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Implementation of final aspects of settlement of Seardel litigation
SEARDEL INVESTMENT CORPORATION LIMITED
Registration number: 1968/011249/06
(Incorporated in the Republic of South Africa)
JSE share code: SER ISIN: ZAE000029815
JSE share code: SRN ISIN: ZAE000030144
("Seardel" or "the company")
Implementation of final aspects of settlement of Seardel litigation
Shareholders are referred to the litigation noted in the SENS announcement dated 13
October 2012 which stated that unless leave to appeal was obtained by the third
parties in respect of such litigation, Erf 27412, Observatory, situate at the corner
Main Road and Browning Road, Observatory, Cape Town would be transferred to a
subsidiary of the Company.
Shareholders are advised that leave to appeal lodged by the third parties both in the
Western Cape High Court and then in the Supreme Court of Appeal has been dismissed
with costs.
The Company has been advised that the third parties do not enjoy any further rights of
appeal, and accordingly it will now take the necessary steps to effect transfer of the
property.
Shareholders are also referred to the Trading Statement issued by the Company dated 29
April 2013, and are advised that this property which has a current estimated market
value of R38,7 million will be noted as a post balance sheet event in the financial
statements of the Company, is not included in the results for the year ended 31 March
2013.
Cape Town
10 May 2013
Sponsor:
Investec Bank Limited
Date: 10/05/2013 04:30:00 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.
