Update on RBA Holdings

Johannesburg - RBA Holdings [JSE:RBA] announced on Thursday that Christine Glover, Ken Hopkins and Pieter Lessingh have resigned as directors with immediate effect.

Lessingh has also resigned as director of all subsidiaries of RBA.

The company referred shareholders to the announcement of December 14 2016 as well as the previous announcements in this regard.

Trevor Glaum, the business rescue practitioner, announced that he would apply to the High Court of South Africa (Western Cape Division, Cape Town) for an order against RBA Developments (JHB) and against RBA Building Projects (in business rescue).

He would ask the court to discontinue the business rescue proceedings and convert the business rescue proceedings into liquidation proceedings, and that the respondents be placed in final liquidation.

The following directors of RBA have also resigned with immediate effect: Riaan Roos, Evita Nyandoro and Martin Nienaber. Nienaber has also resigned as director of all subsidiaries of RBA.

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