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MURRAY & ROBERTS HOLDINGS LIMITED - Competition Commission Final settlement announced

Release Date: 24/06/2013 15:00
Code(s): MUR     PDF:  
Wrap Text
Competition Commission – Final settlement announced

MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ADR Code: MURZY
ISIN: ZAE000073441
(“Murray & Roberts” or the “Company”)


COMPETITION COMMISSION – FINAL SETTLEMENT ANNOUNCED

In reference to the SENS announcement issued on 19 June 2013, shareholders are
advised that Murray & Roberts has reached a settlement agreement to the amount of
R309 million with the Competition Commission relevant to its Fast Track Settlement
investigations into historical anti-competitive practices. The Competition Commission will
refer this settlement to the Competition Tribunal.

The settlement amount is not materially higher from what was provided for by the Group
and is payable in three payments - one third one month after the Tribunal confirms the
settlement, one third after twelve months and one third after 24 months.

If confirmed by the Competition Tribunal, this represents a full and final settlement of all
alleged collusive conduct as defined in the settlement agreement reached with the
Competition Commission on 18 June 2013.

The Board and management continue to set the vision for and commitment to a morally
and ethically sound culture within Murray & Roberts.

Bedfordview
24 June 2013

Sponsor: Deutsche Securities (SA) Proprietary Limited

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