Planit Technology Holdings has survived an urgent application for liquidation by previous directors and vendors of the company.
An urgent application for the liquidation of Planit Technology had been lodged in the Pretoria Supreme Court.
Planit CEO Dale Packham says the dispute arose from an alleged R7.4 million loan due to former Planit and Orbes directors Johan Coetzee and Andre Potgieter.
Packham maintains the loan was subject to profit warranties, which he says were not met.
The application was withdrawn by Coetzee and Potgieter along with a tender of costs.
The case appeared on the roll yesterday, the same day as the release of Planit`s interim results, which reflected an operating loss of R7 million, on a R13.5 million turnover.
The Planit share price traded unchanged at 5c by 10am today.
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