Cutting Works (Pty) Ltd
GLENRAND M.I.B. LIMITED
Share code: GMB
ISIN number: ZAE000018529
APPLICATION FOR LEAVE TO APPEAL - LAPPEMAN DIAMOND CUTTING WORKS (PTY) LTD
FOLLOWING UPON THE UNSUCCESSFUL APPEAL BY LAPPEMAN DIAMOND CUTTING WORKS
(PTY) LIMITED ("LAPPEMAN") AGAINST GLENRAND MIB LIMITED IN THE FULL BENCH OF
THE WITWATERSRAND LOCAL DIVISION OF THE HIGH COURT OF SOUTH AFRICA, LAPPEMAN
HAS NOW GIVEN NOTICE OF ITS APPLICATION FOR LEAVE TO APPEAL TO THE SUPREME
COURT OF APPEAL.
GLENRAND MIB LIMITED WAS SUCCESSFUL IN THE ORIGINAL COURT ACTION THAT TOOK
PLACE DURING 1998. THE COURT ACTIONS TO DATE AS WELL AS THE CURRENT
APPLICATION FOR LEAVE TO APPEAL HAS BEEN AND IS CONCERNED MAINLY WITH THE
MERITS OF LAPPEMAN'S MAIN CLAIM. THE ASPECT RELATING TO QUANTUM AND WHICH
WOULD DEAL WITH THE PROOF OF LAPPEMAN'S ALLEGED LOSS HAS NOT FORMED PART OF
THE LITIGATION THUS FAR AND IS ACCORDINGLY ALSO NOT THE SUBJECT OF THE
PRESENT APPLICATION FOR LEAVE TO APPEAL.
ISSUED FOR: Glenrand M.I.B Limited
CONTACT: Michele Harpur (Business phone 011 329 1566)
ISSUED BY: Nedcor Investment Bank Limited
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