Wrap Text
Condensed consolidated interim results for the 6 months ended 31 December 2012
Village Main Reef Limited
(formerly known as Village Main Reef Gold Mining Company (1934) Limited)
(Registration number 1934/005703/06)
Share code: VIL
ISIN: ZAE000154761
INTERIM RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2012
REVIEWED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2012
KEY FEATURES
- R183 million of cash generated from operations for the six months ended
31 December 2012, compared to R87 million for the six months ended 31 December
2011, an improvement of 110%
- Basic earnings per share of 5.92 cents per share compared to 16.57 cents for
the six months ended 31 December 2011, a decline of 64%
- Gold production for the Village Group on a like for like basis, excluding
Blyvoor, was 2,602kg (83,654oz) compared to 2,817kg (90,567oz) for the six
months ended 31 December 2011. Total gold production including Blyvoor totalled
3,434kg (110,429oz)
- The impact of the industrial action at Blyvoor during October 2012 and safety
related stoppages across all our mines negatively impacted total gold production
volumes by an estimated 360kg over the six month period
- Antimony production was 2,728t compared to 2,285t for the six months ended
31 December 2011, an improvement of 19%
- Receipt of R405 million in cash from First Uranium Corporation (FIU),
consisting of R392 million in settlement of Villages investment in the secured
Mine Waste Solution (Pty) Ltd Rand Notes (MWS Notes) and R14 million as an
interim dividend in relation to its equity investment in FIU
- Payment of 30 cents per share special dividend on 6 August 2012
- Village successfully repurchased 25.3 million of its ordinary shares
amounting to 2.5% of the companys share capital through its wholly owned
subsidiary Buffelsfontein Gold Mines Limited (Buffels) at a total cost of
R30.2 million
EVENTS AFTER REPORTING PERIOD
- Village repurchased a further 26.7 million of its ordinary shares at a cost
of R33.6 million post the December quarter end, resulting in a total of
52 million or 5.2% of the companys issued shares being repurchased through its
wholly owned subsidiary Buffels to date. Village has the authority from its
shareholders to acquire a further 150 million shares as part of the repurchase
programme.
- Two employees lost their lives at our Village operations on 31 January and
11 February 2013. Management and the Board regret this unfortunate loss of lives
and are in the process of implementing action plans and processes that will
result in a culture change within the operations, that should impact positively
on the safety record at all Village operations. In both instances, the
inspectorate issued mine wide section 54 instructions, stopping all mining
activities. It is estimated that the stoppages will result in approximately
100kg of gold being lost due to lower production during the third quarter of the
2013 financial year.
- The section 189 process at Blyvoor was successfully concluded.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2012
*RESTATED
31 DECEMBER 31 JUNE 31 DECEMBER
2012 2012 2011
R000 R000 R000
Assets
Non-current assets
Property, plant and equipment 2,254,085 2,274,359 1,772,857
Investment property 17,312 17,312 21,888
Investment in rehabilitation
trust fund 160,929 160,101 124,558
Intangible assets 83,063 83,063 83,063
Financial assets 13,212 30,310 383,537
Reimbursive asset 109,420 106,338 95,553
Total non-current assets 2,638,021 2,671,483 2,481,456
Current assets
Financial assets 7,489 418,576 6,510
Trade and other receivables 256,966 217,296 107,630
Inventories 62,265 127,712 51,765
Cash and cash equivalents 352,573 294,736 309,600
Total current assets 679,293 1,058,320 475,505
Non-current assets held-for-sale 8,065 8,620 6,230
Total assets 3,325,379 3,738,423 2,963,191
Equity and Liabilities
Equity
Stated capital 636,500 636,500 486,500
Treasury shares (30,185)
Retained earnings 1,181,068 1,122,691 1,291,865
Fair value reserve 3,101 20,187 12,146
Non-distributable reserve 21,689 8,595 2,911
Equity loans 29,252 29,252
Non-controlling interest (51,597) (12,745) 44,309
Total equity 1,789,828 1,804,480 1,837,731
Non-current liabilities
Financial liabilities 231,828 172,734 196,638
Deferred tax liabilities 246,357 246,357 153,037
Provision for environmental
Rehabilitation 416,342 404,511 261,138
Total non-current liabilities 894,527 823,602 610,813
Current liabilities
Financial liabilities 22,441 170,590 228,577
Trade and other payables 615,459 605,689 282,519
