SHFT Shaft Sink

TIDMSHFT

RNS Number : 8185I

Shaft Sinkers Holdings Plc

30 March 2015

SHAFT SINKERS HOLDINGS PLC ('Shaft Sinkers' or the 'Company')

Update re Hillside Loan

The Board of Shaft Sinkers announces that further to the Company's announcement on 20 March 2015, the Company has been unable to repay Hillside International Holdings Limited's GBP5M loan and accrued interest.

Hillside has as a result exercised its security over the shares of Shaft Sinkers Management Co. Limited and Shaft Sinkers Belgium, leaving the Company with no assets of any real value.

In the circumstances, the Board will take steps to wind the Company up as soon as practicable. Further announcements will be made in due course.

For further information:

Marius Heyns: +27(0)11 445 4300

This information is provided by RNS

The company news service from the London Stock Exchange

END

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