| Thu 20 Dec 2007, 9:00 | | GDF - Gold Reef - Unconditional approval by the competition tribunal |
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GDF
GDF
GDF - Gold Reef - Unconditional approval by the competition tribunal
GOLD REEF RESORTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1989/002108/06)
JSE share code: GDF & ISIN: ZAE000028338
("Gold Reef")
UNCONDITIONAL APPROVAL BY THE COMPETITION TRIBUNAL
Further to the announcement dated Monday, 10 December 2007, shareholders are
advised that on Wednesday, 19 December 2007, the Competition Tribunal
unconditionally approved the merger between Fluxrab Investments No 159
(Proprietary) Limited ("BidCo") and Gold Reef, which merger is to be effected
by means of a scheme of arrangement ("the Scheme") in terms of section 311 of
the Companies Act (61 of 1973, as amended), proposed by Bidco between Gold
Reef and the shareholders of Gold Reef, other than Aldiss Investments
(Proprietary) Limited (a wholly-owned subsidiary of Gold Reef and the holder
of 14 427 602 treasury shares) ("Aldiss"), in terms of which BidCo will
acquire all the Gold Reef shares held by shareholders, other than Aldiss,
recorded in the register as such on the latest date and time for shareholders
to be recorded in the register in order to receive the scheme consideration,
being 17:00 on the business day preceding the operative date, and who will be
entitled to receive the scheme consideration on the operative date, other than
the 14 427 602 treasury shares held by Aldiss ("the Offer").
The scheme consideration is R34,00 per Gold Reef share which will increase by
one South African cent per share per business day from Tuesday, 1 January 2008
until the date upon which the Scheme becomes operative.
The remaining condition precedent is the Gambling Boards approving the Offer
and the reorganisation in terms of the respective Gambling Acts. A further
announcement with the final important dates and times will be released on SENS
and published in the press as soon as they are determined.
Johannesburg
Thursday, 20 December 2007
Financial advisor and transaction sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 20/12/2007 09:00:04 Produced by the JSE SENS Department.
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