Retirement benefit obligations 3,124 3,368 3,551
Shareholders for dividends 302,608
Bank overdraft 28,086
Total current liabilities 641,024 1,110,341 514,647
Total liabilities 1,535,551 1,933,943 1,125,460
Total equity and liabilities 3,325,379 3,738,423 2,963,191
* The deferred tax liability and retained earnings as at 31 December 2011 have
been restated as a result of the restatement of the 30 June 2011 financial
statements as disclosed in the 2012 annual report.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE 6 MONTHS ENDED 31 DECEMBER 2012
SIX MONTHS SIX MONTHS
ENDED ENDED
31 DECEMBER 31 DECEMBER
2012 2011
NOTES R000 R000
Revenue 1,669,940 1,287,808
Cost of sales (1,547,591) (877,044)
Gross profit 122,349 410,764
Other income 15,701 21,624
Operating, administrative and
general expenses (116,066) (127,236)
Operating profit 21,984 305,152
Investment revenue 23,791 29,084
Restructuring costs 13,558
Fair value adjustments (12,390) (133,840)
Business optimisation project (14,000)
Impairment of assets and associate (22,883)
Profit from partial disposal of
investment in associate held-for-sale 51,299
Aberdeen dispute settlement expense (73,129)
Finance cost (13,860) (5,887)
Profit from continuing operations 19,525 149,354
Loss from discontinued operations (55)
Profit before taxation 19,525 149,299
Taxation
Profit for the period 19,525 149,299
Other comprehensive income:
Fair value adjustments to
available-for-sale investments (17,086)
Share of associates foreign currency
translation reserve (FCTR) 32,462
Total comprehensive income for
the period 2,439 181,761
Profit/(loss)attributable to:
Owners of the parent 58,377 149,704
Non-controlling interest (38,852) (405)
Profit for the period 19,525 149,299
Total comprehensive income
attributable to:
Owners of the parent 41,291 182,166
Non-controlling interest (38,852) (405)
Total comprehensive income
for the period 2,439 181,761
Basic earnings/(loss) per share
From continuing operations
(cents per share) 5.92 16.57
From discontinued operations
(cents per share) (0.01)
Diluted earnings/(loss) per share
From continuing operations
(cents per share) 5.77 16.57
From discontinued operations
(cents per share) (0.01)
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS ENDED 31 DECEMBER 2012
Fair
Stated Treasury Retained value
capital Shares earning reserve FCTR
R000 R000 R000 R000 R000
Restated balance as at
1 July 2011 486,500 1,109,699 12,146 32,462
Profit/(loss) for the
Period 149,704
Release of FCTR to the
statement of
comprehensive income 32,462 (32,462)
Share option expensed
during the year
Restated balance as at
31 December 2011 486,500 1,291,865 12,146
Profit/(loss) for
the period 133,434
Other comprehensive income 8,041
Non-controlling interest
acquired in business
combination
Inflow of IDC loan drawdown
Dividend declared (302,608)
Share options expensed
during the year
Share capital issued
during the year 150,000
Balance as at
30 June 2012 636,500 1,122,691 20,187
Profit/(loss) for
the period 58,377
Change in fair value
of assets held-for-sale (17,086)
Dividend declared
Share options expensed
during the year
Share capital issued
during the year (30,185)
Balance as at
31 December 2012 636,500 (30,185) 1,181,068 3,101
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS ENDED 31 DECEMBER 2012 (CONTINUED)
Equity
Attrib-
utable Non-
to control-
Share owners ling
Equity option of the inter-
loans Reserve parent ests Total
R000 R000 R000 R000 R000
Restated balance as at
1 July 2011 1,640,807 44,714 1,685,521
Profit/(loss) for the
period 149,704 (405) 149,299
Release of FCTR to the
statement of
comprehensive income
Share option expensed
during the year 2,911 2,911 2,911
Restated balance as at
31 December 2011 2,911 1,793,422 44,309 1,837,731
Profit/(loss) for
the period 133,434 (229) 133,205
Other comprehensive income 8,041 8,041
Non-controlling interest
acquired in business
combination (81,644) (81,644)
Inflow of IDC loan drawdown 29,252 29,252 24,819 54,071
Dividend declared (302,608) (302,608)
Share options expensed
during the year 5,684 5,684 5,684
Share capital issued
during the year 150,000 150,000
Balance as at
30 June 2012 29,252 8,595 1,817,225 (12,745) 1,804,480
Profit/(loss) for
the period 58,377 (38,852) 19,525
Change in fair value
of assets held-for-sale (17,086) (17,086)
Dividend declared
Share options expensed
during the year 13,094 13,094 13,094
Share capital issued
during the year (30,185) (30,185)
Balance as at
31 December 2012 29,252 21,689 1,841,425 (51,597) 1,789,828
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW
