| Wed 9 Jul 2003, 8:49 | | Implementation and Results of the odd-lot |
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Gold Reef Casino Resorts Limited -
GOLD REEF CASINO RESORTS LIMITED
(Incorporated in the Republic of South Africa
(Registration number 1989/002108/06)
Share Code: GDF ISIN Code: ZAE000028338
("GRCR" or "the Company")
Implementation and Results of the odd-lot offer
1. Implementation of the odd-lot offer
Further to the announcement dated 19 June 2003, ordinary shareholders are
advised that the odd-lot offer to ordinary shareholders who held fewer than 200
ordinary shares in GRCR ("odd-lot holders") as at close of business on Friday, 4
July 2003 ("odd-lot holdings") has been duly implemented.
2. Results of the odd-lot offer
The total number of ordinary shares made available by 23 odd-lot holders who
elected to sell their odd-lot holdings and by 202 who failed to make an election
and who were therefore deemed to have sold their holdings is 13 501 ordinary
shares. These shares have been repurchased by GRCR in terms of the specific
authority granted at the annual general meeting held on Thursday, 19 June 2003
at R3,59 per ordinary share (being the offer price as announced on 20 June
2003), amounting to a total cash consideration of R48 468,59. These ordinary
shares will be cancelled, delisted and restored to the status of authorised
ordinary share capital.
The total number of ordinary shares purchased by 17 odd-lot holders who elected
to purchase sufficient additional ordinary shares to increase their odd-lot
holdings to holdings of 200 ordinary shares is 1 831 ordinary shares, which
shares have been issued by GRCR at R3, 59 per ordinary share for a total cash
consideration of R6 573,29, in terms of the specific authority granted at the
annual general meeting held on Thursday, 19 June 2003. The listing of these
ordinary shares has been approved by the JSE Securities Exchange South Africa
(`JSE").
The total number of ordinary shares retained by 20 odd-lot holders who elected
to retain their odd-lot holdings is 1910 ordinary shares.
3. Odd-lot holders who hold certificated ordinary shares
New share certificates will be posted by registered post and cheques/electronic
transfers will be posted/effected in respect of ordinary shareholders holding
share certificates against surrender of existing documents of title, on or about
Monday, 7 July 2003, at the risk of such odd-lot holders.
All odd-lot holders who elected to sell their odd-lot holdings or who failed to
make an election and who were therefore deemed to have sold their odd-lot
holdings and who have not submitted their relevant documents of title to the
transfer secretaries, Computershare Limited, Ground Floor, 70 Marshall Street,
Johannesburg, 2001 (PO Box 1053, Johannesburg, 2000), are reminded to do so in
order for payment in respect of their sold odd-lot holdings to be released or
effected. These odd-lot holders are also reminded that their documents of title
will no longer be good for trade on the JSE after Friday, 27 June 2003.
All documents of title received by the transfer secretaries by 12:00 on Friday,
4 July 2003 were attended to and new share certificates will be despatched by
registered post from Monday, 7 July 2003 at the risk of the odd-lot holders
concerned. All documents of title received thereafter will be attended to and
cheques will be despatched within five business days of receipt of the existing
documents of title.
4. Odd-lot holders who hold dematerialised ordinary shares
On Monday, 7 July 2003 odd-lot holder"s accounts with the Central Securities
Depository Participant ("CSDP") or broker selected by that odd-lot holder were
updated and/ or debited/credited as a result of the implementation of the odd-
lot offer.
Johannesburg
8 July 2003
Investment bank and Sponsor
Nedbank Corporate
Corporate law advisers and consultants
Edward Nathan & Friedland
Attorneys
Werksmans
Date: 08/07/2003 04:33:04 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
