 15:43:10 UTC.