MTX - Metorex Limited - Disposal And Further Cautionary Announcement
MTX
MEMTX
MTX - Metorex Limited - Disposal And Further Cautionary Announcement
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex" or "the Company")
DISPOSAL BY METOREX OF 70 417 036 ORDINARY SHARES IN PAN AFRICAN RESOURCES PLC
("PAR") TO SHANDUKA GOLD (PROPRIETARY) LIMITED ("SHANDUKA") ("THE DISPOSAL") AND
FURTHER CAUTIONARY ANNOUNCEMENT
THE DISPOSAL
Shareholders are referred to the announcements by the Company dated 19 June 2009
and 25 June 2009 wherein the disposal of 5% of the enlarged share capital of PAR
by Metorex to Shanduka for a purchase price of 65 cents per share was described.
Metorex is pleased to confirm that Venmyn Rand (Proprietary) Limited has
completed a fairness opinion ("the Opinion"), in accordance with paragraph 10.7
(b) Listings Requirements of the JSE Limited, and found the Disposal to be fair
to Metorex shareholders. The Opinion will be available for inspection at the
registered office of the Company for a period of 28 days from the release of
this announcement.
All conditions precedent to the disposal have either been fulfilled or waived.
Accordingly, Metorex expects to receive the full proceeds from the Disposal of
R45.8 million on or about 28 August 2009.
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are advised that Metorex remains involved in negotiations which may
have a material effect on the price of the Company`s securities.
Accordingly, shareholders should continue to exercise caution when dealing in
their Metorex securities until a further announcement is made.
Rosebank
21 August 2009
Sponsor and Corporate Advisor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 21/08/2009 13:50:01 Produced by the JSE SENS Department.
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