Phumelela Gaming And Leisure Limited - Announcemen
Phumelela Gaming And Leisure Limited - Announcement
Phumelela Gaming and Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
ISIN: ZAE 000039269
Share code: PHM
Further to the disclosure of information in the prospectus regarding a
commingling and partnership agreement with Gold Circle, Phumelela advises
that the partnership agreement with Gold Circle is still in the process of
being finalised.
The commingling agreement provides for the aggregation of the totalisator
turnover of Gold Circle with that of Phumelela`s, thereby creating national
betting pools and the partnership with Gold Circle will allow the
rationalising of the partners` telebetting operations and the developing of
new business opportunities outside of South Africa. In terms of the
commingling agreement, if the partnership agreement was not concluded by 19
June 2002, then either party may terminate the commingling agreement. The
parties have 30 days after 19 June 2002 to terminate the agreement.
Shareholders will be kept informed of any further developments.
Johannesburg
21 June 2002
Sponsor
Investec Securities
Date: 21/06/2002 07:15:00 AM Produced by the SENS Department
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