| 1. |
INTRODUCTION |
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Shareholders of Metorex are advised that Metorex is currently in negotiations regarding the disposal of 15% of the issued ordinary share capital of Vergenoeg Mining Company (Proprietary) Limited ("Vergenoeg") to a Black Economic Empowerment ("BEE") party ("the Purchasers") for a cash consideration of approximately R 108 750 000 ("the Transaction").
Metorex would like to introduce BEE into Vergenoeg in line with the requirements stipulated in the Mineral and Petroleum Resources Development Act (No 28 of 2002) and maximise value through an efficient and orderly BEE process.
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| 2. |
CATEGORISATION |
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In terms of the Listings Requirements of the JSE, the Transaction is not a categorised transaction.
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| 3. |
FURTHER CAUTIONARY ANNOUNCEMENT |
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Shareholders are advised to continue to exercise caution when dealing in their Metorex securities until a further announcement, setting out full details of the Transaction, is made
Rosebank
13 July 2009
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