News

UPDATE ON LIQUIDATION PROCESS

The first and final liquidation and distribution account (“the account”) of Trencor Services Proprietary Limited, the wholly-owned subsidiary of Trencor Limited (“Trencor”), was recently confirmed by the Master of the High Court (“Master”). The liquidator is in the process of paying the liquidation dividend awarded to Trencor.

The process of the winding up of Trencor is progressing well but, before an account can be submitted to the Master, the following procedures which are all currently in-process must be completed:

• An audit by KPMG Inc for the year ended 31 December 2025;
• The finalisation of an agreement with Computershare to manage, inter alia, the dividend distribution in terms of the account and the previously unclaimed shareholder dividends;
• The finalisation of arrangements with various service providers to continue rendering services until such services are no longer required payments to be made to these service providers in the account.

Caution is given that the winding up process could be delayed by any unforeseen queries or issues which may be raised by the Master, SARS, CIPC or any other relevant third party.

However, if no such queries or issues are raised, it is anticipated that the liquidator could submit an account to the Master by about the end of June 2026. Once the Master’s queries, if any, regarding the account have been satisfactorily dealt with, permission to advertise the account should thereafter be received and, barring any objection thereto and subject to the Master’s timeous confirmation of the account, a final shareholders’ dividend should be paid within about two months after the inspection period has expired.

Further updates will be announced as and when deemed necessary.