HCI
HCI
HCI - Hosken Consolidated Investments - Announcement
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)
("HCI")
Further update on the transaction between a subsidiary of HCI and certain
shareholders of Gold Reef Resorts Limited ("Gold Reef") pursuant to which the
HCI group will increase its indirect interest in Gold Reef ("transaction")
Introduction
Shareholders of HCI are referred to the announcement published by HCI on the
Securities Exchange News Service of the JSE Limited and in the press on 9
October 2008 where it was announced that Mainstreet 581 (Proprietary) Limited
("Mainstreet"), an indirect wholly-owned subsidiary of Tsogo Sun Holdings (Pty)
Ltd ("TSH"), had entered into an agreement with certain shareholders of Gold
Reef pursuant to which TSH`s interest in Gold Reef will be increased from
approximately 4,86% to 19.87% of the issued share capital of Gold Reef
("transaction"). As a result of the transaction, HCI`s indirect interest in
Gold Reef (via TSH) will increase to 7.55%.
Implementation and effective date of the transaction
Shareholders were previously advised that the effective date of the transaction
will be on registration of transfer of the share certificates into the name of
Mainstreet and that Gold Reef has sought to prevent this.
Shareholders are now advised that Gold Reef has consented to the transfer of the
shares into the name of Mainstreet. Accordingly the transaction has now been
implemented with the shares being registered in Mainstreet`s name today and 75%
of the purchase consideration being paid.
16th October 2008
Cape Town
Sponsor
Investec Bank Limited
Date: 16/10/2008 16:55:24 Produced by the JSE SENS Department.
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