SIM - Simmer & Jack Mines Limited - Shareholder update
SIM
SIIF
SIM - Simmer & Jack Mines, Limited - Shareholder update
Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM ISIN Code: ZAE00006722
("Simmers" or "the Company")
SHAREHOLDER UPDATE
Johannesburg - Simmer & Jack Mines. Limited (JSE:SIM ZAE00006722) wishes to
inform shareholders that contrary to recent media reports, the company`s
Buffelsfontein Gold Mining Company Limited (BGM) is not on strike; nor is
Simmers one of the bidders for ERPM.
Business as usual at BGM
In November 2008 BGM issued a Section 189(a) Notice to organized labour
notifying it of its intention to begin a consultation process aimed at
optimising the business and ensuring that production targets are met in order to
avoid the need to retrench approximately 500 workers.
This process has been ongoing and several constructive meetings have been held
between labour and management. The protest march that took place yesterday
afternoon at 16h30 at BGM was an approved, pre-planned event attended by
approximately 1000 members of the National Union of Mineworkers (NUM). The
purpose of the march was to hand over a memorandum to management in which it
listed a series of demands with respect to current wage negotiations and the
rationalisation process.
While the NUM has declared a dispute over the process, no strike has been
called. Shifts are going ahead as normal and the negotiation process continues.
Simmers not bidding for ERPM
Recent media coverage has suggested that Simmers may be interested in purchasing
ERPM mine. This is untrue; Simmers` is not one of the bidders for ERPM.
Johannesburg
15 January 2009
Sponsor
Sasfin Capital (A division of Sasfin Bank Limited)
Date: 15/01/2009 14:35:02 Produced by the JSE SENS Department.
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