|
PET
PET
PET - Petmin Limited - Update on sale of Samquarz
PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET & ISIN: ZAE000076014
Share Code AIM: PTMN
("Petmin" or "the Company")
UPDATE ON SALE OF SAMQUARZ
This statement is not related to the Cautionary announcement issued by Petmin on
9 January 2012.
Shareholders are advised that Petmin has received notification from the
Competition Commission relating to the sale of its SamQuarz silica mine.
In its annual financial statements issued on 13 September 2011, Petmin announced
it had sold SamQuarz to Thaba Chueu Mining (Pty) Limited ("Thaba") for R259
million, subject to final approval from the Competition Commission and the
Department of Mineral Resources.
On 13 January 2012 the Competition Commission notified Petmin that it would not
authorize the sale.
The Commission`s decision relates to the strategic importance of SamQuarz as a
supplier to the producers of ferrosilicon and silicon metal in South Africa.
The board and management of Petmin, together with Thaba, are studying the
Commission`s decision and considering their options in consultation with
advisors and legal counsel.
The decision does not impact on Petmin`s ability to deliver on its strategy,
including the funding of current and future investments in South Africa and
abroad.
Petmin will advise shareholders in due course as to how it will proceed in light
of the Commission`s decision.
Enquiries:
Petmin
Bradley Doig +27 824 597 818
bradley@petmin.co.za
www.petmin.co.za
Media enquiries
Jonathon Rees +27 76 185 1827
Jonathon@proofcommunication.com
Nominated Advisor (AIM)
Numis Securities Limited +44 207 260 1000
Stuart Skinner
Sponsor and Corporate Advisor (JSE)
River Group
Andrew Lianos +27 834 408 365
Johannesburg
16 January 2012
Date: 16/01/2012 15:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
