GPL - Grand Parade Investments Limited - Voluntary announcement on proposed
GPL
GPL
GPL - Grand Parade Investments Limited - Voluntary announcement on proposed
changes to the Western Cape Provincial Policy and Legislation on Gambling
Grand Parade Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/003548/06)
Share code: GPL ISIN: ZAE000119814
("GPI")
VOLUNTARY ANNOUNCEMENT ON PROPOSED CHANGES TO THE WESTERN CAPE PROVINCIAL POLICY
AND LEGISLATION ON GAMBLING
Shareholders of GPI are advised that the Provincial Government of the Western
Cape (PGWC) has informed GPI that it intends announcing a change of policy which
will permit an existing Western Cape casino licence to relocate to an area
within the Cape Metropole which the PGWC believes is untapped by GrandWest and
further believes would not significantly impact on GrandWest`s revenues, as such
relocated licence would be focused on the niche "high roller and tourist"
market.
This change in policy will require legislative enactment and a public process,
which the PGWC have indicated is unlikely to be concluded before 2012.
The GPI Board is confident that it will be afforded an opportunity to give input
during this process and in so doing ensure a beneficial outcome for all
stakeholders, which is in line with the PGWC`s initial assurances as stated
above.
A further announcement will be made in due course when more information is
available.
15 July 2010
Sponsor to Grand Parade Investments Limited - PSG Capital (Pty) Limited
Date: 15/07/2010 15:08:01 Produced by the JSE SENS Department.
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