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Emperors Palace Strike Resolved

19 August 2005

CAPE TOWN, South Africa – As reported by Finance24: "Strike action by members of the Food and Allied Workers Union (FAWU) at the Emperors Palace casino complex has been resolved, according to listed gaming and hotel group Peermont Global (PTG), which owns an 83% interest in the complex and also has management responsibility.

"Peermont Global said an agreement had been reached for staff to return to work from 08:00 August 20, after having been on strike since Friday August 12.

"Negotiations had been underway since the beginning of the strike action between Emperors Palace management, representatives of FAWU and the Council for Conciliation, Mediation and Arbitration (CCMA).

"FAWU had accepted Peermont's revised offer of R400 or 7%, whichever was the greater, the company said.

"…In addition, the parties had agreed on a wage settlement for 2006-2007 of CPIX plus 2%…"

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