SALLIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1903/001879/06
JSE Share Code: SAL
ISIN: ZAE000022588
SALLIES SEEKS TO RESOLVE WITKOP STRIKE
Johannesburg, 16 October 2003 - Sallies today renewed efforts to resolve a
wage dispute at its Witkop fluorspar mine near Zeerust after some 120 NUM
members went on strike there.
Witkop managing director Izak Marais said management was seeking a further
meeting with the local NUM branch in an attempt to reconcile the workers" wage
demands with the company"s difficult financial position. Sallies recently
reported a R14.5 million loss for the year to June and said it would have to
raise capital through a rights offer to restore the sustainable profitability of
the Witkop operation.
"We are basically sympathetic to their demand for a 9% increase backdated to
July but in view of our currently stressed cashflow situation we have asked that
payment be deferred to the end of this financial year," Marais said.
Production at the mine has not been affected as its mining activities are
outsourced to contractors and the plant operation is being maintained by non-
striking employees.
For further information call
Izak Marais on (018) 642 8401 or 083 298 2000
Issued by du Plessis Associates on behalf of Sallies Limited.
dPA contact Kathy du Plessis on Tel : +27 11 728 4701, Fax: +27 11 728 2547 or
e-mail: sallies@dpapr.com
Date: 16/10/2003 01:07:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
