Renewal of cautionary announcement regarding the offer by Wits Gold for the acquisition of Southgold Exploration Proprietary Limited
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
TSX Code: WGR
CUSIP Number: S98297104
("Wits Gold" or the "Company")
JOHANNESBURG, Feb. 17, 2014 /CNW/ - Further to the cautionary announcements by the Company released on SENS and filed on SEDAR dated Monday, 6 January 2014, Tuesday, 12 November 2013, Tuesday, 1 October 2013, Monday, 19 August 2013, Friday, 5 July 2013, and Friday, 21 June 2013, shareholders are advised that the definitive transaction agreements relating to the offer by Wits Gold to acquire Southgold Exploration Proprietary Limited (the "Offer") are still being negotiated which may have a material effect on the price at which the Company's securities trade. Shareholders are therefore advised to continue to exercise caution when dealing in Wits Gold's securities until a further announcement is made.
Upon the detailed transaction agreements pertaining to the Offer having been finalised, a full terms announcement including the pro forma financial effects of the Offer on the reported financial information of Wits Gold, as well as the salient dates and times relating to the implementation of the Offer, including the effective date, will be announced to shareholders.
Shareholders are further referred to the joint Firm Intention Announcement by Sibanye Gold Limited and Wits Gold, dated 11 December 2013, as well as further announcements by the Company, dated 13 December 2013 and 12 February 2014 respectively, as released on SENS and filed on SEDAR, and are advised that, should the Scheme be approved by shareholders and consequently be implemented, an application will be made to the relevant authorities for the delisting of all Wits Gold shares from the JSE Limited and the Toronto Stock Exchange, the termination of the Wits Gold American Depository Receipt programme, and for Wits Gold to cease being a reporting issuer in Canada.
17 February 2014
Qinisele Resources Proprietary Limited
Lead JSE Sponsor
Macquarie First South Capital Proprietary Limited
PricewaterhouseCoopers Corporate Finance Proprietary Limited
South African Legal Adviser
Brink Falcon Hume Inc
Canadian Legal Adviser
SOURCE Wits GoldFor further information:
Chief Executive Officer
Tel: +27 11 832 1749
Vice President: Corporate Affairs
Tel: +27 11 832 1749