MUR - Murray & Roberts Holdings Limited - Middle East order book
MUR
MUR
MUR - Murray & Roberts Holdings Limited - Middle East order book
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN Code: ZAE000073441
("Murray & Roberts" or "Group")
MIDDLE EAST ORDER BOOK
Shareholders are advised that the Al Habtoor Murray & Roberts Takenaka Joint
Venture (HMRT) has reached mutual agreement with Dubai Civil Aviation to
withdraw from its contract to construct Dubai International Airport Concourse 3.
HMRT was awarded the contract in December 2008 and has been working with DCA to
finalise acceptable contract terms since then.
The Parties have concluded that a mutually acceptable contract is not currently
possible.
The Group`s 40% share of this contract was worth about R5,0 billion in revenues
over the next three year period. Limited work has been undertaken on the project
to date and the Parties will work together to reach a final account.
HMRT successfully delivered the Concourse 2 and Terminal 3 project which was
opened last year.
This announcement has not been reviewed or reported on by the Group`s auditors.
While withdrawal from this project is not expected to have a material impact on
the Group`s results for the financial year to 30 June 2009, the Directors meet
at end-June 2009 to consider and approve the Group`s third quarter financial
results and review market conditions and budget assessments for the year to 30
June 2009 and should it prove necessary, will issue a business update
thereafter.
Bedfordview
16 April 2009
Sponsor:
Deutsche Securities (SA) (Pty) Ltd
Date: 16/04/2009 07:51:32 Produced by the JSE SENS Department.
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