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PIK - Pick n Pay Stores Ltd - Sale of Franklins Pick n Pay Stores Ltd (Incorporated in the Republic of South Africa) (Registration number 1968/008034/06) Share code: PIK ISIN: ZAE000005443 Pick n Pay today welcomed the decision by Metcash Trading Limited (Metcash) yesterday to notify the Australian Competition and Consumer Commission (ACCC) that following five clear business days it will consider itself free to agree with Pick n Pay to waive the condition requiring ACCC approval and to complete the acquisition of Franklins. The Chairman of Pick n Pay, Gareth Ackerman, said: "We welcome this development and confirm our view that the sale of Franklins to Metcash will deliver the best outcome for Pick n Pay and its shareholders and Franklins employees. "In our dealings on this matter, we will make sure that we act in strict compliance with the law. "Further, we have consistently argued that the sale of Franklins to Metcash would enhance competition within the Australian market. The recent judgment in the Federal Court comprehensively rejected each of the ACCC`s arguments and reinforced our views," he said. "We remain very concerned about the impact this delay is having on the Franklins business and particularly our employees". 12 September 2011 Sponsor:Investec Bank Limited For more information please contact: Tamra Veley +2783 251 3658 Date: 12/09/2011 16:16:50 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.
