RAH - Real Africa Holdings Limited - Settlement of
RAH
RAH
RAH - Real Africa Holdings Limited - Settlement of Litigation
REAL AFRICA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/003919/06)
SHARE CODE: RAH
ISIN: ZAE000008702
("RAH")
RAH shareholders are referred to the announcement published on the
Securities Exchange News Service ("SENS") of the JSE Limited on Monday, 11
June 2007 in which shareholders where informed that a special purpose
committee ("the committee") was appointed by the Afrisun Leisure
Investments (Proprietary) Limited ("Afrisun") board to consider the merits
of the litigation brought against Sun International (South Africa) Limited
("SISA") and to reach a decision regarding the matter.
The committee, which was constituted on 7 March 2007, after taking legal
and financial advice, recommended to the Afrisun board that it is in the
best interests of the company to settle the matter. Accordingly Afrisun and
SISA have agreed to an out of court settlement of R110 million in exchange
for a withdrawal of the legal proceedings.
27 July 2007
Sponsor: Investec Bank
Date: 27/07/2007 16:00:02 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
