Trans Hex To Counterclaim In Diamond Fields Intern
Trans Hex To Counterclaim In Diamond Fields International Limited (dfi) Action
Release Date: 14/11/2002 17:47:07 Code(s): TSX
TRANS HEX TO COUNTERCLAIM IN DIAMOND FIELDS INTERNATIONAL LIMITED (DFI) ACTION
TRANS HEX GROUP LIMITED
NEWS RELEASE
JSE CODE : TSX NSX CODE : THX ISIN : ZAE000018552
TRANS HEX TO COUNTERCLAIM IN DIAMOND FIELDS INTERNATIONAL LIMITED (DFI) ACTION
Trans Hex will vigorously defend the action instituted in the Cape Town High
Court by foreign-based DFI for US$19,5 million based on an alleged repudiation
of the joint venture agreement over the Marshall Fork concession in Namibia.
Trans Hex is currently finalising a substantial counterclaim in this action.
Trans Hex, a 7% shareholder in DFI, is monitoring the dispute between the
current board of directors of DFI and DFI`s largest shareholder, who intends
opposing the re-election of the existing DFI board of directors and nominating
new directors at the annual general meeting of DFI on 21 November 2002.
Ends
Date: 14/11/2002 05:46:46 PM Produced by the JSE SENS Department
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