JCD
JCD
JCD - JCI Limited - Press Release
JCI LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1894/000854/06
Share code: JCD ISIN: ZAE000039681 (Suspended)
("JCI") or ("the Company")
PRESS RELEASE
Hemispherx Biopharma a US based pharmaceutical company instituted a civil action
in the United States against Brett Kebble, JCI, Hennie Buitendag and certain
other parties for an interdict in terms of the United States Securities and
Exchange Act and for punitive damages.
Hemispherx Biopharma inter alia alleges that its shares were manipulated "for
purposes of bringing about a hostile takeover of the company".
The matter was dismissed by the Florida District Court and Hemispherx Biopharma
appealed. More than two years after the matter was argued, the Eleventh Circuit
Court of Appeal in Florida has now handed down its judgement by affirming the
lower Court`s decision insofar as the interdict is concerned but finding that
Hemispherx Biopharma can proceed with the damages claim, as it falls outside an
arbitration agreement between the parties.
This merely means that the lawsuit can proceed in Florida and no judgement was
given or opinion expressed on the merits of the matter.
Hemispherx Biopharma recently reached a settlement with all the other South
African defendants but for Brett Kebble, JCI and Hennie Buitendag.
JCI is considering all its legal options and is taking advice. Further
announcements will follow in due course.
9 January 2009
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 12/01/2009 10:02:01 Produced by the JSE SENS Department.
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