Quote: “...SOUTHGOLD PROPRIETARY LIMITED >Conclusion of a restructuring and support agreement between the business rescue practitioner, the secured lenders and the noteholders
>Transaction structured as a –
>restructure of Southgold’s shares in certain subsidiaries
>transfer of intra-group assets to Southgold
>sale of the shares in Southgold to Wits Gold for R1
>restructure of Southgold’s debt and security to the secured lenders. Debt to be repaid over time
>payment by the secured lenders and Wits Gold of amounts to be made available for payment to noteholders and trade creditors upon closing of the transaction
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