9th Feb 2010 09:30
9 February 2010
South African Property Opportunities plc
("SAPRO", the "Company")
South African Property Opportunities PLC today announces that it has received a claim from Proteus Property Partners Limited ("PPP"), the Company's investment manager, in respect of performance fees allegedly due to PPP of an amount of up to £5,101,304 plus interest and costs. The Company believes that the claim is without merit and intends to vigorously defend it.
PPP is also claiming for outstanding management fees of approximately £430,000 plus interest and costs. The Company is taking advice from its solicitors in relation to such claim.
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For further information, please contact:
Tim McCall/Lucinda Kemeny
Hogarth Partnership
+44 (0)20 7357 9477
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