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In a press statement on Wednesday, Otsheleng said, “Your friend (PTY) Ltd is a corporate going concern and therefore has an obligation to account for its current and past financial undertakings. Gabz Fm continues to work hand in hand with its creditors who have not expressed any reservations as to the company’s ability to dispense with its financial obligations”.
He said the public notice was regrettable as it may be misleading in its inference to the company’s performance and has been overtaken by events.
“The radio station continues to be a viable business which has been operating profitably over the past 10 months,” Otsheleng’s statement said.
He said the restructuring exercise that was initiated 10 months ago continued to yield results that were indicative of the emergence of Gabz FM 96.2 as a premium brand that continued to receive tremendous support from listeners, clients and other stakeholders.
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