Group Five raises R1.2bn from sale of assets since start of business rescue

Group Five on Tuesday said it had sold more plant and assets that are not being utilised in the ordinary course of business as the company is disposing of its assets.

Numerous of these disposals are subject to final agreements or conditions precedent in order to be concluded. In March, Group Five resolved to place its companies into business rescue and had applied to the Johannesburg Stock Exchange to suspend trading in its shares after several other direct and indirect subsidiaries experienced cash flow difficulties.

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