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AFO
AFO
Aflease Gold launches ADR in New York
Aflease Gold Limited
(Formerly Sub Nigel Gold Mining Company Ltd)
(Incorporated in the Republic of South Africa)
Share Code: AFO (JSE)
(Registration number 1984/006179/08)
ISIN: ZAE000075867
("Aflease Gold" or "the Company")
Aflease Gold launches ADR in New York
Johannesburg: May 22nd: Aflease Gold (JSE: AFO; ADR: AFSGY) was
pleased to announce that a level one ADR listing was launched on the Nasdaq in
New York today. The listing is sponsored by the Bank of New York.
The decision to pursue the ADR was prompted by a number of factors, including
the desire to increase the liquidity of the share, to attract a larger foreign
investor base, to make the share more tradable for existing overseas investors
and to boost the profile of the company.
Aflease Gold holds a portfolio of mining and exploration projects in Southern
Africa, including its flagship Modder East gold mining project, on which
preparatory construction work has been launched this week.
Said Aflease Gold CEO Neal Froneman:
"With an exciting portfolio of assets and the desire to grow the company
further Aflease Gold has taken the first step in reaching out to the global
investment community. We are preparing to do more exploration work on a
number of other promising projects."
* * *
Aflease Gold Limited is a South African gold exploration and development
company with its primary listing on the Johannesburg Stock Exchange. Aflease
Gold owns the Modder East Gold Project as well as the South African gold
assets of the former Sub Nigel Gold Mining Company. Aflease Gold Limited is
owned as to approximately 79% by TSX and JSE-listed sxr Uranium One Inc.
Note to Editors:
The generally accepted benefits of an ADR to a Company include:
* Enlarge the issuer"s market for its shares through a broadened and more
diversified exposure that often increases or stabilizes the share price.
* Enhance the global image and visibility of products and services.
* Provide a mechanism for raising capital or acquiring another company.
* Facilitate M&A activity by creating a desirable acquisition currency.
* Enhance communications with shareholders
* Provide a more visible platform for increased research coverage.
The benefits to Investors include:
* Facilitate portfolio diversification into foreign securities
* Easy to acquire - ADRs are quoted in U.S. dollars and the two are
interchangeable.
* Easy to hold - ADRs settle and clear efficiently and pay dividends in
U.S. dollars. Corporate action documentation and meeting material is
delivered in English. Accounting and disclosure is in internationally
accepted formats.
* Inexpensive to hold - Global custodian safekeeping charges are eliminated
* ADRs overcome obstacles that mutual funds, pension funds and other
institutional investors may have in purchasing and holding securities
outside of their local market.
For further information please contact:
Neal Froneman
Chief Executive Officer
Tel: + 27 11 482-3605
Carol Smith
Investor Relations
Tel: + 27 11 482-3605
Don Falconer
Vice President, Investor
Relations
Tel: +1 416 350-3657
Cautionary note concerning forward-looking statements: Certain of the
information contained in this news release constitutes "forward-looking
statements". Such forward-looking statements include the Corporation"s
expectations related to the future growth of Aflease Gold Limited, as well as
market fluctuations. Forward-looking statements are not statements of
historical fact and involve known and unknown risk and uncertainties which are
beyond the ability of the Corporation to control or predict and which could
cause actual events or results to differ materially from those anticipated in
such forward-looking statements.
Date: 22/05/2006 04:55:05 PM Produced by the JSE SENS Department
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