| Wed 21 Jan 2009, 15:27 | | AFO - Aflease Gold - Shareholders Give Thumbs Up To Aflease/BMA Union |
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AFO
AFO
AFO - Aflease Gold - Shareholders Give Thumbs Up To Aflease/BMA Union
Aflease Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/006179/06)
JSE Share code: AFO
ISIN: ZAE000075867
International Prime QX (OTCQX): AFSGY
("Aflease Gold")
SHAREHOLDERS GIVE THUMBS UP TO AFLEASE/BMA UNION
Johannesburg, 21 January 2009 - The shareholders of Aflease Gold (JSE code
AFO) and BMA Gold (ASX code BMO) today overwhelmingly voted in favour of the
deal which will combine the two companies to create a new gold mining,
development and exploration business known as Gold One International.
At meetings held in Johannesburg and Sydney, the 76.55% Aflease Gold
shareholders represented voted 100% in favour of the transaction while 99.8% of
BMA shareholders voted for it. The transaction involves the inward listing of
BMA on the JSE and the subsequent acquisition by BMA of all the issued ordinary
shares in Aflease Gold. The transaction has been approved by the South African
Reserve Bank and the JSE.
The new company will be listed on the Australian and Johannesburg stock
exchanges and will have assets including Aflease Gold`s new Modder East mine
near Johannesburg, which is on track for first production by the end of 2009, a
gold resource of more than 15 million ounces, and gold exploration and
development projects in Australia, South Africa, Namibia and Mozambique.
Aflease Gold chief executive Neal Froneman said the shareholder vote showed
strong support for the companies` strategy to build Gold One into a leading mid-
tier gold producer with an attractive growth profile.
Aflease Gold still needs its bondholders to waive a technical change of control
condition before the scheme can be implemented and a meeting of bondholders is
expected to take place during mid-February for Aflease to seek the required
waiver.
"Our bondholders have much to gain from the creation of a stronger company with
significantly enhanced prospects and I am confident that they will agree with
shareholders about the merits of the transaction and support its completion," he
said.
Issued by Aflease Gold Limited
For further information contact Neal Froneman, chief executive,
on +27 83 628 0226
Website : www.afleasegold.com
FORWARD-LOOKING STATEMENT: This news release includes certain "forward-looking
statements" and "forward-looking information". All statements other than
statements of historical fact included in this release including, without
limitation, statements regarding future plans and objectives of Aflease Gold and
BMA Gold are forward-looking statements (or forward-looking information) that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors
could cause actual results to differ materially from Aflease Gold and BMA Gold`s
expectations. Such factors include, among others, the actual results of
exploration activities, actual results of reclamation activities, the estimation
or realisation of mineral reserves and resources, the timing and amount of
estimated future production, costs of production, capital expenditures, costs
and timing of the development of new deposits, availability of capital required
to place Aflease Gold and BMA Gold`s properties into production, conclusions of
economic evaluations, changes in project parameters as plans continue to be
refined, future prices of gold and other commodities, possible variations in ore
grade or recovery rates, failure of plant, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, Aflease Gold and BMA
Gold`s hedging practices, currency fluctuations, title disputes or claims
limitations on insurance coverage, Although Aflease Gold and BMA Gold have
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Aflease
Gold and BMA Gold do not undertake to update any forward-looking statements that
are included herein, except in accordance with applicable securities laws. No
stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.
Date: 21/01/2009 15:27:01 Produced by the JSE SENS Department.
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