Sharenet Sites 
Sharenet Sites
Sale of the Rayton property, cession and transfer of the mining right and cautionary announcement
Brikor Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013247/06)
Share code: BIK ISIN: ZAE000101945
(“Brikor” or “the Company”)
SALE OF THE RAYTON PROPERTY, CESSION AND TRANSFER OF THE MINING
RIGHT AND CAUTIONARY ANNOUNCEMENT
1. INTRODUCTION
Shareholders are advised that Brikor (“the Seller”) has entered into a sale agreement
(“Agreement”) with Corobrik (Pty) Limited (“Corobrik”) (“the Purchaser”) for the sale of the
Rayton property and cession and transfer of the mining right (“the Transaction”).
2. BACKGROUND AND RATIONALE FOR THE TRANSACTION
The Rayton property described as; Portion 31 of Farm Witfontein 510, Registration Division
JR, Province of Gauteng, in extent 21,4149 hectares, Title Deed T134928/2007 (“the Rayton
property”) is located 40km east of Pretoria, 6,5km east of a town called Rayton and 11km
southeast of Cullinan. No mining activities have taken place at the Rayton property since 2006.
The Rayton property has been identified as a non-core asset.
3. TERMS AND CONDITIONS OF THE TRANSACTION
Brikor has entered into an Agreement to sell the Rayton property and to cede and transfer the
mining right GP30/5/1/2/2(237)MRC (“the mining right”) to Corobrik.
3.1. The purchase consideration payable by the Purchaser to the Seller for the Transaction
shall be an amount of R2.2 million exclusive of VAT, to be payable on the date of transfer
of the Rayton property.
3.2 The Transaction is subject to the following conditions precedent :
3.2.1 obtaining written consent as required in terms of Section 11(1) of the Mineral and
Petroleum Resources Development Act No. 28 of 2002, by the minister in respect
of the cession and transfer of the mining right to the Purchaser; and
3.2.2 should the Section 11(1) transfer not be granted with 18 months from the date
upon signing of the Agreement, either party may be entitled in writing to cancel
the Agreement unless the Section 11(1) transfer is imminent, in which case
extension may be applied for by either party for a period of up to 60 days or longer
as agreed upon.
3.3 The seller gave certain warranties that are customary in a transaction of this nature.
4. USE OF PROCEEDS
The Transaction proceeds will be used for general working capital purposes.
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5. FINANCIAL INFORMATION IN RESPECT OF THE TRANSACTION
The value of the net assets subject to the Transaction was R3.5 million as at 28 February
2017. The loss attributable to the net assets that are subject to the Transaction was R1.3
million for the year ended 28 February 2017.
6. CATEGORISATION OF THE TRANSACTION
The Company is currently in discussions with the JSE regarding the categorisation of the
Transaction, given the suspension of its shares. Once the categorisation of the Transaction
has been determined, shareholders will be notified thereof.
7. CAUTIONARY ANNOUNCEMENT
Shareholders are advised to exercise caution in dealing in the Company’s securities on the
JSE until such time as the categorisation of the Transaction is determined.
Exchange Sponsors
24 July 2017
Brikor
Nigel
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