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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petmin | LSE:PTMN | London | Ordinary Share | ZAE000076014 | ORD ZAR0.25 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPTMN
RNS Number : 4835N
Petmin Limited
28 September 2012
PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET & ISIN: ZAE000076014
Share Code AIM: PTMN
("Petmin" or "the Company")
Unprotected strike by contractor employees at Somkhele Mine
Shareholders are advised that approximately 345 workers employed by Sandton Plant Hire ("SPH"), the opencast contractor at Petmin'swholly-owned subsidiary, Tendele Coal Mining (Pty) Limited, the operator of the Somkhele mine in KwaZulu-Natal,South Africa, have embarked on an unprotected strike as contemplated in Section 68 of the South African Labour Relations Act, 66 of 1995.
SPH management is in discussions with striking workers and union representatives, and has urged workers to return to work and pursue their grievances through recognised negotiating channels.
A court interdict has been obtained by SPH declaring the conduct of the striking workers unlawful, allowing SPH to take all necessary legal steps required to resolve the situation. As a result of striking workers not having returned to work by 12h00 Central African Time (11h00 British Standard Time), today, 28 September 2012, SPH under the interdict obtained may take disciplinary action against striking workers, which stepsmay include dismissal. In addition, contempt of court proceedings may be brought by SPH.
Somkhele mine management is working with SPH management and union representatives to find a speedy and amicable solution that will allow for operations at the mine to return to normal as soon as possible.
Somkhele Mine has sufficient stock to supply the majority of its clients for the foreseeable future.
Updates on the unprotected strike action will be released on the Securities Exchange News Service and tothe Regulatory News Service.
Enquiries:
Petmin
011 706 1644
www.petmin.co.za
Media enquiries
Jonathon Rees +27 76 185 1827
Jonathon@proofcommunication.com
Nominated Adviser and Broker (AIM)
Macquarie Capital (Europe) Limited
Nicholas Harland, Steve Baldwin
+44 20 3037 2369
Sponsor and Corporate Advisor (JSE)
River Group
Andrew Lianos +27 83 4408 365
Johannesburg
28 September 2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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