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SIM - Simmer & Jack Mines, Limited - Fulfilment of conditions precedent in

Release Date: 18/06/2012 16:14
Code(s): SIM
Wrap Text

SIM - Simmer & Jack Mines, Limited - Fulfilment of conditions precedent in relation to the disposal of Transvaal Gold Mining Estates Limited and reclassification as a cash shell 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") FULFILMENT OF CONDITIONS PRECEDENT IN RELATION TO THE DISPOSAL OF TRANSVAAL GOLD MINING ESTATES LIMITED AND RECLASSIFICATION AS A CASH SHELL Shareholders are referred to the announcements released on SENS relating to the sale of Transvaal Gold Mining Estates Limited ("TGME"), the last of which was released on 15 February 2012 ("the Disposal"). In this regard, shareholders are advised that all conditions precedent to the Disposal have now been fulfilled. To the extent that any application to the Department of Mineral Resources in respect of Sabie Mines (Proprietary) Limited ("Sabie") or TGME is outstanding, Stonewall (Proprietary) Limited ("Stonewall") undertakes to continue with such application at their cost and have indemnified Simmers in this regard. Accordingly the Disposal became effective on 15 June 2012, and Simmers will be reclassified as a cash shell in terms of the JSE Limited Listings Requirements with effect from the commencement of trade on 19 June 2012. Simmers does however, intend retaining the listing and growing the company aggressively via well placed acquisitions. The company is currently in the process of finalising its strategy with a specific focus on mining services; and possibly mining investments in highly prospective areas in the Southern region of Africa. Simmers does have a priority opportunities list, which is under consideration. Shareholders will be advised of developments in this regard. Johannesburg 18 June 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 18/06/2012 16:14:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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