Michel Nairac not contracted to Phumelela

PHUMELELA MEDIA RELEASE
SUBJECT: Phumelela has not contracted services of former Gold Circle CEO
DATE: Wednesday 13 May
RELEASED BY: Phumelela Gaming and Leisure Limited

Contrary to speculation in some horseracing circles, Phumelela would like to point out that it has not contracted or retained the services of former Gold Circle CEO Michel Nairac in any shape or form.
Further, Phumelela would like to reiterate that it has always publicly stated that it is in favour of a merger or a closer working relationship with Gold Circle. At this point, however, any speculation or announcement in this regard is premature.
JSE-listed Phumelela operates horseracing and/or tote betting in seven of South Africa’s nine provinces including Gauteng. Gold Circle is the horseracing and tote betting operator in KwaZulu-Natal and the Western Cape.