Transnet and CRRC E-Loco Supply reach in-principle agreement
Transnet and CRRC E-Loco Supply reach in-principle agreement
Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
(“Transnet”, “the Company” or the “Issuer”)
TRANSNET AND CRRC E-LOCO SUPPLY REACH IN-PRINCIPLE AGREEMENT
In compliance with the Debt Listings Requirements of the JSE Limited, debt holders are
advised that Transnet SOC Ltd (“Transnet”) and CRRC E-Loco (Pty) Ltd (“E-loco”) reached
an in-principle agreement towards the resolution of all current legal disputes between the
two companies, to enable support to enhance Transnet Freight Rail’s ability to serve
customer demand on an urgent basis.
The in-principle agreement provides for Transnet immediate access to components and spares
available in South Africa. The next steps will entail the finalisation of a Definitive Settlement
Agreement and complete the resolution of the current legal disputes. Subject to conditions
precedent being met and an independent (non-partisan) price verification the Definitive
Settlement Agreement will also provide expedited and concurrent return to service of long-
standing locomotives and expedited further delivery of locomotives.
Transnet will update the debt holders on any significant developments regarding this matter.
2 September 2022
JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)
Date: 02-09-2022 05:30:00
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