May 17, 2017 / 12:12 PM / 2 months ago

BRIEF-African Dawn Capital cancels Elite Transaction, to recover damages

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May 17 (Reuters) - African Dawn Capital Ltd:

* Despite extensive negotiation Dzothe remains in breach of its obligations in terms of Elite Transaction

* Dzothe has failed to pay relevant portion of purchase consideration to Afdawn in accordance with terms of transaction

* Afdawn has exercised its right to cancel elite transaction and reserved it rights to claim and recover damages Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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