FOR THE 6 MONTHS ENDED 31 DECEMBER 2012
SIX MONTHS SIX MONTHS
ENDED ENDED
31 DECEMBER 31 DECEMBER
2012 2011
R000 R000
Cash generated from operations 183,452 87,103
Finance cost (5,112) (5,887)
Investment income 9,556 29,084
Tax paid
Cash generated from operating activities 187,896 110,300
Cash flow from investing activities
Purchase of property, plant and equipment (102,803) (73,374)
Proceeds on disposal of property, plant
and equipment and investment property 5,010 211,199
Dividend payment to shareholders (302,608)
Repurchase of shares (treasury shares) (30,185)
Dividend received from FIU Investment 14,235
Loans issued to related parties (1,760)
Proceeds from Mine Waste Solution Notes 392,874
Cash flow (used in)/from investing activities (23,477) 136,065
Cash flow from financing activities
Repayment of loans classified as
financial liabilities (78,496) (78,252)
Net cash used in financing activities (78,496) (78,252)
Net increase in cash and cash equivalents 85,923 168,113
Cash and cash equivalents at the
beginning of the period 266,650 141,487
Cash and cash equivalents at the
end of the period 352,573 309,600
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE 6 MONTHS ENDED 31 DECEMBER 2012
1. SIGNIFICANT ACCOUNTING POLICIES
1.1 General information
Village Main Reef Limited (Village) is a South African-based mining and
development company, with its ordinary shares listed for trading on the main
board of the Johannesburg Stock Exchange (JSE) under the share code VIL. The
companys assets comprise Lesego Platinum (a platinum exploration project),
Cons Murch Mine (a gold and antimony mine), Buffelsfontein Gold Mines (a gold
producer which consists of Tau Lekoa Mine, Buffels Gold Mine and the South
Plant) and Blyvoor Gold Mine (which produces gold).
1.2 Basis of preparation
The condensed interim consolidated financial statements are for the six months
ended 31 December 2012 and have been prepared in accordance with the
measurement and recognition requirements of IFRS, IAS 34 Interim Financial
Reporting as well as the AC 500 standards as issued by the Accounting Practices
Board or its successor, the JSE Listings Requirements and the requirements of
the South African Companies Act, 2008, as amended. They do not include all of
the information required in annual financial statements in accordance with
International Financial Reporting Standards, and should be read in conjunction
with the consolidated financial statements of the Group for the year ended
30 June 2012. The condensed interim financial statements have been reviewed by
PricewaterhouseCoopers (PwC) whose unqualified review report is available for
inspection at the Groups registered office.
1.3 Estimates and accounting policies
The accounting policies adopted are consistent with the previous annual
financial statements.
The preparation of interim financial statements requires management to make
judgements, estimates and assumptions that affect the application of accounting
policies and the reported amounts of assets and liabilities, income and
expense. Actual results may differ from these estimates. In preparing these
condensed consolidated interim financial statements, the significant judgements
made by management in applying the Groups accounting policies and the key
sources of estimation uncertainty were the same as those that applied to the
consolidated financial statements for the year ended 30 June 2012.
Certain comparative figures have been reclassified in the statement of
comprehensive income. As the adjustments made are not considered material, no
disclosure of a third statement of financial position for the beginning of the
earliest comparative period has been presented.
2. SHARE BUY-BACK
As at 31 December 2012 Village had cumulatively purchased 25,337,741 of its own
ordinary shares through its wholly owned subsidiary, Buffelsfontein Mines
Limited, in terms of a general authority granted by Village shareholders on
30 November 2012. These share purchases were funded from the companys
available cash resources and comprise 2.5% of the companys issued share
capital since the granting of the general authority.
The Village ordinary shares were purchased for an aggregate price of
R30.2 million in the following tranches:
- 722,178 on 6 December 2012 at 115.18 cents per share;
- 417,054 on 7 December 2012 at 116.15 cents per share;
- 200,000 on 11 December 2012 at 120.28 cents per share;
- 23,748,837 on 27 December 2012 at 119.31 cents per share; and
- 249,672 on 27 December 2012 at 117.86 cents per share.
