PTG
PTG
Peermont Global - Extension Of Agreements
Peermont Global Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/0004449/06)
Share Code: PTG
ISIN: ZAE000058053
("Peermont Global")
EXTENSION OF AGREEMENTS RELATING TO THE ACQUISITION BY PEERMONT GLOBAL OF A
CONTROLLING INTEREST IN THE TUSK CASINO RESORTS AND HOTELS GROUP
Shareholders are referred to the announcement dated 21 December 2005, in which
the Peermont Global board of directors advised of the conclusion of agreements,
subject to the fulfilment on certain conditions precedent, to acquire a
controlling interest in Tusk Casino Resorts and Hotels Group ("the Tusk
transaction") from:
- Moribo Investments (Proprietary) Limited and Alliance Investment Holdings
(Proprietary) Limited, two wholly owned entities of Thebe Investment
Corporation (Proprietary) Limited ("Thebe") and the Lesedi Trust
(collectively Thebe);
- JS Franklin, TE Mokoena, and IP Mossop; and
- Stepney Investments (Proprietary) Limited, Bhambatha Investments
(Proprietary) Limited ("Bhambatha") and the other shareholders of Emanzini
Leisure Resorts (Proprietary) Limited.
The principal condition precedent remaining is the approval of the Tusk
transaction by the respective provincial gambling boards ("gambling boards") by
31 May 2006. The joint investigation of the Tusk transaction by the gambling
boards is expected to be completed by 26 May 2006. Peermont Global has been
advised by the respective gambling boards that the required formal meetings of
the gambling boards to consider the Tusk transaction have been scheduled to take
place by 31 July 2006.
Shareholders are advised that the date for the fulfilment of all conditions
precedent to the Tusk transaction has accordingly been extended from 31 May 2006
to 31 July 2006. The Tusk transaction in now expected to close by 31 July 2006.
Bryanston
19 May 2006
Sponsor
The Standard Bank of South Africa Limited
Date: 19/05/2006 01:21:09 PM Produced by the JSE SENS Department
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