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SENTULA MINING LIMITED - Progress on Legal Matter

Release Date: 05/03/2015 17:15
Code(s): SNU     PDF:  
Wrap Text
Progress on Legal Matter

SENTULA MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
(“Sentula” or “the Company”)


PROGRESS ON LEGAL MATTER


Shareholders are referred to following extract from the Circular to Shareholders dated 27 May 2014 (and using
the terms defined therein unless otherwise stated):

“As part of the winding up process in the insolvent estate of the Golden Autumn Trust (Jason Holland’s family
trust), the trustees of the trust (“Plaintiffs”), on or about 10 September 2010, instituted action against Argent
Industrial for payment of R8.8 million plus interest in the Kwa-Zulu Natal Local Division of the High Court.
Argent Industrial (“Defendant”) is defending the action. On or about 24 March 2011, Argent Industrial delivered
a third party notice claiming R8.8 million and interest against Sentula (“First Third Party”), alternatively
Megacube (“Second Third Party”). Such claims by Argent Industrial are conditional upon the trustees of the
Golden Autumn Trust obtaining judgment against it. The claims in the third party notice are defended. The
action is pending.”

Shareholders are hereby advised that on 4 March 2015 judgment was delivered in terms of which:

-     Judgment was granted in favour of the Plaintiffs against the Defendant for payment of the sum of
      R8.8 million with interest on this sum a tempore morae, as well as the costs of the suit, such costs to
      include the cost of two counsel where employed; and

-     The Defendant’s claims against the First and/or Second Third Parties were dismissed with costs, such
      costs to include the cost of two counsel where employed.


Johannesburg
5 March 2015


Sponsor
Merchantec Capital

Legal advisors
Cliffe Dekker Hofmeyr Inc.

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