Wilson Bayly Holmes – Ovcon Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1982/011014/06)
Share code: WBO ISIN: ZAE000009932
ANNOUNCEMENT REGARDING THE SETTLEMENT AGREEMENT CONCLUDED WITH THE SOUTH AFRICAN GOVERNMENT
Shareholders are advised that WBHO Construction (Pty) Ltd (WBHO) a subsidiary of Wilson Bayly Holmes – Ovcon Limited entered into a settlement agreement (the Settlement Agreement) with the government of the Republic of South Africa (the Government), together with other construction companies (collectively, the Construction Companies), in an effort to address the Construction Companies’ exposure to potential claims for damages from certain identified public entities (the Claims) arising primarily from the fast track settlement process launched by the South African Competition Authorities in February 2011 (the Fast Track Settlement Process), as well as to significantly advance the transformation of the South African construction sector.