GDN
GDN
GDN - Gooderson Leisure Corporation - Cancellation Of Acquisition Of The
Sanbonani Hotel And Shareblocks
GOODERSON LEISURE CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1972/004241/06)
JSE Share code: GDN ISIN: ZAE000084984
("GDN")
CANCELLATION OF ACQUISITION OF THE SANBONANI HOTEL AND SHAREBLOCKS
Shareholders are referred to the announcement dated 6 February 2008 in which
it was announced that Gooderson, through, a wholly owned subsidiary, has
purchased the business of the Sanbonani hotel and certain shares in shareblock
relating to Sanbonani Holiday Spa ("Sanbonani acquisitions").
Subsequent to the SENS announcement, Gooderson became aware of an ongoing
legal dispute between Sanbonani and certain of the shareblock owners. After
consultation between all the parties it became evident that the outstanding
legal disputes will not be resolved in the short term.
On advice of its legal advisor Gooderson has therefore decided to cancel the
Sanbonani acquisitions.
Durban
14 March 2008
Designated Adviser Exchange Sponsors
Auditors Grant Thornton
Attorneys Berkowitz, Cohen, Wartzki
Date: 14/03/2008 09:40:01 Produced by the JSE SENS Department.
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