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Gencor - Press Release
Gencor Limited
Incorporated in the Republic of South Africa
Registration number 1895/001232/06
Share code : GMF
ISIN code : ZAE000013066
("Gencor" or "the Company")
The following letter has been sent to Gencor Limited shareholders:
"Dear shareholder,
This is to inform you of steps the Gencor Board is taking to provide
shareholders and others with accurate and concise information regarding the
issues facing the company.
Gencor`s proposed unbundling, the claims lodged with the company for alleged
asbestos-related diseases and an application by lawyers acting for the claimants
to interdict the unbundling, have caused a great deal of interest from
shareholders, the public and the media.
Unfortunately not all of the media reporting, or the comment from people outside
the company, has been properly informed or factually accurate. Some inaccurate
statements have caused misinformation to be circulated and thus caused concern
to shareholders and the market.
The directors believe it is important to keep stakeholders properly informed on
these issues.
Gencor is therefore undertaking an information programme to help shareholders
and the public understand the issues by giving them the facts and the background
they need to understand Gencor`s position.
This programme will have two main thrusts:
- An information website (gencorinfo.co.za) is being set up. This website will
contain factual information and background on issues surrounding the company,
the unbundling and the legal and other processes which are or will be underway.
It will also enable Gencor, where necessary, to address misunderstandings which
may arise and to correct, where necessary, inaccurate or distorted statements.
- The second thrust of this information programme is the publication in selected
media of statements in which the facts will be conveyed and the issues
addressed.
In the interest of shareholders, the directors have consistently aimed at taking
a reasonable, responsible and prudent approach in dealing with these issues.
Shareholders will therefore appreciate that Gencor cannot fight legal battles
through the media. However, because of potentially damaging distortions and
inaccuracies, the directors believe they have no option but to embark on an
information programme to bring the true facts to the attention of its
shareholders and the broader public.
The information programme is designed solely to place before shareholders and
the broader public the information they need to understand the issues about
which so much is currently being said and reported.
We attach copy of the first advert, and trust that you will find this
information programme useful.
Yours sincerely,
AS du Plessis
Chairman"
Date: 04/11/2002 07:06:00 AM Produced by the JSE SENS Department
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