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Aflease - Southern Cross shareholders approve acquisition of Aflease
Aflease Gold and Uranium Resources Limited
(Formerly The Afrikander Lease Limited)
(Incorporated in the Republic of South Africa)
AFL (JSE) AFLUY (NASDAQ)
(Registration number 1921/006955/06)
ISIN: ZAE000061461 & Share Code: AFL
Southern Cross shareholders approve acquisition of Aflease
Aflease Gold and Uranium Resources (Aflease) wishes to advise that a resolution
in support of the acquisition of Aflease by Southern Cross Resources Inc (SXR)
was approved yesterday by SXR shareholders, with 99.9% of those who voted in
favour.
Details of the vote can be found in the following extract from last night"s SXR
announcement:
- Southern Cross Shareholders Approve Acquisition of Aflease
- Toronto, November 22, 2005 (TSX: SXR) - Southern Cross Resources Inc. (the
"Corporation") announces that, at a meeting held today, shareholders have
overwhelmingly approved a special resolution authorising the acquisition of
Aflease Gold and Uranium Resources Ltd. ("Aflease").
Specially, the following matters were approved:
- The acquisition of Aflease by way of a Scheme of Arrangement under the
provision of the Companies Act, 1973 (South Africa);
- Consolidation of the common shares of the Corporation on the basis of one
post-consolidation common share for each five existing common shares; and
- Changing the Corporation"s name to "sxr Uranium One Inc.".
At the meeting, 28,089,169 shares were represented, constituting 36.6% of the
total shares issued and outstanding. Votes in favour of the acquisition
resolution were 28,055,969 (99.9% of the total voted) and votes against were
26,700.
Mark Wheatly, Chairman and Chief Executive Officer, commented that "Such
overwhelming shareholder support for the acquisition of Aflease is testament to
the underlying value of the acquisition and the future prospects of the combined
company. The merger creates a market-leading intermediate uranium company with
the size and assets to take advantage of the best market for uranium in decades.
We look forward to a whole new and exciting future with sxr Uranium One".
Forward-looking statements
This announcement contains certain forward-looking statements. These forward-
looking statements are subject to a variety of risks and uncertainties which are
beyond Aflease"s ability to control or predict (including among others
regulatory and shareholders approval), which could cause actual events or
results to differ materially from those anticipated in such forward-looking
statements. In this announcement, predictions about the "Transaction being
approved and finalised are forward-looking statements. Readers should not place
undue reliance on forward-looking statements.
Notice to Investors
This announcement does not constitute an offer to sell or an invitation to
purchase or subscribe for any securities. The Securities offered by way of
exchange pursuant to the Transaction have not been and will not be registered
under the U.S. Securities Act of 1933, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.
For further information: Neal Froneman 083 628 0226
Carol Smith 082 338 2228
John Fraser 082 331 7330
Date: 23/11/2005 09:41:09 AM Produced by the JSE SENS Department
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