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PZG - Pamodzi Gold - Update On Status Of Pamodzi Gold

Release Date: 18/09/2009 12:14
Code(s): PZG
Wrap Text

PZG - Pamodzi Gold - Update On Status Of Pamodzi Gold Pamodzi Gold Limited (Incorporated in the Republic of South Africa) (Registration number 2002/013039/06) Share code: PZG ISIN: ZAE000088563 ("Pamodzi Gold" or "the Company") UPDATE ON STATUS OF PAMODZI GOLD Further to the announcement released on SENS on 17 September 2009, and as indicated therein, the court has sanctioned the sale of Pamodzi Gold Free State assets to Harmony Gold Mining Company Limited on 15 September 2009. Furthermore a liquidation application lodged by the Industrial Development Corporation ("IDC") against Pamodzi Gold has been served on the Company, which application has been set down to be heard on 2 November 2009. Without the Free State assets, the inclusion of which was a condition for the CADF funding, the CADF funding is no longer a viable option. As a result of the above, the Board of Directors of Pamodzi Gold have resolved not to oppose the liquidation application lodged against the Company by the IDC, as there is no reasonable prospect of the claim being satisfied. Bruma 18 September 2009 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 18/09/2009 12:14:01 Supplied by 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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