22-MAY-2089 18:55 FROM GDLK GOLK ‘TO 8866621251 P.B1@2 Geyser, Du Toit, Louw LL Kitching Inc ATTORNEYS @ NOTARIES @ CONVEYANGERS PROKUREURS © NOTARISSE @ AKTEVERVAARDISERS 4 EL OVGEE YS 380 Jabu Ndlovu Street PO Bors00 MHA KOPPERS PIETERMARITZBURG Fault! 2200 Doce 34 FAX: 08 666 21251 ourrer: AJLG/dz/E251a Dear Sirs EDWAFIN (IN LIQUIDATION) Tel. (033) 394 09178 Fax (033) 24771 vost Guapastan7 Goshen are Padaen pate: 22/5/2009 1. The Honourable Mr Justice Skinner has granted a provisional order of liquidation herein. We will endeavour to obtain a copy of the order and make it available to you shortly. 2, The effect of the order is: 2.1 that control of the company is removed from its current directors; 2.2 that for the moment the Master of the High Court is placed in control; 23 — the Master of the High Court is likely to appoint provisianal liquidators to take control of the company and its at . Such appointments usually take place within 48 hours — which effectively will be by Monday aftemoon 25° May 2009. 3. As previously indicated we are of the view that the Master Is likely to appoint at least four persons as liquidators but it could be more. 4. tis extremely important that all creditors including debenture holders should, as far as possible, participate in the process by nominating @ person or persons to be considered by the Master for such appointment and to do so immediately. We may mention that the policy is to make appointments based upon the largest amount of support which any individual person or persons may receive either by way of the number of persons supporting them and/or the amount of the claim for the persons who thus support the nominee. Bronulator: Gayeor Du Toit Lou 6 Kitching int seri ue aT Roghmoen sscasars Pema DieMewrmiscion =o eertr SEoRGEODUTON BAIS unnEN) ENE TRToWESrNOCIrRETORA) SroeeS 1 SER Corse Gian cow ousTahls SALLE OWTASWEREY SourTeN pa)22-MAY-2089 18:56 FROM GDLK TO 92866621251 10, In addition the Master currently has a policy to appoint (in an estate of this sizo) at Jeast two previously disadvantaged persons as part of the liquidation team. Many of those persons do not have any experience in dealing with matters of this nature. The writer has previously indicated that both himself ac well as Mr Piorro Berrange have been approached to make ourselves available as liquidators and we continue to be available to do so should creditors wish to support our respective or separate appointments. It is thus extremely important that all creditors including debenture holders carefully consider the position and nominate a person or persons of their choice to be so appointed to ensure that the liquidation process is implemented properly and effectively. We draw your attention to the fact that the provisional liquidators have powers. Those powers include, taking possession of all the assets of Edwafin which will incorporate control of subsidiary companies. The liquidators also have wide powers in terms of the Companies Act 1973 (Act 61 of 1973) to conduct a structured investigation into the reasons for the demise of the company (including the group). Further whether assets have been unlawfully removed ae well as to determine whether any person or persons are liable towards the company elther because of the manner in which they ran the affairs of the company alternatively for any other reason. The liquidators are further required to investigate whether any provisions of the Companies Act 1973 as well as the Insolvency Act 1936 (Act 24 of 1936) have been transgrassed and to report their findings to the Master. In conveying this information to you we record that we will have no difficulty f you were to place it an your website. If there is any further information which we are able to fumish you are at liberty to make contact with us. Yours faithfully JLGEYSER Emall: ageyser@adlk.co.za P.@282 Prpetee Gamer Dutabbas&Kichlegls | timetaeatisuatncas ——Pilomn Diino fe. sexarosen GEORGE DD TOTRA Lia STE) WACOM) ANDRE THITCHING 8 PROC PRETORA] Sai Raha ee7e Banos na Louw BALL ATA NES GEYSER (Const Yo. CONTRIBUTOR USADOS. | SO MRETSARE GRVEAUs nh aS outanwentersourrent sata) TOTAL P.@2