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Gautrain Arbitration Update
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”)
GAUTRAIN ARBITRATION UPDATE
Shareholders are referred to the previous statements released on the Stock Exchange News
Service of the JSE Limited (“SENS”), regarding the Gautrain arbitration proceedings
between the Bombela Concession Company (“BCC”) and the Gauteng Provincial
Government (“Province”).
SANDTON STATION CAVERN CLAIM
The Bombela Civil Joint Venture (“BCJV”), which was responsible for the design and
construction of the entire Gautrain system, lodged a claim through BCC, which operates the
Gautrain system under a concession agreement, against Province, related to the cost of
construction of the Gautrain Sandton Station Cavern. Murray & Roberts (45%), Bouygues
(45%) and SPG (10%) are the shareholders of BCJV in the percentages indicated.
The Gautrain Sandton Station Cavern Claim, relating to the cost of construction, on its merits
was ruled in favour of BCC in October 2013. On 2 March 2016, the arbitration tribunal
announced the provisional quantum award of R354 million which was subject to a final
determination of the amount (refer to SENS dated 4 March 2016). The final award to BCJV
has been now been determined at R624 million (ex VAT). Province has instituted High Court
proceedings to review the quantum award. BCC are opposing the application for review.
CANTILEVER BRIDGE ARBITRATION AWARD
BCJV is claiming from Province for additional costs incurred following a design change to the
bridges over John Vorster and Jean Avenue in Centurion (“Cantilever bridges”). The
Cantilever Bridges claim, on its merits, was ruled in favour of BCJV on 4 May 2016, with
quantum to be determined in October 2016.
REMAINING GAUTRAIN PROJECT CLAIMS
Details of the remaining claims were disclosed in the Group’s interim results announcement
released on SENS on 24 February 2016. These claims will be diligently pursued and
stakeholders will be kept informed as to their progress.
Bedfordview
31 May 2016
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 31/05/2016 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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