| Fri 3 Dec 2010, 12:34 | | VIL - Village Main Reef Gold Mining Company (1934) Limited - Posting of |
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VIL
VIL
VIL - Village Main Reef Gold Mining Company (1934) Limited - Posting of
circular regarding the acquisition of the Consolidated Murchison operations
and notice of general meeting
Village Main Reef Gold Mining Company (1934) Limited
Incorporated in the Republic of South Africa
(Registration Number 1934/005703/06)
Share code on the JSE: VIL
ISIN: ZAE000007720
("Village" or the "company")
POSTING OF CIRCULAR REGARDING THE ACQUISITION OF THE CONSOLIDATED MURCHISON
OPERATIONS AND NOTICE OF GENERAL MEETING
Shareholders are referred to the announcements released on the Securities
Exchange News Service on 7 October 2010 and 24 November 2010 respectively,
regarding Village having entered into binding agreements with To The Point
Growth Specialists (Pty) Limited and its affiliates ("To The Point"), in terms
of which Village will, subject to the fulfilment or waiver of certain
suspensive conditions:
- indirectly acquire a 74% interest in Consolidated Murchison Mine (Pty)
Limited ("Cons Murch") from To The Point for a total consideration of
ZAR30 million;
- acquire certain rights under a mine management agreement with Cons Murch
from To The Point for a total consideration of ZAR10 million; and
- inject, by way of a convertible loan, ZAR20 million into Cons Murch,
hereinafter the "Proposed Transaction".
Shareholders are advised that a circular to shareholders including a notice of
general meeting relating to the Proposed Transaction was posted to
shareholders today, Friday, 3 December 2010.
The general meeting of Village shareholders will be held at 10:00 on Monday,
20 December 2010 at the offices of Macquarie First South Advisers
(Proprietary) Limited, The Place, 1 Sandton Drive, Southwing, Sandown.
A copy of the circular and the full independent Competent Persons` Report on
the Cons Murch Mine prepared by Minxcon (Proprietary) Limited is available on
the Company`s website at www.villagemainreef.co.za.
Bryanston
3 December 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
Technical Advisor
Minxcon (Proprietary) Limited
Investor Relations
Vestor Media and Investor Relations
Bernard Swanepoel Dorian Wrigley
Village Chief Executive Officer Village Chief Operating Officer
083 303 9922 (mobile) 011 484 5005 (office)
bernard@villagemainreef.co.za 082 493 2278 (mobile)
dorian@villagemainreef.co.za
Louise Brugman Clinton Halsey
Vestor, Media and Investor Village Chief Financial Officer
Relations 083 289 5422 (mobile)
011 787 3015 (office) clinton@villagemainreef.co.za
083 504 1186 (mobile)
Date: 03/12/2010 12:34:01 Produced by the JSE SENS Department.
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