Crux Technologies shareholders will have to wait longer for news on the potential winding up of the company.
Crux announced in April that it would become a cash shell after disposing of the contracting business of subsidiary Crux Information Technologies to a consortium.
The proceeds of the sale, a maximum of R16 million, would be used to settle its net liabilities, with the balance to be distributed to shareholders on the delisting and winding up of the group.
A circular was to be posted to shareholders on 20 May, but the company said later that the conditions precedent were still being finalised.
Crux issued another notice yesterday saying the conditions precedent had still not been concluded and the shareholder circular had thus not been finalised for posting.
The group said in April that the disposal could lead to the delisting and winding up of Crux.
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