New Corpcapital Limited - Settlement of litigation
NCA
NCA
New Corpcapital Limited - Settlement of litigation with Mr N Frangos
NEW CORPCAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/006539/06)
Share code: NCA & ISIN: ZAE000067765
("New Corpcapital")
SETTLEMENT OF LITIGATION WITH MR N FRANGOS
New Corpcapital Limited is pleased to report that the High Court application
between Frangos and Corpcapital Limited (in liquidation) has been settled. The
following are the terms of settlement:
AIN accepts that it invaded Frangos" privacy (which it alleges it did on the
instructions of Liebesman, and which Liebesman denies) and accedes to the
interim interdict against it being made final.
Corpcapital and Lazarus accept that AIN invaded Frangos" privacy but deny that
Liebesman or any other person had authority to give such instructions.
Frangos accepts that neither Lazarus nor the Board of Corpcapital instructed AIN
to do so.
AIN agrees to pay an amount to Frangos which Frangos has elected to donate to a
charity of his choice.
Frangos withdraws his claims under case numbers 11487/03 and 10681/03 against
Corpcapital, Lazarus, AIN and Goldblatt. Corpcapital and Lazarus withdraw their
counterclaims against Frangos.
Each party agrees to pay its own costs.
This agreement is in full and final settlement of any and all claims by any of
the parties against each other in regard to the invasion of Frangos" privacy or
the matters dealt with in Corpcapital and Lazarus" counterclaims, or arising
from the litigation in case numbers 11489/2003 and 10681/2003.
Frangos waives any claims against any of the directors or ex-directors of
Corpcapital in regard to the same events.
Frangos undertakes to return within 7 days of signature hereof all documentation
and property in his possession over which AIN claim ownership.
The parties will announce this settlement jointly in the media. The parties
agree that in any subsequent statements which they may make to the media in
respect of the matters dealt with in this agreement, they will not contradict
the terms of this agreement.
The parties agree that this settlement agreement be made an order of Court."
Rosebank
31 May 2006
Sponsor
Java Capital (Proprietary) Limited
Date: 31/05/2006 12:23:00 PM Produced by the JSE SENS Department
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