ADR
ADR
ADR - Adcorp Holdings Limited - Announcement
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139
("the Company")
ANNOUNCEMENT
Shareholders are hereby advised that the parties to a recent dispute regarding
the suspension of the Group Chief Financial Officer, Faunce Burd, as well as
certain other senior employees have agreed to refer this matter for private
arbitration before a senior advocate. Accordingly, the employee`s urgent
application brought against the Company in the Labour Court has been withdrawn.
In terms of the arbitration agreement, the parties have agreed not to make any
further public statements concerning the merits of the dispute pending the
outcome of this arbitration. The arbitration is scheduled to commence on Friday,
6 November 2009.
Bryanston
29 October 2009
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 29/10/2009 14:00:38 Produced by the JSE SENS Department.
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