WWR - White Water Resources - Results of General Meeting, Change to the Board of

WWR - White Water Resources - Results of General Meeting, Change to the Board of
Directors and Change in Company Secretary                                       
WHITE WATER RESOURCES LIMITED                                                   
Incorporated in the Republic of South Africa                                    
(Registration number 1933/004523/06)                                            
Share code: WWR     ISIN: ZAE000130712                                          
("White Water Resources" or "the company")                                      
RESULTS OF GENERAL MEETING, CHANGE TO THE BOARD OF DIRECTORS AND CHANGE IN      
COMPANY SECRETARY                                                               
Shareholders are advised that, at the general meeting of White Water Resources  
held on Tuesday,22 March 2011, convened in terms of the notice of general       
meeting contained in the circular to shareholders dated 25 February 2011        
("circular"), the resolutions necessary to approve the acquisition by White     
Water Resources of the Megamine Business from Gold One Africa, a wholly-owned   
subsidiary of Gold One, for a total consideration of R262 229 868, to be settled
by way of the issue of 1 048 919 472 pre-consolidation White Water Resources    
ordinary shares ("acquisition") resulting in the reverse takeover of White Water
Resources by Gold One, and the disposal by White Water Resources, in terms of   
section 228 of the Act, of the Megamine Business and the White Water Resources  
Sale Assets to Goliath SPV, were passed by the requisite majority of            
shareholders.                                                                   
In addition, shareholders are advised that the resolutions to approve the       
cancellation of the preference share capital, the consolidation of share        
capital, the increase in the authorised share capital, the change of name of the
company to Goliath Gold Mining Limited, the appointment of                      
PricewaterhouseCoopers Inc as the auditor of the company with effect from 1     
April 2011, the appointment of new members to the board, the amendment to the   
articles of association, the adoption of a share incentive scheme, the placing  
of the unissued shares under the control of the directors and the general       
authority to issue shares for cash, were also passed by the requisite majority  
of shareholders.                                                                
The special resolutions will be lodged for registration at the Companies and    
Intellectual Property Registration Office in due course.                        
Furthermore, in compliance with paragraph 3.59 of the Listings Requirements of  
JSE Limited ("JSE"), the current board of directors of White Water Resources    
("the board") hereby notifies its shareholders that, as a result of the approval
of the acquisitions, Messrs S Swana (Non-executive Chairman), WJ Mann (Chief    
Executive Officer), SJ Black (Financial Director), CE Pettit (Independent Non-  
executive Director) and PJ van Zyl (Independent Non-executive Director) shall   
step down and that the board will be reconstituted with effect from 23 March    
2011, as follows:                                                               
Director                                Designation                             
Mr Neal John Froneman                   Chief Executive Officer                 
Mr Mark Kenneth Wheatley                Non-executive Chairman                  
Mr Christopher Damon Chadwick           Chief Financial Officer                 
Mr Keith Alfred Rayner                  Independent Non-executive Director      
Mr David Lancaster Hodgson              Independent Non-executive Director      
Mr Phillip Edmund Lambert               Independent Non-executive Director      
Also, in compliance with paragraph 3.59 of the JSE Listings Requirements,       
shareholders are advised that Mr Pierre Kruger has been appointed as company    
secretary with effect from 23 March 2011, replacing Mr Russell Turner, who has  
resigned as company secretary.                                                  
For detailed definitions of the terms used in this announcement, shareholders   
are requested to refer to the circular.                                         
Cape Town                                                                       
22 March 2011                                                                   
Sponsor                                                                         
Merchantec Capital                                                              
Date: 22/03/2011 11:21:01 Supplied by www.sharenet.co.za                     
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