The Afrikander Lease Limited - Termination Of The Acquisition By Aflease Of
Release Date: 16/03/2004 17:39:00 Code(s): AFL
THE AFRIKANDER LEASE LIMITED - TERMINATION OF THE ACQUISITION BY AFLEASE OF
KALAHARI GOLDRIDGE MINING COMPANY LIMITED
The Afrikander Lease Limited
(Incorporated in the Republic of South Africa)
AFL (JSE) AFKDY (NASDAQ)
(Registration number 1921/006955/06)
("Aflease")
ISIN Number: ZAE000000253
JSE Share Code: AFL
TERMINATION OF THE ACQUISITION BY AFLEASE OF KALAHARI GOLDRIDGE MINING COMPANY
LIMITED ("Kalgold") ("the acquisition")
Aflease shareholders are referred to the announcements published on SENS on 7
November 2003 and on 4 March 2004 relating to the acquisition.
Aflease shareholders are advised that Aflease successfully secured a credit
approved financing facility to fulfill its obligations in relation to the
acquisition. The terms of the financing facility are not acceptable to Harmony.
Aflease and Harmony have, as a consequence, decided to terminate the acquisition
agreement in respect of Kalgold.
Aflease will continue to focus on the development of its high margin projects,
notably Bonanza South and Modder East.
16 March 2004
Johannesburg
SPONSOR:
NEDBANK
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