VIL
VIL
VIL - Village - The Claw-Back Offer (The "Offer")
Village Main Reef Gold Mining Company (1934) Limited
("Village" or "the company")
(Incorporated in the Republic of South Africa)
(Registration Number 1934/005703/06)
JSE Code VIL ISIN: ZAE000007720
THE CLAW-BACK OFFER (the "Offer")
Village shareholders are referred to the announcement released on SENS on
7 November 2008 relating to the Offer and are advised that following protracted
negotiations with the JSE Limited ("JSE") the directors of Village have decided
not to proceed with the Offer at this stage.
The previous circular Village posted to shareholders on 17 September 2008
related to the restructuring of the share capital, general authority to issue
shares for cash, and the waiver of the mandatory offer and was approved by the
JSE on 16 September 2008. The general meeting of the company was held on 10
October 2008 where all proposed resolutions were approved.
The JSE informed Village`s advisers that in order to receive formal approval for
the Offer circular the following paragraph must be included: ".that Village,
subsequent to the claw back offer, will no longer be a curtailed operation and
that Village will not satisfy the main board listings requirements. As a result
hereof the JSE will consider the suspension and/or termination of Village
subsequent to the claw back offer being implemented. The JSE will however grant
Village two weeks to make representations to the JSE as to why Village should
not be suspended and/or terminated. The two week period will commence on the
date that coincides with the listing and trading on the JSE of the claw-back
shares".
In view of the above the directors of Village have decided to withdraw the offer
at this stage in order to assess alternatives.
20 November 2008
Adviser and Sponsor:
Investec Bank Limited
Lead sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 20/11/2008 14:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
