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OMN - Omnia Holdings Limited - Constitutional court dismisses appeal against

Release Date: 28/06/2012 12:50:48      Code(s): OMN
OMN - Omnia Holdings Limited - Constitutional court dismisses appeal against    
YARA SA and Omnia Fertilizer Limited                                            
OMNIA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1967/003680/06)                                            
JSE code: OMN                                                                   
ISIN: ZAE000005153                                                              
The Constitutional Court this week dismissed a direct appeal by the Competition 
Commission against a decision of the Competition Appeal Court in a ten-year long
alleged cartel complaint against fertilizer producers YARA SA and Omnia         
Fertilizer Limited. Costs were awarded to Omnia and YARA SA.                    
The Competition Appeal Court had in March 2011 ruled in favour of Omnia in an   
appeal against a Competition Tribunal decision which allowed the Commission to  
amend its complaint referral against Omnia and YARA. The Competition Commission 
applied for leave to appeal to the Supreme Court of Appeal, and more than four  
months later applied for leave to appeal directly to the Constitutional Court.  
The case was heard in November 2011.                                            
The Constitutional Court dismissed the Commission`s application but did not rule
on the scope of the Commission`s powers to amend its complaint referrals. The   
Court ruled that the Commission`s application should be refused because it was  
in the interests of justice for the Constitutional Court to have the views of   
the lower courts in determining complex competition law issues.                 
Rod Humphris, MD Omnia Group, commented:                                        
"Omnia has consistently maintained that the Commission is not entitled to amend 
its complaint referral and is pleased with the outcome.  This reaffirms the     
accepted principles regarding due process and the well-established rules and    
procedures governing the Courts."                                               
28 June 2012                                                                    
One Capital                                                                     
Date: 28/06/2012 12:50:48 Supplied by www.sharenet.co.za                     
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