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High Level presentation of the business rescue plan of the Stedone Group

High Level presentation of the business rescue plan of the Stedone Group. Presented by KJ Gribnitz To the Creditors meeting held on the 24 April 2013. Why were various companies placed in business rescue & what action will be taken?.

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High Level presentation of the business rescue plan of the Stedone Group

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  1. High Level presentation of thebusiness rescue plan of the Stedone Group Presented by KJ Gribnitz To the Creditors meeting held on the 24 April 2013

  2. Why were various companies placed in business rescue & what action will be taken? Was managed as a group regardless of it being separate companies Reorganise the assets and the focus operations on making money again Introduce strict capital management techniques Increase the current profitability of contracts Sureties signed for other group companies Protect the assets & contract while in BRP Dispose of non core assets & fixed costs Many Intergroup loans which can be demanded Place a moratorium & may compromise debt Consolidate the assets where necessary Assets and liabilities in different companies Restructure the funding of the balance sheet and Instil financial discipline Create a consolidated group with equity in a new holding company Main business units carry risk for all other entities

  3. Overview of the different phases and the time lines of the turnaround plan 0 to 4 months 1 to 6 months 1 to 9 months 4 to 9 months Phase 1 Phase 2 Phase 3 Phase 4 Business Rescue Restructure Operations Corporate Re-organisation Entrenchment Phase Establish a new culture Compliance with Act Improve financial reports Consolidate the group Obtain new work Stop SARS hold on funds Merge skills & contracts Corporate Governance Re-launch the company Stop ongoing losses Resource optimization Create risk committee Prepare 3 year plan Raise working capital Re-focus the business Compliance with Act Communication plan Create incentive scheme Appoint a new board Hand over the company

  4. Remuneration of the SBRP for the Stedone Group • StedoneDevelopments (Pty) Ltd (In Business Rescue) • R 1 600,00 per hour exclusive of VAT with a maxim of R 19 200,00 per day exclusive of VAT; • StedoneCivils (Pty) Ltd (In Business Rescue)  • R 1 600,00 per hour exclusive of VAT with a maxim of R 19 200,00 per day exclusive of VAT; • StedoneInvestments (Pty) Ltd (In Business Rescue) • R 1 200,00 per hour inclusive of VAT with a maxim of R 14 400,00 per day exclusive of VAT; • Hazycrest(Pty) Ltd (In Business Rescue)  • R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT; • FMG Admin Services CC (In Business Rescue)   • R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT; • StedStores CC (In Business Rescue) • R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 per day exclusive of VAT; • Dura Industrial Park CC (In Business Rescue) • R 200,00 per hour exclusive of VAT with a maxim of R 2 400,00 p/h inclusive of VAT; - • Contingent upon the companies paying salaries and wages for the month of April 2013, and hours will be charged as a total and allocated to the various companies as above.

  5. Thank you Karl Gribnitz

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