Gencor Limited - Statement
Gencor Limited
ISIN: ZAE000013066
Share code: GMF
GENCOR AND THE CASE AGAINST CAPE PLC
An attorney representing the Afrika claimants in the Cape Plc case, purported to
serve claim forms on Gencor on 12 November 2002. This follows permission being
granted on 15 October in the English High Court, in a private hearing, to name
Gencor as a co-defendant in the proceedings against Cape Plc in the United
Kingdom.
The Afrika claimants now appear to intend to pursue Gencor in England and not in
South Africa. Unlike Cape Plc, Gencor is a South African company and it takes
issue with the necessity for South African citizens to sue a South African
company in England. Gencor has already pointed out that it is not in the
ordinary course subject to the jurisdiction of English courts and that it is
unaware of any grounds, which could properly justify its joinder to the Cape Plc
proceedings in the United Kingdom.
Last year, Cape Plc reached a settlement with the group of Afrika claimants.
Lawyers for the Afrika claimants are apparently re-opening the
case because Cape has failed to pay the first tranche of the settlement on the
due date.
Gencor is taking legal advice, including that of senior legal counsel, and will
respond appropriately.
ENDS
For more information please refer to the Gencor website:
www.gencorinfo.co.za (refer to "Briefings") or contact:
Michael Acott: 082-821-5656
Michelle Robertson 082-774-6584
Francois Baird 082-551-4943
Date: 14/11/2002 08:30:00 AM Produced by the JSE SENS Department
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