THE AFRIKANDER LEASE LIMITED - SETTLEMENT ANNOUNCEMENT
The Afrikander Lease Limited
(Incorporated in the Republic of South Africa)
JSE Share Code: AFL
NASDAQ Code: AFKDY
(Registration number 1921/006955/06)
(`Aflease`)
ISIN Number: ZAE000000253
SETTLEMENT ANNOUNCEMENT
Aflease shareholders are advised that it has signed an agreement with, inter
alia, Mr. Peter Skeat (previous CEO and Chairman of Aflease) and certain
companies owned by Mr. Skeat in terms of which all outstanding matters and
potential claims between Aflease and Peter Skeat, have been settled by Aflease
agreeing to pay Mr. Skeat an amount of R3,1 million. This amount includes the
settlement of outstanding remuneration, equipment rental charges and all other
amounts payable to Mr.Skeat.
The settlement is in relation to all past and present claims which either party
may have or have had against the other party.
Johannesburg
8 June 2004
Sponsor
Nedbank Capital
Date: 08/06/2004 04:46:02 PM
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