African Bank issued a Renewal Of Cautionary Announcement, Further Update On The Curatorship Of African Bank And Proposed Restructuring. The main points of the SENS are that they will not be splitting off the "bad bank" to the SARB and will just wind down the bad book in the current company. The "HoldCo" will not be listed as soon as originally proposed and will only be listed when "New Co" gets traction and all the listing requirements have been met. The curators didn't want the listing process to delay the process of getting the bank back on its feet. Our feel in the office is that if you own ABIL shares at the moment, you won't receive anything for them, you will just get a discount on the purchase of "HoldCo" when it lists. So you will have to put money in to realise any benefit from your current shares, and that would be assuming that the share price does not drop on listing day.