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GO LIFE INTERNATIONAL LIMITED - Update on Fin Info, Changes to Board, Change in Co Secretary & Management Co & Renewal of Cautionary Announcement
2021/05/04 12:00:00Download PDF Stock report
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
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