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STRATCORP LIMITED - Announcement Re Litigation

Release Date: 16/08/2013 15:10
Code(s): STA     PDF:  
Wrap Text
Announcement Re Litigation

STRATCORP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2000/031842/06)
JSE code: STA
ISIN: ZAE 000034294
("StratCorp" or “the Company”)


ANNOUNCEMENT RE LITIGATION


Shareholders are advised that a summons was served on StratCorp’s wholly owned
subsidiary, Virtus Financial Services Proprietary Limited (“Virtus”) and inter alia the current
CEO of StratCorp (who was a director in Virtus at the time), claiming payment of damages
in excess of R23 million. The claim arises from an investment made by a third party in
2008 in a company that was liquidated in 2010. Virtus acted in an advisory capacity to the
third party. Virtus and the other defendants intend defending the matter. If the matter
proceeds to trial it could take years before judgement is delivered.

Should the plaintiff succeed, it may have a material effect on the price of StratCorp’s
securities in future.

Shareholders will be updated as and when there are further developments.


16 August 2013
Centurion

Designated Adviser
Exchange Sponsors

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