The Village ordinary shares purchased are shown as treasury shares and are
disclosed on the Condensed consolidated statement of changes in equity.
As at 31 January 2013 a further 26,704,574 or 2.6% of Village ordinary shares
were purchased for an aggregate price of R33.6 million in the following
tranches:
- 204,625 on 4 January 2013 at 122.45 cents per share;
- 235,000 on 8 January 2013 at 122.43 cents per share;
- 30,417 on 9 January 2013 at 123.06 cents per share;
- 563,450 on 10 January 2013 at 122.38 cents per share;
- 658,342 on 11 January 2013 at 122.37 cents per share;
- 200,093 on 14 January 2013 at 121.44 cents per share;
- 480,108 on 15 January 2013 at 119.55 cents per share;
- 3,227,434 on 16 January 2013 at 119.91 cents per share;
- 3,976,382 on 17 January 2013 at 123.91 cents per share;
- 4,216,924 on 18 January 2013 at 124.61 cents per share;
- 332,104 on 21 January 2013 at 125.42 cents per share;
- 618,338 on 22 January 2013 at 126.62 cents per share;
- 2,009,078 on 23 January 2013 at 129.43 cents per share;
- 7,000,000 on 24 January 2013 at 129.42 cents per share; and
- 2,950,279 on 28 January 2013 at 127.82 cents per share.
The purchases were effected through the order book operated by the JSE trading
system without any prior understanding or arrangement between the company and
the counter parties. The total Village ordinary shares purchased of 52,040,315
or 5.2% of the companys share capital are to be held as treasury shares.
The company may purchase a further 149,698,680 ordinary shares in terms of the
general authority granted by Village shareholders and is valid until the
companys next annual general meeting.
3. DIVIDEND RECEIVED
On 30 September 2012, Village received a dividend amounting to R14.2 million
from FIU. Village holds a 5.7% interest in FIU.
4. DIVIDEND PAID
On 6 August 2012 a special dividend of 30 cents per share was paid to
shareholders.
5. RAND REFINERY SHARES
The Rand Refinery Limited (RRL) shares were acquired through business
combinations between Simmer and Jack Mines Limited and DRDGold Limited (DRD)
prior to 2005. These shares are held by Buffelsfontein Gold Mines Limited, one
of the entities acquired by Village in the reverse acquisition of Simmer and
Jack carve-out accounts on 27 June 2011.
During the 2011 financial year, after declaration of dividend by RRL for the
period ended 30 September 2010, DRD instructed RRL not to pay the dividend to
Village, indicating that this dividend was due to DRD. This was contrary to
previous practice where the dividend of R6.1 million relating to shareholders
as at 14 September 2008 had been paid to Village, then Simmer and Jack Mines
Limited. High Court proceedings were instituted in September 2011.
The fair value of the RRL shares was recorded at R30 million and the related
dividend accrued was R6.8 million as at 30 June 2012. On 16 January 2013, a
full and final settlement was reached where DRD paid Village R20 million for
the shares and dividend.
At 31 December 2012 the investment in RRL shares was fair valued at
R13.2 million being the settlement value of the shares, with a write down of
R17.1 million accounted for under other comprehensive income, in accordance
with IAS 39.
6. Mine Waste Solution convertible rand notes
On 1 August 2012 Village received R392.8 million in full and final settlement
of the Mine Waste Solutions Convertible Rand Notes. These proceeds were used to
fund the special dividend of R302 million paid on 6 August 2012. The remaining
balance was used to fund the share repurchases.
7. RELATED PARTIES
SIX MONTHS SIX MONTHS
ENDED ENDED
31 DECEMBER 31 DECEMBER
2012 2011
R000 R000
During the six months ended
31 December 2012 the following
related party transactions were recorded:
Director share options
During the six months ended
31 December 2012, Village granted an
additional 2,500,000 share options
to the directors at a strike price of R1.17.
The spot price as at grant date was R1.25.
An amount of R311,474 was expensed according
to IFRS 2 for the period to
31 December 2012.
Related party transactions
To the point growth specialists (Pty) Ltd 1,487 1,368
Umbono Financial Services (Pty) Ltd 855 1,026
8. MINERAL RESOURCES AND RESERVES
Village reports in terms of the South African code for the Reporting of
Exploration results, Mineral Resources and Ore Reserves (SAMREC).
