Gencor Limited
Share Code: GMF
ISIN Code: ZAE000013066
CLAIMANTS MEET GENCOR DEADLINE
Johannesburg, 3 February 2003
Gencor stated today that claimants had met the deadline imposed by Gencor for
acceptance of the final amount which Gencor had offered to pay them without any
admission of liability. The total amount is some R460 million.
Consensus has been reached as to how this amount will be allocated to settle
both the English and South African litigation.
The parties will resume discussions tomorrow with a view to negotiating the
remaining terms of a proposed settlement agreement.
Should those negotiations be successful and a settlement agreement be concluded,
this will pave the way for Gencor`s unbundling to continue. The unbundling
timetable will be subject to and in accordance with JSE regulations.
A further announcement will be made later this week.
For further information, please contact:
Francois Baird, Baird`s Renaissance, Tel 011 886 2440 or 082 551 4943
Date: 04/02/2003 08:05:00 AM Produced by the JSE SENS Department
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