/ 24 August 2000

BANK PULLS PLUG ON ROADCORP

TRANSPORT group Roadcorp Ltd said it had asked the Johannesburg bourse to suspend trade in its shares after its bankers, Nedbank, demanded payment it owes them. ”The directors of Roadcorp have received a written confirmation from its main commercial bankers, Nedbank, in terms of which Nedbank withdraws its support of Roadcorp and the Roadcorp subsidiaries and demands repayment of all amounts owing to Nedbank,” the company said in a statement. It planned to make a further announcement in due course on the outcome of current negotiations with its bankers and funders. – Reuters