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Re: nagoya1 post# 14207

Wednesday, 11/23/2016 6:45:09 AM

Wednesday, November 23, 2016 6:45:09 AM

Post# of 14330
This looks like a DEAD horse. At a Sibanye meeting months ago it was stated GBGLF shareholders would only see zeros...
Hoping for some incredibly slim sliver of ...
Not looking good at all ...
Once they reopen Burnstone if these DEAD shares do not bounce we are looking at zeros ...

Beyond FRUSTRATED,
GPB

PS I am disgusted with how this has presently played out for all GBGLF investors...

"...South Africa: South Gauteng High Court, Johannesburg
http://www.saflii.org/za/cases/ZAGPJHC/2013/33.html

Quote:
CREDIT SUISSE GROUP AG........................................First Intervening Party
STANDARD CHARTERED BANK..............................Second Intervening Party
(Reg. No.: 2003/020177/10)
IN RE:
The Ex Parte application of:

PETRUS FRANCOIS VAN DEN STEEN N.O..............First Applicant
SOUTH GOLD EXPLORATION (PTY) LIMITED
(in business rescue).......................................................Second Applicant


JUDGEMENT

Rautenbach AJ:

1. This application came before me as an Ex Parte application on the unopposed roll of the Motion Court of this division. There are two applications before this Court.

2. The first application is an application by the Credit Suisse AG and Standard Chartered Bank respectively as the First and Second Intervening Parties seeking leave to intervene in the main application brought by the First and Second Applicants.

3. The second application is the application by the First and Second Applicants seeking an order in the following terms:

3.1. Declaring that the Second Applicant has complied with sections 129(3) and 129(4) of the Companies Act, 71 of 2008 and is accordingly in business rescue under the supervision of the First Applicant, pursuant to a resolution filed at the Companies and Intellectual Property Commission on 14 September 2012.

4. At the hearing of the matter my attention was specifically drawn to section 129 of the Companies Act, 71 of 2008 and more specifically to sub-sections (3) and (4) which read as follows: ..."

http://www.polity.org.za/article/business-rescue-of-southgold-gives-mine-a-new-lease-on-life-2014-08-07

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