SUN INTERNATIONAL LIMITED - Sun International enters into section 189 and section 189A consultation process regarding possible restructuring
SUI 201401290025A
Sun International enters into section 189 and section 189A consultation process regarding possible restructuring
Sun International Limited
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
(“Sun International” or “the company”)
Sun International enters into section 189 and section 189A consultation process regarding possible
restructuring
Sun International wishes to advise shareholders that a consultation process in terms of section 189
and section 189A of the Labour Relations Act, 66 of 1995, as amended, has been embarked upon
with organised labour and other relevant stakeholders regarding a possible need to restructure the
business.
Sun International has undertaken a comprehensive and thorough review of its South African
operations, with a focus on becoming more efficient and productive, improving revenues and
profitability. The review process has identified opportunities to achieve these objectives and
establish a stronger cash flow for the continued success of the company in the medium to long
term.
The initial assessment has identified approximately 1,700 positions that could potentially be affected
if a restructure were to be implemented.
The process in South Africa follows a restructuring of Sun International’s Chile-based operation
implemented in the last quarter of 2013.
29 January 2014
Sponsor:
Rand Merchant Bank (A division of First Rand Bank Limited)
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