Notice in terms of Section 45(5) of the Companies Act No 71 of 2008
IMPERIAL LOGISTICS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1946/021048/06)
JSE Share Code: IPL
NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT NO 71 OF 2008
1. On 26 November 2019 and pursuant to special resolutions adopted by the
shareholders of the Company on 30 October 2019 in terms of section
45(5)(3)(a)(ii) of the Companies Act No 71 of 2008 (the Act) approving
same and in terms of section 45(2) of the Act, the Board of the Company
(the Board) adopted the required resolutions to authorise the Company
to enter into:
1.1 a ZAR revolving credit facility agreement and a BWP term loan
facility with certain local banks to refinance existing facilities;
1.2 a USD multicurrency revolving credit facility agreement with
certain international banks to refinance an existing USD facility,
and to provide financial assistance to various of its subsidiaries by,
inter alia, guaranteeing the indebtedness of such subsidiaries under
the aforementioned facilities, in the normal course of business.
2. The Board has satisfied itself that the terms under which the financial
assistance is to be given are fair and reasonable, and that the Company
would satisfy the solvency and liquidity test after extending such
facilities, in terms of section 45 read with section 4 of the Act.
Shareholders are advised that the total facility value, when utilised,
will exceed 1/10th of 1% of the Company’s net worth as at the date of
the Board meeting of 26 November 2019.
By order of the Board
10 December 2019
JSE Sponsor: Merrill Lynch South Africa (Pty) Limited
Date: 10-12-2019 04:04:00
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