PZG
PZG
PZG - Pamodzi - Update on group funding
Pamodzi Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/013039/06)
Share code: PZG
ISIN: ZAE000088563
("Pamodzi")
UPDATE ON GROUP FUNDING
Further to the previous SENS announcement dated 31 July 2009, the Board of
Directors of Pamodzi are pleased to announce that they have today received
a signed letter of commitment from a potential investor in the amount of
R626 million which is to be invested in the Pamodzi group by way of debt
and equity. This substantial offer is backed up by sufficient proof of
funds.
The objective of this proposed investment is to provide a group solution to
the funding challenges being experienced by the Pamodzi group with the
overall objective of saving as many jobs as possible by bringing some or
all of the group companies which are currently in provisional liquidation,
out of provisional liquidation.
This investment is subject to the conclusion of a satisfactory due
diligence process which is anticipated to be completed in the near term.
Shareholders will be further informed as events transpire.
18 August 2009
Bruma
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/08/2009 15:18:08 Produced by the JSE SENS Department.
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