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SENTULA MINING LIMITED - Disposal of Megacube Assets

Release Date: 18/01/2013 08:45
Code(s): SNU     PDF:  
Wrap Text
Disposal of Megacube Assets

SENTULA MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
(“Sentula” or “the Company”)


DISPOSAL OF MEGACUBE ASSETS


Shareholders are referred to the announcement released on SENS on 8 January 2013 (“Announcement”),
and using the terms defined therein unless otherwise stated, are hereby informed that Sentula, Megacube
and the Auctioneer have entered into an addendum to the Agreement (“Addendum”) to record, inter alia, the
final list of Equipment which will be subject to the Auction. The book value of the Equipment to be auctioned
has been agreed at R266 million.

Shareholders are advised that subsequent to discussions regarding the categorisation of the Disposal with
the JSE pursuant to the Listings Requirements, the JSE has determined that the Disposal constitutes a
Category 1 transaction. Accordingly, a circular containing full details of the Disposal (“Circular”), including,
inter alia, a notice to convene a general meeting of shareholders of Sentula in order to consider and, if
deemed fit to pass, with or without modification, the resolutions necessary to approve and implement the
Disposal, will be distributed to shareholders of Sentula in due course. In light of the Category 1 transaction
requirements, and in terms of the Addendum, Megacube is entitled (but not obliged) to postpone the date of
the Auction by way of written notice to the Auctioneer so as to provide Sentula with a reasonable period of
time within which to comply with the aforementioned requirements of the JSE. Shareholders will be advised
of the Auction date in due course.

Shareholders are referred to the Announcement and are reminded to continue to exercise caution when
dealing in Sentula’s securities until a further announcement, incorporating the pro forma financial effects of
the Disposal, is made.


Johannesburg
18 January 2013


Sponsor
Merchantec Capital

Legal advisors
Cliffe Dekker Hofmeyr

IR advisors
College Hill

Date: 18/01/2013 08:45:00 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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