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Watchdog charges First Uranium

Aug 16 2010 11:14 Sapa

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Cape Town - The Competition Tribunal says it has laid a charge against First Uranium Corporation [JSE:FUM] accountant Rory Cole following his failure to respond to a summons.

It said on Monday that the charge, the first ever pursued by the tribunal, was laid with police last week.

The July 12 summons had ordered Cole to be present at a merger hearing or to produce information on the proposed acquisition by Bedrock Mining Support of the Letaba, Numbi and De Kaap businesses of Mondi Limited.

The tribunal had made numerous attempts to compel Cole to respond, but he had failed to do so.

"Legal processes are taken as very serious matters by the tribunal and failure by persons or firms to respond to these processes will certainly not be tolerated," the tribunal said.

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