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Competition Commission refers cable investigation
South Ocean Holdings Limited
(Incorporated in the Republic of South Africa)
(Reg. No 2007/002381/06)
Share Code: SOH
ISIN: ZAE000092748
("South Ocean")
Competition Commission refers cable investigation
Shareholders are referred to South Ocean's announcement released on SENS on 6 May
2010 advising that the Competition Commission (Commission) had initiated a complaint
investigation into certain alleged prohibited practices in the power cable market against
South Ocean Electric Wire Company (Proprietary) Limited (SOEW), a wholly owned
subsidiary of South Ocean, and three other competitors; and to the Commission’s
media release published on 19 March 2014 announcing that it had decided to refer the
complaint to the Competition Tribunal (Tribunal).
Shareholders are specifically referred to the Commission's announcement that on
16 March 2010 the Commission initiated a complaint investigation against SOEW and
the other three competitors, Alvern Cables, Tulisa Cables, and Aberdare Cables, for
possible price fixing and market allocation in contravention of the Competition Act; and
that the Commission has asked the Tribunal to impose an administrative penalty on each of
the firms involved, except for Aberdare Cables, which has been granted conditional
leniency.
Johannesburg
27 March 2014
Sponsor
Investec Bank
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