Press Release Source: Southern Platinum Corp.
Southern Platinum Annual and Special Meeting of Shareholders Rescheduled
Monday June 6, 9:45 am ET
Shares Issued and Outstanding 85,517,124 TSX: SPC
TORONTO, June 6 /CNW/ - Southern Platinum Corp. (the "Company") (TSX: SPC - News) announced today that the Company's annual and special meeting ("the Meeting") of shareholders, originally scheduled for June 28, 2005, has been rescheduled for August 9, 2005.
This rescheduling is being done to provide time for the take-over offer for the Company made by Lonmin Investments Canada Inc. ("Lonmin") to be completed. The Board of Directors of the Company recognizes that, if the Lonmin offer is successful, materials sent to shareholders prior to the completion of the offer are unlikely to be relevant to the matters to be addressed at the meeting of shareholders after the completion of the offer. In addition, should Lonmin not obtain 100 per cent of the shares of the Company through the offer, Lonmin may carry out further steps to obtain the remaining outstanding shares, including steps to take the Company private, which would be a matter for which a meeting of shareholders would likely be required.
As required, the Toronto Stock Exchange has approved the rescheduling of the annual and special meeting and the Ontario Superior Court has authorized an extension of time for the meeting beyond the date that is six months from the date of the Company's financial year end of December 31, 2004. The Company's 2004 annual report is being mailed to shareholders today.
Southern Platinum is an independent producer, developer and explorer of platinum group metals. The Company now controls the following platinum assets:
91.5 percent of Johannesburg-listed Messina Platinum;
50 percent of the Dwaalkop Joint Venture;
85 percent of the Millennium Platinum Project in South Africa;
100 percent of the Paradise Platinum Project in South Africa; and
95 percent of the Monts de Cristal Platinum Project in Gabon.
The common shares are traded on the Toronto Stock Exchange (TSX: SPC - News).
NOTE: Certain statements contained herein are "forward-looking" and are based on the opinions and estimates of management, or on the opinions and estimates provided to and accepted by management. These opinions and estimates include those that relate to all the geological, development, mining and commodity price and market parameters used by management. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ, possibly significantly. Readers are therefore cautioned not to place undue reliance on any forward-looking statement.
For further information
Chris Reynolds, Secretary, (416) 359-7800
Source: Southern Platinum Corp. |
