CNBC Africa

Newsfeed

BRIEF-Basil Read Says Mining Business Entered Preferred Bidder Negotiations With Clients In S. Africa, Botswana

PUBLISHED: Thu, 01 Apr 2021 13:48:05 GMT

April 1 (Reuters) – Basil Read Holdings Ltd:

* JSE: BSR – UPDATE TO THE BASIL READ LIMITED BUSINESS RESCUE PLAN

* BASIL READ HOLDINGS LTD – MINING BUSINESS HAS ENTERED PREFERRED BIDDER NEGOTIATIONS WITH CLIENTS IN SOUTH AFRICA AND BOTSWANA

* BASIL READ HOLDINGS – AGGREGATE CONTINGENT LIABILITY IN FORM OF GUARANTEES REDUCED TO R119 MILLION VERSUS R1.1 BILLION AT BEGINNING OF RESCUE PROCEEDINGS

* BASIL READ HOLDINGS LTD – MINING BUSINESS NEGOTIATIONS WHEN CONCLUDED IN COMING WEEKS, WILL EFFECTIVELY INCREASE ORDER BOOK BY MORE THAN R1.5 BN

* BASIL READ HOLDINGS – BRL CONTINUES TO PURSUE CONTRACT CLAIMS AS IT RELIES HEAVILY ON CLAIMS PROCEEDS TO MEET ITS COMMITMENTS

* BASIL READ HOLDINGS LTD – FROM A BASIL READ HOLDINGS LIMITED PERSPECTIVE, IMPLEMENTATION OF BUSINESS RESCUE PLAN OF BASIL READ LIMITED CONTINUES

* BASIL READ HOLDINGS – BUSINESS RESCUE PRACTITIONERS REMAIN OF VIEW THAT FULL IMPLEMENTATION OF PLAN WILL ACHIEVE BETTER RESULT THAN LIQUIDATION

* BASIL READ HOLDINGS LTD – WILL NOT BE IN A POSITION TO RELEASE FINANCIAL RESULTS FOR PERIOD ENDING 31 DECEMBER 2020 Source text for Eikon: Further company coverage:

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html