| Thu 18 Dec 2008, 17:00 | | PZG - Pamodzi Gold Limited - Posting of circular to shareholders |
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PZG
PZG
PZG - Pamodzi Gold Limited - Posting of circular to shareholders
Pamodzi Gold Limited
(formerly Bema Gold SA (Proprietary) Limited)
(Incorporated in South Africa)
(Registration number 2002/013039/06)
Share code: PZG ISIN number: ZAE000088563
("Pamodzi Gold" or "the Company")
POSTING OF CIRCULAR TO SHAREHOLDERS
Shareholders are advised that the circular to shareholders regarding the R400
million capital raising by the Company was posted on Wednesday, 17 December 2008
("the circular"). The general meeting, to be convened in terms of the notice of
general meeting attached to the circular, is scheduled for 10:00am on Thursday,
15 January 2009.
Shareholders are further advised that the JSE Limited ("JSE") has not given
their formal approval for the circular as a result of a term in the IDC loan
agreement, the BR facility and the Pamodzi Resources loan agreement (as detailed
in the circular) which requires the lenders to approve all material acquisitions
and disposals by the Company. These terms will be amended by the Company to the
satisfaction of the JSE by no later than the end of January 2009. Should these
terms not be amended to the satisfaction of the JSE, the JSE has indicated that
it will consider the suspension and possible termination of the listing of the
shares in Pamodzi Gold.
In addition, the Company has undertaken to sign the HVB loan agreement (as
detailed in the circular) by no later than Monday, 5 January 2009. The HVB loan
agreement will not contain any terms which require HVB to approve any material
acquisitions and/or disposals by the Company, furthermore, the HVB loan
agreement will not contain any provisions that are in breach of the JSE Listings
Requirements. In the event that the HVB loan agreement is not signed timeously,
the Company will withdraw the resolution in respect of the HVB future specific
issue as provided for in the notice of general meeting and an announcement to
this effect will immediately be released. In the event that the HVB loan
agreement is signed timeously, the Company will make an announcement advising
shareholders of the signature of the HVB loan agreement and that the HVB loan
agreement will lie open for inspection at the registered office of the Company.
Bruma
18 December 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/12/2008 17:00:21 Produced by the JSE SENS Department.
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