RMH Holdings: Private Conversation Mishap and Dispute Update

RMH Holdings Limited, has released a statement regarding the dissemination of a private conversation between CEO Brian Roberts and CFO Ellen Marais. The recording, which was inadvertently made public on July 11, 2023, was part of a system test preceding the formal results call. RMH has since removed and replaced the recording, expressing regret for any inconvenience caused.

In their announcement, RMH acknowledges that the contents of the private conversation did not meet the standard of professionalism that the company and its employees consistently uphold. RMH extends its sincere apologies for any breach in professionalism that may have occurred.

The company emphasizes that no statements made during the private conversation were material or price sensitive. All information provided during the conversation aligned with what was shared with shareholders during the investor call and in the past. RMH affirms its commitment to transparency and maintaining the highest standards of disclosure.

RMH highlights that the ongoing dispute with Atterbury Property Holdings Proprietary Limited (APH) remains dynamic, with various potential outcomes under consideration. To clarify the current situation:

Dispute Details:

1. RMHAH’s Role:
   • RMH Asset Holding Company Proprietary Limited (RMHAH) has assumed the role of the lender by making payment under the RMHAH Guarantee to RMB.
   • RMH believes it has the right to decline APH’s request to settle the loan in shares and instead demand immediate repayment.
   • APH disputes RMHAH’s entitlement to refuse the share settlement.
2. Loan Repayment:
   • If it is ultimately determined that RMHAH’s position is valid and the loan amount of R487 million becomes immediately due and payable to RMH.
   • APH will need to manage its balance sheet effectively to access the required liquidity for repayment while meeting its other obligations.
3. Investment View:
   • RMH management maintains confidence in APH as a solid investment.

RMH assures its shareholders that updates will be provided to the market as the dispute progresses. The company remains committed to keeping stakeholders informed about significant developments in a timely manner.

Shareholders are urged to exercise caution when trading RMH shares, considering the ongoing nature of the dispute. RMH encourages shareholders to stay updated with official communications and exercise prudence in their investment decisions.