Village employs a Group ore reserve manager who is responsible for reporting
mineral resources and reserves. He is assisted by an ore reserve manager at
each operation. There have been no material changes in the mineral reserves as
declared in our annual report on 30 June 2012.
9. RECONCILIATION BETWEEN BASIC EARNINGS/(LOSS) AND HEADLINE EARNINGS/(LOSS)
SIX MONTHS SIX MONTHS
ENDED ENDED
31 DECEMBER 31 DECEMBER
2012 2011
R000 R000
Net profit from continuing operations 19,525 149,354
Net loss from discontinuing operations (55)
Profit for the year 19,525 149,299
Less:
Non-controlling interest (38,852) (405)
Attributable to the owners of the parent 58,377 149,704
Impairment of investment in associate 22,883
Impairment in non-current assets held-for-sale (51,299)
Profit on sale of assets (12,597)
Fair value adjustment on Investment property (130)
Headline earnings for the year 58,247 108,691
Basic earnings per share (cents)
from continuing operations 5.92 16.57
Basic (loss) per share (cents)
from discontinuing operations (0.01)
Total basic earnings per share (cents) 5.92 16.56
Diluted earnings per share (cents)
from continuing operations 5.77 16.57
Diluted (loss) per share (cents)
from discontinuing operations (0.01)
Total diluted earnings per share (cents) 5.77 16.56
Headline earnings per share (cents)
from continuing operations 5.90 12.06
Headline (loss) per share (cents)
from discontinuing operations (0.01)
Diluted headline earnings per share (cents)
from continuing operations 5.77 12.06
Diluted headline (loss) per share (cents)
from discontinuing operations (0.01)
Net asset value per share (cents) 177.44 218.54
Note: All earnings/(loss) per share
calculations are based on a weighted
average number of shares.
Net asset value per share is based
on the number of shares in issue.
Reconciliation of number of shares issued '000 '000
Reported at beginning of period 1,008,694 901,575
Shares issued
Shares issued at end of period 1,008,694 901,575
Weighted average number of ordinary shares
in issue
Reported at beginning of period 1,008,694 901,575
Adjusted for:
FSP shares granted (21,405)
Shares repurchased (695)
Weighted average number of ordinary
shares for basic earnings per share 986,594 901,575
Forfeitable share scheme shares issued 21,405
Share options granted 1,101
Weighted average number of ordinary
shares for diluted earnings per share 1,009,100 901,575
Note: Basic earnings per share is
calculated by dividing the profit
attributable to equity holders of
the company by the weighted average
number of ordinary shares in
issue during the year.
10. SEGMENTAL REPORTING
NORTH WEST
LIMPOPO BUFFELS-
LIMPOPO CONS FONTEIN/ GAUTENG CORP-
LESEGO MURCH TAU BLYVOOR ORATE TOTAL
2012 R000 R000 R000 R000 R000 R000
Revenue 180,710 1,114,336 374,894 1,669,940
Cost of
production (2,130) (153,529) (866,692) (525,240) (1,547,591)
Gross profit (2,130) 27,181 247,644 (150,346) 122,349
Other income 173 11,650 3,879 15,702
General
administrative
and overhead
expenditure (13,279) (62,530) (1,119) (2,605) (79,533)
Operating
profit/(loss) (2,130) 14,075 196,764 (147,586) (2,605) 58,518
Finance income 789 757 240 772 21,233 23,791
Restructuring
costs
Net movement
in fair value 5,823 (18,213) (12,390)
Impairment of
assets and
associate
investment
Share of losses
and associate
Gain on bargain
Purchase
FCTR
Foreign
exchange losses (28,610) (28,610)
Finance charges (1,731) (10,948) (1,173) (8) (13,860)
Share based
payment (7,924) (7,924)
Profit/(loss)
from continuing
operations (1,341) 13,101 163,269 (147,987) (7,517) 19,525
Loss from
discontinuing
operations
Profit/(loss)
for the period (1,341) 13,101 163,269 (147,987) (7,517) 19,525
Other
comprehensive
income
Fair value
adjustments to
available for
sale investments (17,086) (17,086)
FCTR
