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CIPLA MEDPRO SOUTH AFRICA LIMITED - CMP - Renewal of cautionary , update on TRP investigation and notification of Labour Court matter

Release Date: 08/01/2013 17:38
Code(s): CMP     PDF:  
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CMP - Renewal of cautionary , update on TRP investigation and notification of Labour Court matter

Cipla Medpro South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
Share code: CMP
ISIN: ZAE000128179
(“CMSA or “the Company")

RENEWAL OF CAUTIONARY ANNOUNCEMENT, UPDATE ON TAKEOVER REGULATION
PANEL INVESTIGATION AND NOTIFICATION OF LABOUR COURT MATTER

Shareholders are referred to the cautionary announcement released by the Company on SENS on 21
November 2012 in which shareholders were advised of discussions between the Company and Cipla
Limited, which, if successfully concluded, may have a material effect on the price of the Company’s
securities. Shareholders are advised that these discussions are ongoing and are accordingly advised
to continue exercising caution when dealing in the Company’s securities until a further announcement
is made.

Shareholders are referred to the SENS announcement released on 21 September 2012 relating to the
notification from the Takeover Regulation Panel (“TRP”) that it intended to conduct an investigation
into the affairs of the Company, after allegations were made by certain shareholders, including the
Company’s former CEO, Mr Smith, in his capacity as a shareholder. Shareholders are now advised
that the TRP has formally advised the attorney acting for such shareholders that its investigation has
been discontinued.

Shareholders are referred to the various SENS announcements relating to the suspension and
resignation of Mr Smith, the most recent being 8 October 2012. Shareholders are advised that Mr
Smith has launched proceedings in the Labour Court of South Africa (Cape Town) claiming payment
of approximately R18 million in respect of what he contends was the Company’s unlawful repudiation
of his fixed term employment contract and in excess of R11 million in respect of what he contends are
unpaid bonuses. The CMSA group will oppose the proceedings.

The Board will continue to advise shareholders of any developments in regard to the matters noted
above.

Bellville
08 January 2013

Sponsor
Nedbank Capital

Transaction Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

Date: 08/01/2013 05:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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