Enterprise Risk Management Limited - Cautionary An
Enterprise Risk Management Limited - Cautionary Announcement and Profit Warning
ENTERPRISE RISK MANAGEMENT LIMITED
(Registration number 1995/001603/06)
("ERM")
(JSE Code: ERM & ISIN Code: ZAE000037701)
Cautionary Announcement and Profit Warning
The Board of Directors of the Company is considering various corporate actions,
including the disposal of the underlying business to third parties who may be
able to maximise the value of such business. Accordingly, shareholders are
advised to exercise caution when dealing in the Company`s securities until a
further announcement is made.
Shareholders are further advised that at the interim reporting period, being the
eight months to 31 August 2002, the Company will report results significantly
less than those that were reported on at the previous interim reporting period.
In order to protect shareholder value, the Company continues to aggressively
pursue claims that the Company has against third parties, and to pursue claims
for compensatory damages where appropriate.
Umgeni Water has been granted a further postponement of the trial date to early
in year 2003.
The City of Johannesburg has disputed liability in respect of certain invoices,
most of which were included in the results for the year ended December 2001. The
matter has now been referred to arbitration, and will be heard on 28 October
2002. Our legal team is confident that this debtor has no basis for denying
liability on these invoices. The quantum of these invoices is some R40 million
(excluding VAT).
11 September 2002
SPONSOR
EXCHANGE SPONSORS (PTY) LIMITED
(Registration number: 1999/024433/07)
Date: 11/09/2002 05:20:00 PM Produced by the JSE SENS Department
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