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PEMBURY LIFESTYLE GROUP LIMITED - Advice of Legal Matter

Release Date: 06/11/2018 13:10
Code(s): PEM     PDF:  
 
Wrap Text
Advice of Legal Matter

PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949      JSE Code: PEM
                                       
ADVICE OF LEGAL MATTER

Shareholders are advised that the Company has incorrectly been cited as owing an amount of
R483 765.00 to Artificial Grass SA Proprietary Limited (“AG SA”) for work which was carried out at two of
the schools, namely PLG Willow View Academy and PLG Raslouw Academy. The work was contracted
by Kygoway Proprietary Limited (“Kygoway”), which company does the construction work for the
schools and retirement villages. There is currently a dispute between AG SA and Kygoway around the
quality of the workmanship. However, AG SA has applied for the liquidation of the PL Group as a
means of enforcing payment of a debt due by Kygoway.

PL Group is not a party to the transaction and has not been invoiced by AG SA for the subject-matter
claims. This matter is being defended by the PL Group.


By order of the board
Johannesburg
6 November 2018

Designated Advisor
Arbor Capital Sponsors

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