Sallies to seek revision of Buffalo acquisition te
SAL
SAL
Sallies to seek revision of Buffalo acquisition terms and further cautionary
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1903/001879/06
JSE Share Code: SAL
ISIN: ZAE000022588
("Sallies" or "the Company")
SALLIES TO SEEK REVISION OF BUFFALO ACQUISITION TERMS AND FURTHER CAUTIONARY
ANNOUNCEMENT
The board of fluorspar miner Sallies announced today that it had decided not to
proceed with the acquisition of Buffalo Fluorspar on the terms formulated in its
agreement with vendor Transvaal Mining & Finance Company Limited. It will,
however, discuss the possible revision of those terms with the vendor with a
view to finding a mutually acceptable compromise.
Sallies" board approval was one of the conditions precedent for the acquisition.
The board said today the decision to turn down the deal in its present form was
based on a comprehensive analysis of the risk/reward profile following the
completion of the due diligence review.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the company"s securities until a further cautionary is made.
Johannesburg
3 July 2006
Sponsor
Ernst & Young Sponsors (Pty) Ltd
(Registration number 2000/031843/07)
Date: 03/07/2006 02:02:55 PM Produced by the JSE SENS Department
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