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Village Main Reef Gold Mining Company (1934) -
Village Main Reef Gold Mining Company (1934)
(Incorporated in the Republic of South Africa)
(Share code: VIL ISIN ZAE000007720 )
(Registration number 1934/005703/06)
("the Company")
STATEMENT ON THE CLOSURE OF THE MINE
At the Annual General Meeting held on Thursday, 23 October 2003, the Chairman
reported that significant progress had been made during the year towards
reducing the Company"s outstanding liabilities:
- The Company"s only remaining freehold property,
Portion 9 of the farm Turffontein (4 hectares), is subject to advanced sale
negotiations;
- Clearance was received during the last year from the National Nuclear
Regulator on three sites, and all remaining sites are expected to achieve
clearance once government effects new regulations within the near future. The
Company will then be in a position to cancel its nuclear licence and remove this
significant constraint on orderly closure of defunct operations; and
- Negotiations are progressing on the disposal of all remaining mine dumps,
together with associated environmental liabilities that are the responsibility
of the Company. With the exception of one small dump, all dumps are well
vegetated and require minimal maintenance. Existing environmental rehabilitation
trust funds and cash resources are adequate to meet any current liabilities.
Other business concluded at the meeting was:
- The approval of the annual financial statements for the year ended 30 June
2003;
- The re-election of Messrs M Arnold, DN Campbell, RP Menell and AN Lewis as
directors of the Company; and
- The passing of two ordinary resolutions i.e. (1) placing all the authorised
but unissued ordinary shares in the capital of the Company under the control of
the directors and, (2) authorising the directors to allot and issue for cash,
without restriction, all or any of the authorised but unissued ordinary shares
placed under their control, as they deem fit, subject to the provisions of the
JSE Listings Requirements.
The above business was detailed in the notice of the annual general meeting
circulated to shareholders on 30 September 2003.
Directors: RP Menell (Chairman), DN Campbell, M Arnold and AN Lewis
Secretaries: Anglovaal Mining Limited
Registered office:
56 Main Street, Johannesburg 2001, PO Box 62379, Marshalltown, 2107
JOHANNESBURG
23 October 2003
Sponsor
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Proprietary) Limited
(Reg. No. 1995/011798/07)
Date: 23/10/2003 04:53:37 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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