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Conclusion of Tranche One of Transaction and Issue of Shares for Cash
CHROMETCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
Share code: CMO
ISIN Code: ZAE000070249
(“Chrometco” or “the Company”)
CONCLUSION OF TRANCHE ONE OF TRANSACTION AND ISSUE OF SHARES FOR
CASH
Shareholders are referred to the various announcements released
on SENS, the last of which was dated 18 July 2017 wherein the
Company announced that shareholders had approved various
resolutions to recapitalise the Company and the acquisition by
the Company of various assets.
Shareholders are advised that, in light of the approval of
Ordinary Resolution Number 3, the Takeover Regulation Panel
(“TRP”) has, in terms of section 119(6) of the Companies Act,
No. 71 of 2008 (“the Act”), waived the need for GSE to make a
mandatory offer to the remaining Chrometco shareholders under
section 123 of the Act. Shareholders are advised that they may
request the Takeover Special Committee to review the TRP’s above
ruling within 5 business days of this announcement being
released on SENS.
Shareholders are hereby advised that application has been made
to the JSE for the listing of 62.5 million shares in terms of
the specific issue of shares and an additional 835 million
shares in terms of the first tranche of the Black Chrome
Agreement, the details of which are set out in the circular
issued to Chrometco shareholders on 30 May 2017.
Johannesburg
24 July 2017
Designated Advisor and Corporate Advisor: PSG Capital
Proprietary Limited
Date: 24/07/2017 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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information disseminated through SENS.
