SBL
SBL
SBL - Sable Holdings Limited - Press Release
SABLE HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1968/010636/06)
("SABLE" OR "THE COMPANY")
SHARE CODE: SBL & ISIN: ZAE000006383
Press Release
The Board of Sable wishes to correct certain misconceptions which may have
arisen in the light of the recent publicity surrounding investigations by the
Financial Services Board ("FSB"), and the Specialised Commercial Crime Unit of
the South African Police Services ("SAPS") into alleged pension fund abuse
involving, inter alia, the so-called Sable Industrial Pension Fund.
Neither Sable nor any of its directors are the subject of any investigation by
the FSB or SAPS into the circumstances surrounding the repatriation of the
surplus of the Sable Industrial Pension Fund to the principal employer, or any
related transactions.
Sable divested itself of its shareholding in Midmacor Industries Limited, the
principal employer of the Sable Industrial Pension Fund, in 1996. The Sable
Industrial Pension Fund was formerly the KNJ Group Pension Fund. The fund was
renamed in 1995 when Sable acquired its shareholding in Midmacor Industries
Limited. It was then envisaged that a number of Sable subsidiaries would be
placed under Midmacor Industries Limited, and it was decided to rename the fund
to reflect an affinity to this structure. The structure was not implemented and
neither Sable nor any of its present subsidiaries participated in the fund.
Randburg
5 September 2007
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 05/09/2007 15:04:01 Produced by the JSE SENS Department.
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