| Tue 22 Mar 2011, 11:21 | | WWR - White Water Resources - Results of General Meeting Change to the Board of |
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WWR
WWR
WWR - White Water Resources - Results of General Meeting, Change to the Board of
Directors and Change in Company Secretary
WHITE WATER RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration number 1933/004523/06)
Share code: WWR ISIN: ZAE000130712
("White Water Resources" or "the company")
RESULTS OF GENERAL MEETING, CHANGE TO THE BOARD OF DIRECTORS AND CHANGE IN
COMPANY SECRETARY
Shareholders are advised that, at the general meeting of White Water Resources
held on Tuesday,22 March 2011, convened in terms of the notice of general
meeting contained in the circular to shareholders dated 25 February 2011
("circular"), the resolutions necessary to approve the acquisition by White
Water Resources of the Megamine Business from Gold One Africa, a wholly-owned
subsidiary of Gold One, for a total consideration of R262 229 868, to be settled
by way of the issue of 1 048 919 472 pre-consolidation White Water Resources
ordinary shares ("acquisition") resulting in the reverse takeover of White Water
Resources by Gold One, and the disposal by White Water Resources, in terms of
section 228 of the Act, of the Megamine Business and the White Water Resources
Sale Assets to Goliath SPV, were passed by the requisite majority of
shareholders.
In addition, shareholders are advised that the resolutions to approve the
cancellation of the preference share capital, the consolidation of share
capital, the increase in the authorised share capital, the change of name of the
company to Goliath Gold Mining Limited, the appointment of
PricewaterhouseCoopers Inc as the auditor of the company with effect from 1
April 2011, the appointment of new members to the board, the amendment to the
articles of association, the adoption of a share incentive scheme, the placing
of the unissued shares under the control of the directors and the general
authority to issue shares for cash, were also passed by the requisite majority
of shareholders.
The special resolutions will be lodged for registration at the Companies and
Intellectual Property Registration Office in due course.
Furthermore, in compliance with paragraph 3.59 of the Listings Requirements of
JSE Limited ("JSE"), the current board of directors of White Water Resources
("the board") hereby notifies its shareholders that, as a result of the approval
of the acquisitions, Messrs S Swana (Non-executive Chairman), WJ Mann (Chief
Executive Officer), SJ Black (Financial Director), CE Pettit (Independent Non-
executive Director) and PJ van Zyl (Independent Non-executive Director) shall
step down and that the board will be reconstituted with effect from 23 March
2011, as follows:
Director Designation
Mr Neal John Froneman Chief Executive Officer
Mr Mark Kenneth Wheatley Non-executive Chairman
Mr Christopher Damon Chadwick Chief Financial Officer
Mr Keith Alfred Rayner Independent Non-executive Director
Mr David Lancaster Hodgson Independent Non-executive Director
Mr Phillip Edmund Lambert Independent Non-executive Director
Also, in compliance with paragraph 3.59 of the JSE Listings Requirements,
shareholders are advised that Mr Pierre Kruger has been appointed as company
secretary with effect from 23 March 2011, replacing Mr Russell Turner, who has
resigned as company secretary.
For detailed definitions of the terms used in this announcement, shareholders
are requested to refer to the circular.
Cape Town
22 March 2011
Sponsor
Merchantec Capital
Date: 22/03/2011 11:21:01 Produced by the JSE SENS Department.
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