Simmer & Jack Mines Limited - Position in relation
Simmer & Jack Mines Limited - Position in relation to the Stilfontein Gold
Mining Company Limited (`Stilfontein`) Liquidation
Simmer & Jack Mines Limited
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1924/007778/06)
SHARE CODE: SIM ISIN: ZAE000006722
(`SIMMERS`)
POSITION IN RELATION TO THE STILFONTEIN GOLD MINING COMPANY LIMITED
(`STILFONTEIN`) LIQUIDATION
Shareholders are referred to the Stilfontein announcement published on SENS on
17 June 2005 relating to the Department of Water and Forestry (`DWAF`) and Anglo
Ashanti (`Anglo`) having opposed the liquidation of Stilfontein as DWAF and
Anglo are alleging that Stilfontein should be responsible and continue to pay
for the pumping expenses in the area.
The Stilfontein board, being Roger Kebble, Hennie Buitendag, Gordon Miller and
Brett Kebble (three of which are directors of Simmers) had therefore taken the
decision to support the appointment of new directors of Stilfontein to be
nominated by Anglo. If Anglo does not nominate new directors then it is the
intention of the board to resign and leave the appointment of new directors to
the Stilfontein shareholders.
The decision was taken to lay to rest the allegation that because Simmers and
Stilfontein share common directors, the Stilfontein board may influence
Stilfontein decisions in Simmers interests. It is well known that Simmers is
attempting to save the mines in the basin concerned that DRDGold abandoned. By
resigning the common directors are distancing themselves from any decision where
conflict of interest could be alleged. Shareholders will be kept abreast of all
developments in this regard.
Johannesburg
17 June 2005
Date: 17/06/2005 10:35:41 AM
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