Simmers - Grant of Mining Rights & Withdrawal of C
SIM
SIIF
Simmers - Grant of Mining Rights & Withdrawal of Cautionary Announcement
SIMMER AND JACK MINES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM
ISIN: ZAE000006722
("Simmers" or "the company")
GRANT OF MINING RIGHTS BY THE DEPARTMENT OF MINERALS AND ENERGY ("DME")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Further to the announcement published on 18 May 2006 regarding settlement of the
dispute between the shareholders of Jaganda (Pty) Ltd ("Jaganda"), shareholders
are advised that approval by the DME of Simmers" application for mining rights
in respect of Randfontein 4 shaft ("4 shaft") has now been received. This
satisfies the principal condition precedent to the settlement agreement referred
to in that announcement.
Furthermore, pursuant to the settlement agreement, the board of directors of
Simmers has appointed Messrs Valence Watson and Siviwe Mapiso as directors of
the company with immediate effect.
Good progress is being made with the other matters referred to in the previous
announcement, including the issues of shares for cash. All the conditions
precedent to the settlement have accordingly been met.
Withdrawal of cautionary announcement
In the light of the above, the cautionary announcement released on SENS on 21
April 2006 is hereby withdrawn.
Johannesburg
29 May 2006
Johannesburg
Sponsor and corporate adviser to Simmers
SASFIN CAPITAL
(A division of Sasfin Bank Ltd)
Corporate adviser to Vulisango
Sovereignty Capital (Pty) Ltd
Date: 29/05/2006 02:59:05 PM Produced by the JSE SENS Department
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