PHUMELELA GAMING AND LEISURE LIMITED - Renewal of cautionary announcement

PHUMELELA GAMING AND LEISURE LIMITED - Renewal of cautionary announcement
8 April 2020 15:30

Renewal of cautionary announcement:
Renewal of cautionary announcement

Phumelela Gaming & Leisure Limited
(Registration number 1997/016610/06)
(Incorporated in the Republic of South Africa)
Share Code: PHM ISIN: ZAE000039269
(“Phumelela” or “the Company” or “the Group”)

Renewal of cautionary announcement

The Company remains under cautionary due to:

a. continuing negotiations with the Gauteng Member of the Executive Council responsible for
Economic Development, Agriculture and Environment and the Gauteng Gambling Board
pertaining to amendments to the Gauteng Gambling Regulations; and

b. discussions and negotiations regarding the restructure and/or refinancing of its business.

These negotiations and discussions are being pursued urgently and are ongoing, despite the national
lockdown, the outcome of which may have a material effect on the price of the Company’s securities.

Shareholders are advised to continue to exercise caution when dealing in the Company's securities.


Turffontein
8 April 2020

Sponsor: Investec Bank

Date: 08-04-2020 03:30:00
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How many times have they now put out a cautionary? It avoids the inevitable I suppose until they totally run out of cash.

Phumelela as it exists now wont be standing by the end of 2020.

This virus is just the final nail in their long self built coffin.

Racing will survive all be it on a much smaller scale.

Gambling on Horse racing at TAB' is also possibly damaged forever.

the top structure of all racing entities will hang on until the bitter end but ultimately they will fall.

A prediction, they will need to go to the well to pay April salaries.

....they now have a hail mary shot of getting the 3% back.....that is if Gauteng govt choose to save them....:huh: