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Update On The PG Bison - Competition Commission Matter
KAP INDUSTRIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
(“KAP” or “the Company”)
UPDATE ON THE PG BISON - COMPETITION COMMISSION MATTER
KAP shareholders are referred to the SENS announcement dated 14 November 2019
regarding the PG Bison - Competition Commission matter.
PG Bison (Pty) Ltd (“PG Bison”), a subsidiary of KAP, on 7 November 2019, filed an
application in the High Court to review and set aside the Competition Commission of South
Africa’s (the “Commission’s”) refusal to grant PG Bison immunity in terms of the
Commission’s corporate leniency policy (the “Review Application”).
On 13 November 2019, the Commission referred a complaint against PG Bison to the
Competition Tribunal, alleging collusive conduct for the period 2009 to 2016 (the “Complaint
Referral”) and requesting a penalty of 10% of PG Bison’s annual turnover.
PG Bison, on 11 December 2019, filed a stay application with the Competition Tribunal to
suspend the hearing of the Complaint Referral, pending the outcome of PG Bison’s Review
Application (the “Stay Application”).
The Commission has since indicated that it would not oppose the Stay Application.
The Review Application is in the early stages. KAP will continue to update shareholders of
developments in this matter.
Further details of the PG Bison - Competition Commission matter are available on KAP’s
website at www.kap.co.za/investor-relations/corporate-announcements/.
Stellenbosch
6 February 2020
Sponsor
PSG Capital
Date: 06-02-2020 09:35:00
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