To The Point Investments - Acquires a 47.8% stake in Village Main Reef Gold
VIL
VIL
To The Point Investments - Acquires a 47.8% stake in Village Main Reef Gold
Mining Compnay - Potential offer to the minorities of village
TO THE POINT GROWTH SPECIALIST INVESTMENTS 2 (PTY) LTD
(Incorporated in the Republic of South Africa)
(Registration number: 2007/025362/07)
("To The Point Investments")
Share code: VIL ISIN: ZAE000007720
TO THE POINT GROWTH INVESTMENTS ACQUIRES A 47.8% STAKE IN VILLAGE MAIN REEF GOLD
MINING COMPNAY ("VILLAGE") - POTENTIAL OFFER TO THE MINORITIES OF VILLAGE
During June 2008 To The Point Investments acquired 606 809 shares (10%) of the
issued share capital of the JSE listed Village from Mr Cobbett, a long standing
shareholder for an amount of R606 809.00 at 100 cents per share. Mr Cobbett
nevertheless remains a substantial shareholder of Village with an approximate
13% shareholding.
To The Point Investments has now acquired a further 2 295 663 shares (37.8%) of
the issued share capital of Village from Harmony Gold Mining Company Limited
("Harmony") at a price of 46.0215 cents per share amounting to R1 056 498.55.
To The Point Investments therefore holds 47.8% of Village and is thus obliged to
extend and offer to minority shareholders of Village in terms of the Securities
Regulation Code on Takeovers and Mergers. Such an offer is expected to be at 100
cents per share and further detail will be published within the regulatory
period.
To The Point Investments is a subsidiary of To The Point Growth Specialists
(Pty) Ltd founded by Bernard Swanepoel and Clinton Halsey and operates primarily
in the resources and resources-related space as advisor and co-investor.
11 July 2008
Johannesburg
For more details contact: Advisers to To The Point
Bernard Swanepoel Investec Bank Limited
+2783 303 9922 Corporate Finance
Lizelle du Toit
+2782 465 1244
Date: 11/07/2008 09:30:01 Produced by the JSE SENS Department.
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