Rebosis enters business rescue; suspends trading on the JSE

Real estate investment trust Rebosis has entered business rescue following the board’s decision that the group is financially distressed in terms of the Companies Act, 71 of 2008. The JSE has further granted the company its approval for the suspension of trading in its ordinary shares and A-ordinary shares with immediate effect.

It noted in a Sens statement issued on Friday that its management and board deemed its 6-month cashflow vulnerable to significant risks including: Rebosis says that the South African Reserve Bank’s indication of more interest rate hikes means that the best option, to ensure its survival, is to commence business rescue and implement a business rescue plan as contemplated in Chapter 6 of the Companies Act.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Homeland security scraps disinformation board attacked by RepublicansThe Department of Homeland Security has disbanded a board established to counter false information after Republicans assailed it as a vehicle to censor conservative viewpoints. That's because the Democrats are the source of disinformation. You guys are 2 months behind in your reporting.
Source: dailymaverick - 🏆 3. / 84 Read more »