Tigon Media Release
Tigon Limited
ISIN: ZAE000022240
Share code: TGN
In the light of recent events surrounding the Randburg-based Galahad group, the
board of directors of Tigon has resolved to appoint Allen Browne & Associates,
Chartered Accountants, to immediately replace Galahad Chartered Accountants Inc
as its auditors.
The Tigon board also wishes to set the record straight on certain issues:
1) Various media have wrongly reported that the recent raid by the South
African Revenue Service ("SARS") and the South African Police Service ("SAPS")
related to or had links to Tigon. This is incorrect.
2) On the contrary:
2.1) SARS has authorised Tigon to announce that "no search warrant was sought or
obtained in respect of any Tigon group company or any of its directors or
officers".
2.2) SAPS has confirmed in writing to Tigon that "the warrant of 5 November 2002
does not refer to any entity in the Tigon group".
3) Neither Tigon nor any company within the Tigon group has, to the knowledge
of the Tigon Board, been party to any income tax or VAT related fraud.
4) Tigon has offered to assist SARS in any lawful, reasonable and fair
regulatory additional audit of its tax affairs, if SARS so requires.
Ends
ISSUED FOR : Tigon Limited
CONTACT : Gary Porritt Tel : (033) 394 2854
or Sue Bennett Tel: (011) 440 5640
FAX NO : (033) 394 2218 or (011) 440 5642
E-MAIL : sue@tigonlimited.co.za
WEBSITE : www.tigonlimited.co.za
ISSUED BY : TISH STEWART PR ASSOCIATES
CONTACT : Tish Stewart (011) 325 4195 Cell: 082 443 6399
FAX NO : (011) 325-4199
E-MAIL : Tish@tspr.co.za
DATE : 25 November 2002
Date: 25/11/2002 02:50:32 PM Produced by the JSE SENS Department
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