AVASA HOLDINGS LIMITED - WITHDRAWAL FROM ARBITRATION
AVASA HOLDINGS LIMITED
Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: AVA ISIN ZAE000040622
(`AVASA`)
WITHDRAWAL FROM ARBITRATION
AVASA shareholders are referred to previous announcements relating to the
arbitration (`the Arbitration`) between AVASA on the one hand and Metallon
Capital (Proprietary) Limited and Messrs E Dube, B Khoza, N Gugushe and M
Anderson (collectively `the sellers`) on the other hand.
AVASA and the sellers have agreed that continuing with the arbitration is not in
the interest of any of the parties and accordingly both parties have agreed to
withdraw from the arbitration on the basis that the proposed merger between
AVASA and African Harvest Capital Holdings (Proprietary) Limited will not be
implemented and each party will bear its own costs.
Rosebank
11 October 2004
Sponsor
Java Capital
Attorneys
Read Hope Phillips attorneys
Date: 11/10/2004 02:40:06 PM
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