MURRAY & ROBERTS HOLDINGS LIMITED - Dispute Adjudication Board award in favour of Aveng against Genrec
MUR 201709200046A
Dispute Adjudication Board award in favour of Aveng against Genrec
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ADR Code: MURZY
ISIN: ZAE000073441
(“Murray & Roberts” or “Group”)
DISPUTE ADJUDICATION BOARD AWARD IN FAVOUR OF AVENG AGAINST
GENREC
Murray & Roberts refers to the SENS announcement released by Aveng Limited (“Aveng”) today
regarding the Dispute Adjudication Board (“DAB”) award against Genrec.
Murray & Roberts hereby advises that whilst the DAB award is against Genrec (a division of Murray
& Roberts Limited), in terms of a prior arbitration award in favour of Murray & Roberts, the
contractor, Mitsubishi-Hitachi Power Systems Africa Pty Ltd (“MHPSA”), is obliged to pay to Murray
& Roberts the amounts determined to be due to Aveng as and when Murray & Roberts incurs such
amounts. Murray & Roberts and MHPSA are studying the DAB award and are considering whether
to take the award on appeal.
As a result of the prior arbitration award referred to above, the DAB award in favour of Aveng results
in no cost or cash flow implication for Murray & Roberts.
Bedfordview
20 September 2017
Sponsor: Deutsche Securities (SA) Proprietary Limited
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