CMO
CMO
CMO - Chrometco - Update Announcement
CHROMETCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
JSE Code: CMO ISIN: ZAE000070249
("Chrometco" or "the Company")
UPDATE ANNOUNCEMENT
The Board of Directors is pleased to announce the outcome of the Litigation
claim instituted against the company by a former director of a subsidiary,
Ingonyama Holdings (Pty) Ltd, has been dismissed with costs. Accordingly
contingent liabilities, amounting to approximately R500,000, previously
disclosed with regard to future legal costs expected to be incurred in relation
in defending this action are no longer applicable.
Furthermore, shareholders are advised that the Section 11 Application, to the
DME for the conversion of the Old Order Mining Right to a New Mining Order Right
with regard to the sale of Rooderand, being the last condition precedent, has
been lodged.
10 November 2008
Johannesburg
Designated Advisor
River Group
Date: 10/11/2008 10:44:43 Produced by the JSE SENS Department.
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