Suspension of SA operations
March 23 2005 - 5:32AM
UK Regulatory
RNS Number:1150K
Dimension Resources Ld
23 March 2005
RNS ANNOUNCEMENT
DIMENSION RESOURCES LIMITED
Suspension of South African operations
The directors of Dimension Resources have decided to suspend activities
undertaken in South Africa through its wholly owned subsidiary, Natural Stone
Industries Limited. The exchange rate between the South African Rand, in which
costs are denominated, and the US Dollar, in which sales are priced, has made it
impossible for NSI to operate profitably at this time.
The directors have given a power of attorney to professional advisers in South
Africa authorising them to sell such of the group's assets there as will satisfy
local creditors. When this is achieved the directors intend to review the
position with a view to deciding the best way to increase value for
shareholders.
23 March 2005
This information is provided by RNS
The company news service from the London Stock Exchange
END
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