POST COMMENCEMENT FINANCE FACILITY EXTENSION SECURED & UPDATE ON PAYMENT OF SASA OBLIGATIONS
5 July 2023
The business rescue practitioners (BRPs) today announced that they have reached agreement with current funders to extend the post-commencement funding facility from 30 June to 21 July 2023 pending finalisation of negotiations aimed at obtaining a longer term extension.
The BRPs commented:
We thank our funders for their continued support. The ongoing funding does allow the Company to continue delivering on operational and business rescue requirements as in the past.
The BRPs also clarified recent comments around the payment of levies to the South African Sugar Association (SASA) and confirmed that all payment obligations from 1 April 2023 have been complied with.