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MUR - Murray & Roberts Holdings Limited - Middle East Order Book

Release Date: 25/03/2009 14:10
Code(s): MUR
Wrap Text

MUR - Murray & Roberts Holdings Limited - Middle East Order Book MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ISIN Code: ZAE000073441 ("Murray & Roberts" or "Group") MIDDLE EAST ORDER BOOK Shareholders are advised that the Group has today received formal notification that the joint venture contract to construct the Tameer Towers project in Abu Dhabi has been terminated, subject to contract. This means that costs associated with work done to date will be recovered as stipulated. The Group has previously cautioned on volatility in the Middle East market as a result of the global financial crisis and in particular, the alliance nature of the contracting arrangement on the Tameer Towers project. The Group`s 33% share of this contract is about R5,0 billion, of which about R90 million relates to the remainder of the current financial year. This event, while disappointing, will not have a material impact on the Group`s performance for the financial year to 30 June 2009. Current and future opportunities already identified in the region hold the potential to replace the forward order book. This announcement has not been reviewed or reported on by the Group`s auditors. Bedfordview 25 March 2009 Sponsor: Deutsche Securities (SA) (Pty) Ltd Date: 25/03/2009 14:10:02 Supplied by www.sharenet.co.za 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.

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