GO LIFE INTERNATIONAL LIMITED - Update on Fin Info, Changes to Board, Change in Co Secretary & Management Co & Renewal of Cautionary Announcement2021/05/04 12:00:00
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Update on Fin Info, Changes to Board, Change in Co Secretary & Management Co & Renewal of Cautionary Announcement GO LIFE INTERNATIONAL LIMITED (Incorporated in the Republic of Mauritius) (Registration number: 098177 C1/GBL) Primary Listing SEM share code: GOLI.N0000 Secondary Listing JSE share code: GLI ISIN: MU0330N00004 (“the Company” or “Go Life”) UPDATE ON FINANCIAL INFORMATION, CHANGES TO THE BOARD, CHANGE IN COMPANY SECRETARY & MANAGEMENT COMPANY AND RENEWAL OF CAUTIONARY ANNOUNCEMENT UPDATE ON FINANCIAL INFORMATION Shareholders are referred to the previous cautionary announcements, the last of which was dated 18 March 2021 in which shareholders were advised that: 1. the properties of Bon Healthcare Properties were disposed of by the liquidators of the Calitz Trust following the sequestration of the Calitz Trust. These properties were initially acquired through an issuance of shares. 2. that this has necessitated the full impairment of the Company’s largest asset and has resulted in the significant deterioration of the Company’s financial position; and 3. that the Company is pursuing legal action in this matter. In addition, shareholders are referred to the announcement on SENS dated 3 July 2020 detailing the liquidation of its South African subsidiary Go Life Health Proprietary Limited (“GLH”) and are reminded that the carrying values relating thereto have also been impaired. The Company is finalising its annual financial statements for the year ended 2020. The public are hereby cautioned that the balance sheet has been completely eroded through these events and will require a recapitalisation. A further announcement will be made in due course. CHANGES TO THE BOARD In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Mr Mxolisi Motau (“Mxolisi”) has resigned as a Director and as the Chief Executive Officer (“CEO”) of the Company with effect from 29 April 2021. The Company will immediately commence with the process of appointing additional board members and a new CEO. Shareholders will be advised once these appointments have been made. CHANGE IN COMPANY SECRETARY & MANAGEMENT COMPANY Shareholders are advised that Apex Fund and Corporate Services (Mauritius) Ltd (“Apex”) has been appointed as the new management company and Company Secretary in Mauritius with effect from April 29, 2021. Apex will be nominating one independent Mauritian director for appointment to the Board and the name of the director will be announced in due course. RENEWAL OF CAUTIONARY Go Life shareholders are advised to continue to exercise caution when dealing in their securities until a further announcement is made and the audited annual financial results have been published. Go Life has its primary listing on the Stock Exchange Mauritius and a secondary listing on the AltX of the JSE. This notice is issued pursuant to SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The Board of Directors of Go Life accepts full responsibility for the accuracy of the information contained in this announcement. For and on behalf of the board Mauritius 4 May 2021 Executive Director: Non-Executive Directors: Mr Patrick Wysoczanski Mohamed Yusuf Sooklall Dr Peter Koll JSE Sponsor: Company secretary and management company: AcaciaCap Advisors Proprietary Limited Apex Fund and Corporate Services (Mauritius) Ltd Date: 04-05-2021 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.