GMF
GMF
Gencor Limited - Announcement To Shareholders
GENCOR LIMITED
Incorporated in the Republic of South Africa
Registration number 1895/001232/06
ISIN code: ZAE000013066
Share code: GMF
("Gencor")
ANNOUNCEMENT TO SHAREHOLDERS
Gencor"s shareholders have been advised previously that during July 2003, the
Bareki Tribal Authority and the Nkululeko Environmental and Development Group
("the claimants") instituted a claim against Gencor (and others) in which the
claimants sought the rehabilitation of certain areas of land in and around the
Bute asbestos mine and Heuningvlei ("the claim"). Gencor set aside an amount of
R35 million of its cash resources as security for the claim ("the security").
In terms of an agreement concluded on 13 January 2006 between the claimants,
Gencor and others (including the Minister of Minerals and Energy in her capacity
as the Minister responsible for the Department of Minerals and Energy):
- the claim against Gencor has been withdrawn fully and finally;
- the claimants have waived and abandoned unconditionally and irrevocably any
claims against Gencor for rehabilitation in the Bute and Heuningvlei areas;
- no payment has been or will be made by Gencor under this agreement and the
security has fallen away; and
- the Department of Minerals and Energy will undertake certain rehabilitation
work in and around Bute and Heuningvlei.
As the outstanding rehabilitation matters have now been resolved fully and
finally, Gencor"s Board of Directors will advise shareholders in the near future
on the possibility of Gencor being voluntarily liquidated.
Johannesburg
16 January 2006
Sponsor
Investec Bank Limited
(Registration number 1969/004763/06)
Attorney
Webber Wentzel Bowens
Date: 16/01/2006 05:15:02 PM Produced by the JSE SENS Department
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