DLG - Dialogue Group Holdings Limited - Voluntary notice of settlement agreement
DLG
DLG
DLG - Dialogue Group Holdings Limited - Voluntary notice of settlement agreement
concluded to terminate client contract
DIALOGUE GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2005/039219/06)
ISIN: ZAE000083820
JSE Share Code: DLG
("Dialogue" or "the Company")
VOLUNTARY NOTICE OF SETTLEMENT AGREEMENT CONCLUDED TO TERMINATE CLIENT CONTRACT
Dialogue holds 50% of the issued share capital of Sibize International Calling
(Proprietary) Limited ("Sibize") as an Investment in a Joint Venture.
Sibize has a client that contributes a material portion of Sibize`s annual
turnover(the "Client") based on a five year contract, ending 31 May 2012, to
provide the Client with outsourced call-centre services (the "Agreement"). The
Client issued Sibize with a notice of early termination of the Agreement as the
Client has decided to in-source the call-centre. Sibize has agreed to such
early termination subject to specific terms as detailed in a settlement
agreement (the "Settlement Agreement").
The Dialogue board anticipates that the Company will recover the carrying value
of its investment and therefore expects the Settlement Agreement to have no
significant financial effects on the Company.
Shareholders are referred to the previously released cautionary announcements,
the last of which was dated 10 June 2010, and are advised that negotiations are
still in progress in respect of another matter which, if successfully concluded,
may have a material effect on the price of Dialogue`s securities.
Johannesburg
9 July 2010
Designated Advisor: PSG Capital (Proprietary) Limited
Date: 09/07/2010 10:48:01 Produced by the JSE SENS Department.
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