AFG
AFG
Afgem Limited - Cautionary Announcement
Afgem Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/007292/06)
JSE code: AFG & ISIN: ZAE000067757
("Afgem" or "the Company")
CAUTIONARY ANNOUNCEMENT
Shareholders are advised that, further to the litigation statement published in
the 2006 annual report, the Company and certain of its subsidiaries are
currently involved in a matter in the Labour Court of South Africa with the
National Union of Mineworkers ("NUM"), whereby some 400 employees were placed on
short time in 2004 by the previous owners of the Simolotse Mine.
Following out of Court discussions and lengthy negotiations during the past
month the parties were unable to agree on a settlement and the case has been
deferred until next year. In the event of the claim being significantly more
than the R800 000 provided for in the accounts, this may defer the re-opening of
the Simolotse Mine.
Shareholders are advised to exercise caution when dealing in the securities of
Afgem. A further announcement will be made in due course.
Melrose Arch
16 November 2006
Sponsor: ABSA Capital
Date: 16/11/2006 12:52:04 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
