JSE
GEN
SRP - Securities Regulation Panel - Gold Reef announcement
("the Panel")
Scheme of arrangement in terms of Section 311 of the Companies Act No 61 of
1973 proposed by Fluxrab Investments No 159 (Proprietary) Limited ("Bidco")
between Gold Reef Resorts Limited ("Gold Reef"), other than Aldiss Investments
(Proprietary) Limited ("Aldiss"), in terms of which Bidco will acquire all Gold
Reef shares, other than the shares held by Aldiss ("the scheme")
Hearing before the Panel
1. Further to the circular dated 5 October 2007 sent to Gold Reef
shareholders, the scheme meeting held on 29 October 2007 and the Court sanction
of the scheme on 13 November 2007 shareholders are advised that the Panel has
received an objection relating to certain terms of the scheme settlement
consideration paid to Gold Reef`s non- executive chairman, M Krok.
In order to give proper consideration to the objection and the Securities
Regulation Code and the Rules which may be applicable thereto, and mindful of
the requirement of the Promotion of Administration Justice Act, 3 of 2000 in
regard to the procedures to be adopted, the Executive Director has determined
that interested parties will be given an opportunity to make written and oral
submissions to the Panel in regard to the objection and the Rules that may find
application in respect thereof. Having reviewed the objection, but without
having formed a view thereon, it appears to the Executive Director that the
applicability of, inter alia, Rules 13, 16, 19 and 20 may require
consideration. Interested parties will be given an opportunity to make oral and
written submissions in this regard to the Panel.
2. The Executive Director has decided to follow the timetable set out below in
relation to this matter:
2008
Written submissions to be made to the Panel by 16:00 Wednesday 23 January
Pertinent documents and submissions to be open for
inspection at the Panel`s offices until 16:00 Friday 25 January
All written supplementary submissions to be delivered to
the Panel by 16:00 Monday 28 January
Written response to submissions to be delivered to the
Panel by 12:00 Wednesday 30 January
Hearing before the Panel of parties who have made
submissions - 10:00 Thursday 31 January
You are hereby invited, if you should wish to do so, to make submission to the
Panel in accordance with the above timetable.
Johannesburg
22 January 2008
Securities Regulation Panel
2 Sherborne Road, Parktown, 2193 P.O. Box 91833, Auckland Park, 2006
Tel: (011) 482 5630 Fax: (011) 482 5635 e-mail: richardc@srpanel.co.za
Date: 22/01/2008 08:24:29 Produced by the JSE SENS Department.
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