| Wed 13 Feb 2008, 8:01 | | SUL - SAB&T Ubuntu Awarded R350 Million Management Contract |
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SUL
SUL
SUL - SAB&T Ubuntu Awarded R350 Million Management Contract
SAB&T UBUNTU HOLDINGS LIMITED
(formerly Abrina 4166 Limited)
(Incorporated in the Republic of South Africa)
Registration number : 2006/029387/06
JSE Share Code: "SUL"
ISIN Code : ZAE000088837
SAB&T UBUNTU AWARDED R350 MILLION MANAGEMENT CONTRACT
Shareholders are referred to the cautionary announcement made on SENS on 31
January 2008.
The board is pleased to announce that SAB&T Business Innovations Group (Pty)
Ltd, a wholly owned subsidiary of SAB&T Ubuntu Holdings (SUHL), was awarded a
five year contract of approximately R350 milllion to provide project, human
resource, procurement and financial management services for the Department of
Education`s Kha Ri Gude mass literacy campaign.
The company has managed a number of large scale projects for clients including
the Department of Justice, the Independent Electoral Commission, Department of
Water Affairs and Forestry and the National Department of Education.
According to Bashier Adam, Chief Executive Officer of the Group, the contract
marks the ascension of the company to the next level. "Our service innovation
and product differentiation to date has given us the opportunity to prove
ourselves yet again in a project that will be in the spotlight for some time to
come. Furthermore, we will continue to contribute to the upliftment of South
Africa and its people - one of our strategic goals".
Jeff van Rooyen, non executive Chairman, says the successful bid, in the face of
fierce competition, bears testimony to the calibre of the SAB&T team, quality of
service and professional track record of the company.
Further to the cautionary announcement dated 31 January 2008 shareholders are
advised that negotiations are still in progress which, if successfully
concluded may have a material effect on the price of the Company`s securities.
Accordingly, shareholders are advised to continue exercising caution when
dealing in the company`s securities until a full announcement is made.
Centurion
13 February 2008
Designated Advisor
River Group
Date: 13/02/2008 08:01:44 Produced by the JSE SENS Department.
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