SAL - Sallies Limited - Re-Opening of Witkop Mine changes to the executive
SAL SALD
SAL
SAL - Sallies Limited - Re-Opening of Witkop Mine, changes to the executive
responsibilities of a director and renewal of cautionary announcement
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL ISIN: ZAE000022588
JSE Code: SALD ISIN: ZAE000117305
("Sallies" or "the Company")
RE-OPENING OF WITKOP MINE, CHANGES TO THE EXECUTIVE RESPONSIBILITIES OF A
DIRECTOR AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Reopening of Witkop Mine
Further to the SENS announcement dated 19 January 2011 regarding the $8 million
facility extended to the Company by Maghreb Minerals Plc ("Maghreb"), the
Sallies board is pleased to announce that Witkop Fluorspar Mine (Proprietary)
Limited, the Company`s subsidiary, will be re-opening its Witkop Mine following
successful negotiations with key customers in which sizeable orders have been
secured.
Changes to the executive responsibilities of a director
Shareholders are hereby notified that Patrick Cooke has been appointed as the
Acting Chief Executive Officer of the Company with immediate effect. Patrick has
extensive knowledge of and experience in Sallies` business and will continue
with his current duties as Financial Director of the Company.
Renewal of cautionary announcement
Sallies shareholders and debenture holders are reminded that the proposed
transaction between Maghreb and Firebird as previously announced on 28 December
2010 remains conditional and the Sallies shareholders and debenture holders are
advised to continue to exercise caution when dealing in their shares and
debentures respectively, until such time as the terms of the mandatory offers
are published.
Johannesburg
15 February 2011
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 15/02/2011 08:58:02 Produced by the JSE SENS Department.
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