Phumelela Gaming And Leisure Limited - Voluntary Announcement
Release Date: 30/06/2004 17:51:18 Code(s): PHM
Phumelela Gaming and Leisure Limited - Voluntary announcement
Phumelela Gaming and Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
Share code: PHM ISIN: ZAE000039269
Voluntary announcement
On 21 May 2004 it was announced that Phumelela-Gold Enterprises (the partnership
between Phumelela and Gold Circle) (PGE) had concluded an agreement with The
Horse Racing Channel now known as Racing UK, the holder of the exclusive
television rights to 31 United Kingdom racecourses. PGE has subsequently
concluded exclusive agreements for the broadcast of United Kingdom and South
African racing into Sri Lanka, Caribbean and Russia and its adjacent
territories. These agreements together with existing revenue producing
operations meet the guaranteed minimum revenues as contemplated in the agreement
with Racing UK. Further simulcasting agreements with at least 6 territories are
anticipated to be concluded within 30 days, while negotiations continue with
several others. These arrangements will be earnings enhancing in forthcoming
years.
Johannesburg
30 June 2004
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