| Mon 21 Jan 2008, 12:43 | | GDF - Gold Reef Resorts - Discussions Regarding Possible Extension Of Deadline |
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GDF
GDF
GDF - Gold Reef Resorts - Discussions Regarding Possible Extension Of Deadline
Date For Conditions Precedent To Be Met
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")
DISCUSSIONS REGARDING POSSIBLE EXTENSION OF DEADLINE DATE FOR CONDITIONS
PRECEDENT TO BE MET
Gold Reef shareholders ("Shareholders") are reminded that the scheme of
arrangement (the "Scheme") in terms of section 311 of the Companies Act (61 of
1973, as amended), proposed by Fluxrab Investments No 159 (Proprietary Limited)
("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
("the Offer") is subject to the fulfillment, or where permissible, waiver, of
all conditions precedent thereto by Thursday, 31 January 2008; provided that
Gold Reef and BidCo shall be entitled to extend this date by agreement at any
time before Thursday, 31 January 2008. 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.
Shareholders are advised that Bidco and the Independent Committee of the Board
of Directors of the Company, established for the purpose of assessing all
aspects of the Offer, have entered into discussions regarding the possible
extension of the aforementioned date and the terms relating thereto.
Shareholders will be notified prior to Thursday, 31 January 2008 of the outcome
of these discussions.
Johannesburg
Monday, 21 January 2008
Transaction sponsor
Merrill Lynch South Africa (Pty) Limited
Sponsor
Nedbank Capital
Date: 21/01/2008 12:43:53 Produced by the JSE SENS Department.
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