SAL
SAL
SAL - Sallies - Cautionary Announcement
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL ISIN: ZAE000022588
("Sallies" or "the Company")
CAUTIONARY ANNOUNCEMENT
Sallies shareholders and debenture holders are advised that Sallies have been
informed by Maghreb Minerals PLC ("Maghreb"), a company listed on the London
Stock Exchange, that it has conditionally agreed to purchase, from Firebird
Global Master Fund, Ltd and Firebird Global Master Fund II, Ltd (together
"Firebird"), their total equity stake in Sallies of 484,958,606 ordinary
shares, which equates to a 66.9% shareholding in Sallies (which provides an
aggregate holding for Maghreb of 78.3% given its existing 11.4% stake in
Sallies).
The transaction between Maghreb and Firebird will result in a change in control
in Sallies and trigger a mandatory offer to Sallies shareholders and debenture
holders in terms of the rules of the Securities Regulation Panel.
Sallies shareholders and debenture holders as advised to exercise caution when
dealing in their shares and debentures respectively, until such time as the
terms of the mandatory offers are published.
Johannesburg
28 December 2010
Date: 28/12/2010 10:43:01 Produced by the JSE SENS Department.
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