SIM - Simmer - Resignation of Mr Martin Oberholster from the Board of Directors
SIM
SIIF
SIM - Simmer - Resignation of Mr Martin Oberholster from the Board of Directors
Of Simmers
Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM
ISIN Code: ZAE000006722
("Simmers" or the "company")
RESIGNATION OF MR MARTIN OBERHOLSTER FROM THE BOARD OF DIRECTORS OF SIMMERS
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited
shareholders are advised that the independent non-executive chairman of Simmers
has received and accepted the resignation of Mr Martin Eric Oberholster with
immediate effect.
Mr Oberholster believed that the uncertainties brought about by the resignations
of certain Simmers directors followed by an attempt by Vulisango to call a
general meeting in order to impose a different board of directors has
exacerbated an inherent conflict of interests for him. This conflict was brought
about by his position as an employee of Rand Merchant Bank (a material
shareholder of Simmers) on the one hand, and as a director of Simmers
representing all shareholders, on the other.
"Martin Oberholster has been a tremendous asset to the Simmers board and we
understand his reasons for stepping down. On behalf of my colleagues I want to
thank him for the efforts he has put in for the company," said Simmers`
Chairman, Nigel Brunette.
Johannesburg
27 November 2009
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
Sponsor
Date: 27/11/2009 15:04:01 Produced by the JSE SENS Department.
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