Aflease - Sanctioning of the scheme
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
("Aflease")
SANCTIONING OF THE SCHEME OF ARRANGEMENT
1. Sanctioning of the scheme
Further to the announcement dated Monday, 24 November 2005, Aflease
ordinary shareholders are advised that the scheme of arrangement ("the
scheme") in terms of section 311 of the South African Companies Act, 1973
(Act 61 of 1973) proposed by Southern Cross Resources Inc. ("Southern
Cross"), between Aflease and the Aflease ordinary shareholders, excluding
Southern Cross, was sanctioned by the High Court of South Africa (Transvaal
Provincial Division) ("the Court") on Tuesday, 6 December 2005.
2. Conditions precedent
The remaining condition precedent is that a certified copy of the Order of
Court sanctioning the scheme be registered by the Registrar of Companies.
It is expected that a certified copy of the Order of Court will be lodged
with the Registrar of Companies on Thursday, 8 December 2005 and that the
scheme will be implemented in accordance with the timetable set out in the
announcement dated Tuesday, 11 October 2005. The operative date of the
scheme is expected to be Tuesday, 27 December 2005.
Johannesburg
6 December 2005
South African Independent Reporting South African Independent
Investment Accountants Legal Counsel professional expert
Bank,
Corporate
Advisor and
Sponsor
Nedbank PWC Inc. Deneys Reitz E & Y
Capital Corporate Finance
Financial International Legal Counsel to the Specialised United
Advisor Legal Counsel Financial Advisor States Legal Counsel
BMO Nesbitt Davis & Company Fasken Martineau Latham and Watkins
Burns DuMoulin
South African
Legal Counsel
to Southern
Cross
WWB
Date: 06/12/2005 11:59:16 AM Produced by the JSE SENS Department
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