Wits Gold - Further Cautionary Announcement
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
ISIN: ZAE000079703
TSX Code: WGR
CUSIP Number: S98297104
('Wits Gold')
JOHANNESBURG, April 30, 2012 /CNW/ - Shareholders of Wits Gold are referred to the announcements released on the Securities Exchange News Service on Monday, 30 January 2012 and Monday,12 March 2012, respectively, and using the terms defined in the Transaction announcement unless otherwise stated, relating to the Acquisition Agreement entered into by the Consortium with Harmony, to acquire 100% of Harmony's interest in Evander, for a total consideration of ZAR1.7 billion (approximately C$221 million) less any distributions made by Evander to Harmony from profits generated from 1 April 2012 to the Closing Date, hereinafter referred to as the 'Transaction', are advised that the pro forma financial effects of the Transaction are still being determined and may have a material effect on the price of Wits Gold shares. Accordingly, shareholders are advised to continue to exercise caution when dealing in Wits Gold securities until a further announcement is made.
A further announcement will be released on the Securities Exchange News Service, filed on SEDAR, and published in the South African press as soon as the pro forma financial effects have been finalised.
JSE Sponsor to Wits Gold Limited
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Transaction adviser and JSE Transaction Sponsor
Macquarie First South Capital (Pty) Limited
Wits Gold
CONTACT: Philip Kotze
CEO: Wits Gold
+27 11 832 1749
Hethen Hira
Executive, Investor Relations: Wits Gold
+27 11 832 1749
Russell and Associates: Charmane Russell
+27 11 880 3924