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President Steyn Gold Mines Limited - Thistle Offer Unconditional And Change Of
Salient Dates
PRESIDENT STEYN GOLD MINES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014461/06)
Share code: PGD; ISIN code: ZAE000026654
("PSGM")
THISTLE MINING INCORPORATED
(Incorporated in Yukon, Canada)
("Thistle")
THISTLE OFFER UNCONDITIONAL AND CHANGE OF SALIENT DATES
PSGM shareholders are advised that shareholders holding more than 90% of the
issued share capital of PSGM have accepted the offer by Thistle ("the offer") to
acquire all the issued shares in PSGM and that the Competition Commission has
approved the acquisition of PSGM by Thistle. The offer is therefore now
unconditional. Consequently a revised section 440K(1)(a) notice in terms of the
Companies Act, Act 61 of 1973, as amended ("the Act"), will be forwarded on
Monday, 31 March 2003, to those PSGM shareholders who, by Friday, 28 March 2003,
have elected not to accept the offer.
The new salient dates of the offer are set out below:
2003
Last day to trade in order to accept Thursday, 20 March
the offer
Offer closes at 16:00 on Friday, 28 March
Friday, 28 March
Record date to be recorded in the
register of members
Monday, 31 March
Issue of revised notice in terms of
section 440K of the Act
Monday, 31 March
Suspension of PSGM"s listing on the
JSE Securities Exchange South Africa
("JSE") (with effect from commencement
of trading on)
Monday,31 March
Results of the offer published: Tuesday, 1 April
on SENS
in the press
Cheques posted or bank accounts
credited of certificated shareholders
who accepted the offer and submitted
their documents of title. Safe custody
accounts credited of dematerialised
shareholders who advised their Central
Securities Depository Participant
("CSDP") or broker of their acceptance
on or before the closing date
Thursday, 3 April
Monday, 12 May
Last day for those PSGM shareholders
who are opposed to the compulsory
acquisition of their shares by Thistle
to apply at their cost to the High
Court of South Africa, in terms of
section 440K of the Act, failing which
section 440K of the Act will be
invoked by Thistle
After Monday, 12 May 2003, PSGM
shareholders who elected not to accept
the offer and whose shares are to be
compulsorily acquired by Thistle in
terms of section 440K of the Act will
receive payment of the offer
consideration within 5 business days
from the date that the transfer
secretaries receive their documents of
title, in respect of certificated
shareholders, or notification from
PSGM shareholders" CDSP or broker, in
respect of dematerialised
shareholders.
Wednesday, 14 May
Termination of listing of PSGM on the
JSE (with effect from commencement of
trading on)
Note:
Dematerialised PSGM shareholders are required to notify their duly appointed
CSDP or broker of their acceptance of the offer in the manner and time
stipulated in the agreement governing the relationship between the PSGM
shareholder and his/her CSDP or broker.
2 PSGM shareholders may not dematerialise or rematerialise their share
certificates after Thursday, 20 March 2003.
Johannesburg
20 March 2003
Corporate adviser to PSGM
Bishop Corporate Finance
Sponsor to PSGM
Nedbank Corporate
Attorneys to PSGM
Hofmeyr, Herbstein & Gihwala
Attorneys to Thistle
Werksmans
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