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Omn - Omnia Allows Contract With Moody`s To Lapse

Release Date: 01/04/2010 08:39:01      Code(s): OMN
OMN - Omnia Allows Contract With MOODY`S to Lapse                               
OMNIA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1967/003680/06)                                           
JSE Code: OMN                                                                   
ISIN: ZAE000005153                                                              
Omnia allows contract with Moody`s to lapse                                     
Omnia, the JSE listed diversified and specialist chemical services company,     
providing customised solutions in the chemicals, mining and agriculture markets,
today confirmed its decision taken in August 2009 to withdraw from the Moody`s  
Ratings programme.                                                              
Following the long and short term rating issued to Omnia by Global Credit       
ratings (GCR) during May of last year, management made the decision that only   
one rating agency is required for the Group. Omnia therefore felt that it was   
unnecessary to continue with Moody`s ratings agency and allowed the contract to 
expire at the end of September 2009. Accordingly Moody`s has now announced the  
withdrawal of their rating.                                                     
GCR Ratings Services will continue to provide a corporate credit rating on the  
Company. Omnia`s current GCR long term rating is BBB+ and short term rating is  
1 April 2010                                                                    
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
Date: 01/04/2010 08:39:01 Supplied by www.sharenet.co.za                     
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