Gold Reef Casino Resorts Limited - Result Of The S
GOLD REEF CASINO RESORTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1989/002108/06)
(Share code GDF ISIN ZAE000028338)
("GoldReef")
RESULT OF THE SPECIFIC PRO RATA REPURCHASE OFFER
Shareholders are referred to the circular posted on 17 December 2002 and the
subsequent announcement setting out the results of the general meeting on 8
January 2003. The specific pro rata repurchase offer ("the repurchase offer")
to acquire 8% of the issued share capital of GoldReef closed at 16h00 on Friday,
31 January 2003.
GoldReef shareholders holding 160 633 063 GoldReef shares of a maximum of 177
941 830 GoldReef shares accepted the repurchase offer for 12 850 645 GoldReef
shares of a maximum of 14 235 346 GoldReef shares. In regard to the rights
given to shareholders to tender shares in excess of their entitlement in terms
of the repurchase offer ("the excess tender") 36 465 147 GoldReef shares were
tendered for the 1 384 701 GoldReef shares not taken up in terms of the
repurchase offer. The board of directors has resolved to accept the excess, on
a pro rata basis for those shares tendered in terms of the excess tender, in the
ratio of 3,79733 per 100 GoldReef shares tendered in terms of the excess offer.
Cheques in respect of the repurchase consideration have been mailed at the risk
of certificated shareholders or electronically transferred to those certificated
shareholders who participated in the repurchase offer. Balance certificates (if
applicable) due to certificated shareholders pursuant to the repurchase offer
have been mailed to shareholders concerned, by registered mail, at the risk of
such shareholders. Dematerialised shareholders have had their accounts held at
their CSDP or broker credited and updated.
The 14 235 346 GoldReef shares purchased in terms of the repurchase offer will
be held as treasury stock.
Johannesburg
3 February 2003
Investment bank Attorneys Corporate law
and sponsor advisers and
consultants
Werksmans
Nedbank Corporate ENF
Date: 03/02/2003 12:58:00 PM Produced by the JSE SENS Department
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