PWK/PIK - Pick n Pay Holdings Limited/Pick n Pay Stores Limited - Pick n
PWK PIK
PWK PIK
PWK/PIK - Pick n Pay Holdings Limited/Pick n Pay Stores Limited - Pick n
Pay welcomes appeal judgment regarding the sale of Franklins to Metcash
Pick n Pay Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK ISIN code: ZAE000005724
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK ISIN code: ZAE000005443
PICK N PAY WELCOMES APPEAL JUDGMENT REGARDING THE SALE OF FRANKLINS TO
METCASH
Pick n Pay today welcomed the decision by the Full Court of the Federal
Court of Australia dismissing the appeal by the Australian Competition and
Consumer Commission against the sale of Franklins to Metcash, with legal
costs being awarded to Pick n Pay.
The sale of Franklins to Metcash was completed on 30 September 2011.
The Chairman of Pick n Pay, Gareth Ackerman, said: "We are delighted that
the Appeal Court of Australia has vindicated our position. From the outset
we believed in the merits of our legal arguments. The successful conclusion
of the legal process allows us to focus our resources on Pick n Pay`s core
market."
For more information please contact:
Nick Badminton on +27 21 658 1441
By order of the board
Cape Town
30 November 2011
Sponsor:
Investec Bank Limited
Date: 30/11/2011 11:26:59 Produced by the JSE SENS Department.
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