GDF - Gold Reef - Sale Of Casinos Austria`s Stake In Gold Reef
GDF
GDF
GDF - Gold Reef - Sale Of Casinos Austria`s Stake In Gold Reef
Gold Reef Resorts Limited
Incorporated in the Republic of South Africa
(Registration number 1989/002108/06)
Share code: GDF ISIN : ZAE000028338
("Gold Reef")
SALE OF CASINOS AUSTRIA`S STAKE IN GOLD REEF
Shareholders of Gold Reef are advised that Casinos Austria International
Holding GmbH ("Casinos Austria") has sold its entire shareholding in Gold
Reef, representing 60 226 988 shares (20.6%), to a leading South African fund
manager which will hold the shares on behalf of various clients.
Josef Leutgeb, Chief Financial Officer of Casinos Austria and Casinos
Austria`s representative on the Gold Reef Board said, "As shareholders and
management partners initially, we are proud of the value Gold Reef has
created for shareholders. Gold Reef management have placed the business on a
firm growth footing. We are selling our holding in line with our stated
strategy to be invested in entities over which we have significant management
control. We wish Gold Reef and all its employees and shareholders all the
best for the future."
By order of the Board
Johannesburg
21 May 2009
Sponsor
Nedbank Capital
Date: 21/05/2009 16:26:01 Produced by the JSE SENS Department.
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