ENP Newswire -
Release date- 13022014 - Wits Gold Shareholders are referred to the Firm Intention Announcement dated
Details of the scheme of arrangement ('Scheme') in terms of section 114 read with section 115 of the South African Companies Act, 2008 ('the Companies Act') proposed by the board of directors of Wits Gold between Wits Gold and the Wits Gold Shareholders pursuant to which
Details of the cash consideration to be paid by Sibanye to the holders of Wits Gold options in consideration for the cancellation of their Wits Gold options ('Wits Gold Options Settlement');
A report by an independent expert in terms of section 114(3) of the Companies Act and regulations 87(5) and 90 of the South African Companies Regulations, 2011 ('Companies Regulations');
A notice convening a meeting of Wits Gold Shareholders to, inter alia, consider and, if deemed fit, approve the Scheme ('Scheme Meeting');
A form of proxy and
A form of surrender and transfer and letter of transmittal, has been posted to Wits Gold shareholders on Wednesday,
Words and expressions, including capitalised terms, in this announcement shall have the same meaning as assigned to them in the Circular, unless indicated otherwise.
INDEPENDENT EXPERT'S REPORT
The independent board of Wits Gold established for the purpose of assessing the Scheme ('Independent Board') has appointed
The Independent Expert has advised the Independent Board that it is of the opinion that the consideration payable in terms of the Scheme and the Wits Gold Options Settlement is fair and reasonable. The full report of the Independent Expert and the basis for its conclusions are included in the Circular.
NOTICE OF SCHEME MEETING
The Scheme Meeting will be held at 15:00 Central African Time ('
Chief Executive Officer
Tel: +27 11 832 1749
Tel: +27 11 832 1749
Certain statements included in this announcement, as well as oral statements that may be made by Wits Gold, or by its officers, directors or employees acting on its behalf related to the subject matter hereof, constitute or are based on forward-looking statements.
These forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Wits Gold, that could cause actual results and outcomes of Wits Gold to be materially different from historic results or from any future results expressed or implied by such forward-looking statements.
Such risks, uncertainties and other factors include, among others, the parties' (being Wits Gold and Sibanye) ability to complete the Scheme and the anticipated timing related thereto. Wits Gold undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect any change in Wits Gold's expectations with regard thereto.
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