SENS announcement – Update on Settlement Agreement with Paul Main

Shareholders are referred to the announcements released on SENS on 23 May 2012 and 06 July 2012 respectively regarding the settlement agreement entered into with Mr. Paul Main.

Following the aforementioned announcements, shareholders are hereby advised that R&E and Mr. Paul Main have subsequently concluded a further agreement in terms of which R&E has granted a further extension to Mr. Paul Main for the payment of the final outstanding installment of $2 million until the end of November 2012.

The extension is granted subject to the condition that Mr. Paul Main will compensate R&E for the delay in paying such installment to R&E.

19 September 2012

PSG Capital Proprietary Limited

Posted in Company Announcements.