SIM - Simmer & Jack Mines Limited - Update to shareholders
SIM
SIIF
SIM - Simmer & Jack Mines, Limited - Update to shareholders
Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM
ISIN Code: ZAE000006722
("Simmers" or "the Company")
UPDATE TO SHAREHOLDERS
Shareholders are advised that certain conditions precedent to the sale by the
Company to Stonewall Mining (Proprietary) Limited of all of the Company`s shares
in and claims on loan account against Transvaal Gold Mining Estates Limited and
Sabie Mines (Proprietary) Limited ("sale") remain outstanding. Accordingly,
Simmers continues to hold these assets which remain on the balance sheet of the
Company and has therefore not yet been reclassified as a cash shell in terms of
the JSE Limited ("JSE") Listings Requirements and is still listed in the Mining
-Gold sector of the JSE Lists. The Company will however be classified as a cash
shell once the sale become unconditional and to the extent no further viable
acquisitions have been made by the Company at that point.
The JSE has in the interim requested further information regarding the assets
held by the Company, being the subject of the sale. The Company is in the
process of considering certain acquisition opportunities and is in discussions
with the JSE regarding remaining listed in the Mining sector of the JSE Lists
and not being reclassified as a cash shell.
Shareholders will be advised of all developments relating to the aforementioned
issues.
Johannesburg
15 February 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/02/2012 17:39:19 Produced by the JSE SENS Department.
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