SIM - Simmer & Jack Mines, Limited - Update to shareholders

SIM - Simmer & Jack Mines, Limited - Update to shareholders                     
Simmer & Jack Mines, Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1924/007778/06)                                            
Share code: SIM                                                                 
ISIN Code: ZAE000006722                                                         
("Simmers" or "the Company")                                                    
UPDATE TO SHAREHOLDERS                                                          
Shareholders are advised that certain conditions precedent to the sale by the   
Company to Stonewall Mining (Proprietary) Limited of all of the Company`s shares
in and claims on loan account against Transvaal Gold Mining Estates Limited and 
Sabie Mines (Proprietary) Limited ("sale") remain outstanding. Accordingly,     
Simmers continues to hold these assets which remain on the balance sheet of the 
Company and has therefore not yet been reclassified as a cash shell in terms of 
the JSE Limited ("JSE") Listings Requirements and is still listed in the Mining 
-Gold sector of the JSE Lists. The Company will however be classified as a cash 
shell once the sale become unconditional and to the extent no further viable    
acquisitions have been made by the Company at that point.                       
The JSE has in the interim requested further information regarding the assets   
held by the Company, being the subject of the sale. The Company is in the       
process of considering certain acquisition opportunities and is in discussions  
with the JSE regarding remaining listed in the Mining sector of the JSE Lists   
and not being reclassified as a cash shell.                                     
Shareholders will be advised of all developments relating to the aforementioned 
issues.                                                                         
Johannesburg                                                                    
15 February 2012                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 15/02/2012 17:39:19 Supplied by www.sharenet.co.za                     
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