Shaft Sinkers Holdings Plc Update re Hillside Loan (8185I)
30 Mars 2015 - 9:19AM
UK Regulatory
TIDMSHFT
RNS Number : 8185I
Shaft Sinkers Holdings Plc
30 March 2015
SHAFT SINKERS HOLDINGS PLC ('Shaft Sinkers' or the
'Company')
Update re Hillside Loan
The Board of Shaft Sinkers announces that further to the
Company's announcement on 20 March 2015, the Company has been
unable to repay Hillside International Holdings Limited's GBP5M
loan and accrued interest.
Hillside has as a result exercised its security over the shares
of Shaft Sinkers Management Co. Limited and Shaft Sinkers Belgium,
leaving the Company with no assets of any real value.
In the circumstances, the Board will take steps to wind the
Company up as soon as practicable. Further announcements will be
made in due course.
For further information:
Marius Heyns: +27(0)11 445 4300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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