BLUE LABEL TELECOMS LIMITED - Settlement of Arbitration proceedings and Litigation

Settlement of Arbitration proceedings and Litigation

Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU ISIN: ZAE000109088
(“Blue Label” or “the company”)


SETTLEMENT OF ARBITRATION PROCEEDINGS AND LITIGATION

Blue Label shareholders are advised that:

   -   the arbitration proceedings between a Blue Label subsidiary, Africa Prepaid Services
       Nigeria Limited (“APSN”) and the former subsidiary of Telkom SA SOC Limited (“Telkom”),
       Multi-Links Telecommunications Limited (“Multi-Links”) has been settled; and

  -    the litigation action in the High Court of South Africa between Telkom and Multi-Links, on
       the one hand, and Blue Label, Africa Prepaid Services (Pty) Ltd, APSN and certain
       individuals, on the other, has been settled.

In terms of the Settlement Agreement all claims and counterclaims have been withdrawn and all of
the parties have agreed that they will have no further claims against one another arising out of the
disputes forming the subject of both the arbitration proceedings and the action, including any
claims for costs.


10 December 2014

Sandton

Sponsor:
Investec Bank Limited

Attorneys:
Knowles Husain Lindsay Inc.

Date: 10/12/2014 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.