Total
comprehensive
profit/(loss)
for the year (1,341) 13,101 146,183 (147,987) (7,517) 2,439
NORTH WEST
LIMPOPO BUFFELS-
LIMPOPO CONS FONTEIN/ GAUTENG CORP-
LESEGO MURCH TAU BLYVOOR ORATE TOTAL
2011 R000 R000 R000 R000 R000 R000
Profit/(loss)
Revenue 183,253 1,104,555 1,287,808
Cost of
Production (129,184) (747,860) (877,044)
Gross profit/
(loss) 54,069 356,695 410,764
Other income 22 1,522 19,912 168 21,624
General
administrative
and overhead
expenditure (2,723) (22,839) (47,134) (9,300) (81,996)
Operating
profit/(loss) (2,701) 32,752 329,473 (9,132) 350,392
Finance income 342 1,366 27,376 29,084
Restructuring
Costs 13,558 13,558
Net movement
in fair value (107,363) (26,477) (133,840)
Impairment of
assets and
associate (22,883) (22,883)
Foreign
exchange losses (34,728) (34,728)
Finance charges (211) (5,376) (300) (5,887)
Business
optimisation
project (14,000) (14,000)
Aberdeen
settlement
expenses (73,129) (73,129)
Profit from
partial disposal
of investment in
associate
held-for-sale 51,299 51,299
Share based
Payments (10,512) (10,512)
Profit/(loss)
from continuing
operations (2,359) 33,907 85,552 32,254 149,354
Loss from
discontinuing
operations (55) (55)
Profit/(loss)
for the period (2,359) 33,907 85,497 32,254 149,299
Other
comprehensive
income
Fair value
adjustments
to available-
for-sale
investments
FCTR 32,462 32,462
Total
Comprehensive
profit/(loss)
for the year (2,359) 33,907 85,497 64,716 181,761
CORPORATE INFORMATION
DIRECTORS
Bernard Swanepoel (Joint Chief Executive Officer) - Executive
Marius Saaiman (Joint Chief Executive Officer) - Executive
Sandeep Gandhi (Chief Financial Officer) - Executive
Dalubuhle Ncube(Operations Director) - Executive
Richard de Villiers (Director of Human Resources) - Executive
Ferdi Dippenaar - Independent non-executive director
Khetiwe McClain - Independent non-executive director
Roy Pitchford - Independent non-executive director
Gerard Kemp - Independent non-executive director
Phiway Mbuyazi - Non-executive director
Baba Njenje - Non-executive director
COMPANY SECRETARY
Charlene Venter
Isle of Houghton
First Floor, Old Trafford 1
13 Boundary Road
Houghton Estate
Johannesburg, 2146
(P.O. Box 1539, Houghton, 2041)
Tel: +27 11 274 4600
Fax: +27 11 484 7343
REGISTERED OFFICE
Isle of Houghton
First Floor, Old Trafford 1
13 Boundary Road
Houghton Estate
Johannesburg, 2146
(P.O. Box 1539, Houghton, 2041)
Tel: +27 11 274 4600
Fax: +27 11 484 7343
TRANSFER SECRETARIES
Link Market Services South Africa Proprietary Limited
13th Floor, Rennie House,
19 Ameshoff Street
Braamfontein, 2001
(P.O. Box 4844, Johannesburg, 2000)
Tel: +27 11 713 0800
Fax: +27 86 674 4381
SPONSOR
Java Capital
2 Arnold Road,
Rosebank, 2196
(P.O. Box 2087, Parklands, 2121)
Tel: +27 11 283 0089
Fax: +27 86 686 8447
AUDITORS
PricewaterhouseCoopers Inc
Registered Accountants and Auditors
Chartered Accountants (SA)
2 Eglin Road
Sunninghill, 2157
(Private Bag x36, Sunninghill, 2157)
BANKERS
ABSA Bank Limited
15 Alice Lane
Sandton, 2196
LISTING PARTICULARS
Village Main Reef Limited
(formerly known as Village Main Reef Gold Mining Company (1934) Limited)
(Registration number 1934/005703/06)
Share code: VIL
ISIN: ZAE000154761
INVESTOR AND PUBLIC RELATIONS
Cheryl Walton
Tel: +27 11 274 4600
Email: cwalton@villagemainreef.co.za
Russell and Associates
Charmane Russell/Memory Johnstone
Tel: +27 11 880 3924
Email: charmane@rair.co.za/memory@rair.co.za
The financial information was prepared by Jacques le Roux (qualified chartered
accountant) in his capacity as Group financial controller under the supervision
of Sandeep Gandhi (qualified chartered accountant) in his capacity as Chief
Financial Officer.
Date: 21/02/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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