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
Share

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

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

,