Further to the separate announcements released by R&E and JCI on SENS on 9 April 2009 relating to the lapsing of the scheme of arrangement referred to therein, shareholders are advised that the boards of R&E and JCI are of the view that without prejudice to any of their rights under the Mediation Agreement concluded between them on 7 April 2006 (as amended), it would be in the best interests of the companies to endeavour to achieve a settlement. Accordingly, the companies have engaged in negotiations regarding a possible settlement of the disputes between them. Shareholders of R&E and JCI will be kept informed of the progress of such negotiations from time to time.
Renewal of cautionary announcement
In the light of the above, JCI and R&E shareholders are advised to continue to exercise caution in trading their shares over the counter until such time as a further announcement is made.
17 April 2009
Sponsor to R&E
PSG Capital (Pty) Limited
Sponsor to JCI
A division of Sasfin Bank Limited