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NOVUS HOLDINGS LIMITED - Supreme Court of Appeal Ruling

Release Date: 21/11/2018 17:10
Code(s): NVS     PDF:  
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Supreme Court of Appeal Ruling

Novus Holdings Limited
(Incorporated in the Republic of South Africa)
JSE share code: NVS
ISIN: ZAE000202149
(“Novus Holdings”, “the Company” or “the Group”)

Supreme Court of Appeal Ruling

Shareholders are advised that the Supreme Court of Appeal (“SCA”) on Tuesday, 20 November 2018
set aside the order of the court a quo by declaring the Department of Basic Education's award of the
contract for the printing and distribution of school workbooks to the Lebone Novus UTi Consortium
constitutionally invalid.

The parties will study the implications of the judgment in detail before deciding on any action in this
regard. It should be noted however that the judgement preserves the Consortium’s right to continue
to print and distribute the school workbooks in terms of the contract until the end of its original term
being 31 March 2020.

For and on behalf of the Board.

Cape Town
21 November 2018

Sponsor: Investec Bank Limited

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