GDN- Gooderson - Acquisition of Remaining 50% of B
GDN
GDN
GDN- Gooderson - Acquisition of Remaining 50% of Bushlands
GOODERSON LEISURE CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1972/004241/06)
(JSE code: GDN ISIN: ZAE000084984)
("Gooderson" or "the company")
ACQUISITION OF REMAINING 50% OF BUSHLANDS GAME LODGE (PTY) LIMITED
Shareholders are advised that Gooderson has purchased the remainder of Bushlands
Game Lodge (Pty) Limited (Bushlands) which were previously operated as a 50%
joint venture with Zululand Tours and Safaris CC ("the transaction"). The
Bushlands consist of the Bushlands Game Lodge, DumaZulu Traditional Village &
Lodge as well as the touring company, Zululand Tours and Safaris.
Gooderson manages and provides accommodation and services to hotels, timeshare
resorts and lodges. The acquisition provides the company with access to the
lodges` growth and expansion capacity as well as opportunities for timeshare
development.
The purchase consideration of R3.75 million, was paid from the company`s own
resources with the effective date of the transaction being 1 September 2006.
12 December 2006
Johannesburg
Designated Adviser
Exchange Sponsors
Warning: The listing of ordinary shares in the company is on ALTx. Investors
are advised of the risks of investing in a company listed on ALTx. Investors are
advised that the JSE does not guarantee the viability or the success of a
company listed on ALTx. In terms of the Listings Requirements, the company is
obliged to appoint and retain a Designated Adviser, which is required to, inter
alia, attend all board meetings held by the company to ensure that all the
Listings Requirements and applicable regulations are complied with, approve the
Financial Director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a Designated
Adviser, it must make arrangements to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its
securities. If a Designated Adviser is not appointed within 30 days of its
suspension, the company faces the termination of its listing without the
prospect of an appropriate offer to minority shareholders.
Date: 12/12/2006 15:34:01 Produced by the JSE SENS Department.
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