Allied Electronics Corporation Limited - Implementation of settlement agreement
between Allied Technologies Limited and the other shareholders of Econet
Wireless Global Limited
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code: ATN ISIN: ZAE000029658
Share Code: ATNP ISIN: ZAE000029666
(`Altron`)
IMPLEMENTATION OF SETTLEMENT AGREEMENT BETWEEN ALLIED TECHNOLOGIES LIMITED
(`ALTECH`) AND THE OTHER SHAREHOLDERS (`TSMI SHAREHOLDERS`) OF ECONET WIRELESS
GLOBAL LIMITED (`EWG`)
Shareholders are referred to the Altron announcement dated 2 September 2005 as
well as the announcement released by Altech on SENS on 20 September 2005 and are
advised that Altech has received payment of US$87.5 million, together with
interest thereon of US$174 194, as specified in the settlement agreement entered
into between, inter alia, Altech and the TSMI shareholders.
Accordingly, the settlement agreement has been implemented and Altech has
disposed of its interests in EWG with effect from 1 September 2005. All
disputes and claims between the parties have been settled.
Johannesburg
21 September 2005
Sponsor
Nedbank Capital
Date: 21/09/2005 10:00:23 AM
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