Announcement Regarding The Disposal Of The Preside
Operations And The Share Premium Distribution
President Steyn Gold Mines Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/014461/06)
Share code: PGD; ISIN code: ZAE000026654
("PSGM")
ANNOUNCEMENT REGARDING THE DISPOSAL OF THE PRESIDENT STEYN GOLD MINING
OPERATIONS AND THE SHARE PREMIUM DISTRIBUTION
In the circular to PSGM shareholders dated 24 December 2001 and the results
announcement published on Wednesday, 16 January 2002, it was announced that
PSGM will dispose of its gold mining operations, including the T.M. Training
Initiative, to Thistle Mining Incorporated ("the disposal"), and that a
share premium distribution of 55 cents per PSGM share will be paid to
shareholders ("the share premium distribution").
The disposal has now become unconditional and payment is due on Friday, 1
February 2002. Once payment is received and all administrative matters
completed, an announcement will be made of the revised timetable in respect
of the share premium distribution.
Johannesburg
31 January 2002
Corporate adviser Attorneys to PSGM Attorneys to Thistle
Argil Corporate Finance Hofmeyr, Herbstein & Gihwala Werksmans
Sponsor Independent adviser
BoE Securities BoE Merchant Bank
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