Platfields, a suspended platinum aspirant, told shareholders on Thursday a provisional liquidation
order had been granted against the company by the Gauteng High Court on
December 4, something that had apparently taken the directors
completely by surprise.
Platfields has run into numerous difficulties and lurched from crisis to crisis. It had told the market
in October of highly conditional plans to inject cash into the company
through the issuance of shares to the Fin Group Consortium and to lift a
JSE suspension due to not filing financial results since August 2013.
Platfields said its directors had "been advised" of the provisional liquidation order granted at the end of October and that a return date for a final liquidation order was set for December 14 this year.
"The directors are currently investigating the circumstances surrounding the application as they were not made aware of it. They will also be holding discussions with the Consortium, from whom an offer to subscribe for shares had been received, in order to determine the way forward," the company said.
"Shareholders will be kept appraised of developments in due course," it said.
Shareholders in the failed company have told BDlive of fruitless attempts to talk to the directors of the company to discuss its strategy and its future, with calls and messages unanswered.
Platfields CEO Bongani Mbindwane did not answer calls to his mobile phone to discuss the latest market update.
The proposed transaction would entail a change of directors and executive management, the issuance of shares and using the company to reverse list a company unrelated to the mining industry.
Platfields said its directors had "been advised" of the provisional liquidation order granted at the end of October and that a return date for a final liquidation order was set for December 14 this year.
"The directors are currently investigating the circumstances surrounding the application as they were not made aware of it. They will also be holding discussions with the Consortium, from whom an offer to subscribe for shares had been received, in order to determine the way forward," the company said.
"Shareholders will be kept appraised of developments in due course," it said.
Shareholders in the failed company have told BDlive of fruitless attempts to talk to the directors of the company to discuss its strategy and its future, with calls and messages unanswered.
Platfields CEO Bongani Mbindwane did not answer calls to his mobile phone to discuss the latest market update.
The proposed transaction would entail a change of directors and executive management, the issuance of shares and using the company to reverse list a company unrelated to the mining industry.
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