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BRIEF-Village Main Reef says to place Cons Murch mine in provisional liquidation
February 9, 2015 / 2:22 PM / 3 years ago

BRIEF-Village Main Reef says to place Cons Murch mine in provisional liquidation

Feb 9 (Reuters) - Village Main Reef Ltd :

* Notice of discontinuing of business rescue proceedings of Consmurch and the placing of the company under liquidation

* Clifford Maredi has been appointed by master of high court as a provisional liquidator

* Effective date of provisional liquidation is 5 February 2015.

* Directors of Cons Murch placed company under business rescue in terms of section 129 of Companies Act on 15 December 2014 after a transaction to sell company lapsed

* Placing Cons Murch in provisional liquidation will allow retention of mining rights owned by co

* Negotiated transaction to sell shares lapsed in December 2014 when stibium was unable to obtain funding

* Will also allow liquidators an opportunity to ensure safety of essential services employees and security of company assets Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +44 207 542 1810)

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