OMN - Omnia Holdings Limited - Statement from Omnia Release Date: 20/05/2009 17:06:01 Code(s): OMN
OMN - Omnia Holdings Limited - Statement from Omnia
OMNIA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/003680/06)
JSE Code: OMN
("Omnia" or "the Group")
STATEMENT FROM OMNIA
Omnia notes recent media comment in which the Group is named by the Competition
Commission in connection with collusion investigations.
The long running (6 year) investigation by South Africa`s Competition Commission
pertain to events prior to 2003 and relate to a complaint filed by Nutri-Flo, a
small blender and distributor of fertilizer. It was subsequently referred by
the Commission to the Tribunal in May 2005 in respect of collusion on the part
of Sasol Limited ("Sasol"), Omnia Fertilizer and Yara in nitrogenous fertilizer
This investigation has raised a range of extremely complex issues and the
charges levelled against Sasol are more numerous and wide ranging then those
levelled against Omnia Fertilizer. Sasol has reached a settlement on a number of
issues which do not involve Omnia Fertilizer.
Commenting on the recent media reports and the ongoing investigation, Rod
Humphris, MD Omnia, said:
"Notwithstanding recent media reports, the grounds for our defence against the
collusion charges levelled against Omnia remain unchanged and we will continue
to defend our position whilst cooperating fully with the Authorities."
"We regret that this process has taken so long - we have to the extent possible,
reported on the investigation in our annual report for the past six years. We
would certainly welcome a speedy resolution of the matter."
"As one of the most significant players in the chemicals market, Sasol is also a
critical supplier to Omnia, and we believe that our contractual and commercial
arrangements with them have not negatively impacted any of our customers,"
20 May 2009
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 20/05/2009 17:06:01 Supplied by www.sharenet.co.za
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