| Fri 7 Sep 2007, 11:02 | | GDF - Gold Reef - Amendment to the announcement of |
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GDF
GDF
GDF - Gold Reef - Amendment to the announcement of the Firm Intention by Bidco
to make an offer
Gold Reef Resorts Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/002108/06)
JSE share code: GDF
ISIN: ZAE000028338
("Gold Reef" or "the Company")
Fluxrab Investments No 159 (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/043727/07)
("BidCo")
Amendment to the announcement of the firm intention by BidCo to make an offer to
acquire all the issued shares and to be issued shares in Gold Reef Resorts
Limited (other than treasury shares)
Gold Reef and Bidco have amended the third paragraph of item 5 of the
announcement released on SENS on Tuesday, 4 September 2007 and published in the
press on Wednesday, 05 September 2007. The paragraph in question now reads as
follows:
"If Gold Reef receives an unsolicited competing offer, Gold Reef will, within
two days of receipt thereof, inform BidCo of the details of the competing offer
and, unless the competing offer is superior to BidCo`s offer, Gold Reef will use
all reasonable endeavours to procure that its directors do not withdraw or
modify its recommendation of BidCo`s offer. Where the unsolicited competing
offer is a higher offer, BidCo will be given two business days to confirm in
writing that it intends to increase or revise its offer or submit another offer
which in either case would, in the opinion of the Board, provide superior
financial value to the Gold Reef shareholders than the unsolicited competing
offer and is otherwise on terms which are, in the reasonable opinion of the
Board, substantially equal to or not materially worse than those contained in
the unsolicited competing offer. If BidCo fails to so advise within two business
days and/or subsequently fails to announce its revised or increased offer within
10 business days, Gold Reef shall be entitled to terminate the OIA and to
withdraw or modify its recommendation of BidCo`s offer."
Johannesburg
7 September 2007
Transactional sponsor to Gold Reef
Merrill Lynch South Africa (Pty) Limited
Date: 07/09/2007 11:02:01 Produced by the JSE SENS Department.
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