COMAIR LIMITED - Judgement in respect of SAAs anti-competitive Travel Agent Incentive Schemes

Judgement in respect of SAA’s anti-competitive Travel Agent Incentive Schemes

Comair Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/006783/06)
ISIN Code: ZAE000029823
Share Code: COM
(“Comair” or “the Company”)

JUDGEMENT IN RESPECT OF SAA’S ANTI-COMPETITIVE TRAVEL AGENT
INCENTIVE SCHEMES

Shareholders are advised that the South Gauteng High Court has
handed down judgement in respect of Comair’s case initiated
against SAA 14 years ago in respect of its anti-competitive travel
agent incentive schemes.

In terms of the judgement, the Company was awarded R554 million
plus interest at 15.5% thereon, which will be capped at the value
of the award, plus costs, amounting to approximately R1.16 billion
in total.

As this has been a long and complex matter the Company will need
time to study the judgement. Shareholders are however advised the
judgement is subject to appeal by both parties and shareholders
should be conscious of same when trading in the Company’s
securities.

Johannesburg
15 February 2017

Sponsor: PSG Capital Proprietary Limited

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