10 Jun

MEMORANDUM

TO:                 ALL MEMBERS OF UASA-THE UNION KOORNFONTEIN MINES and OPTIMUM MINE

FROM:            ADVOCATE NICK VAN ROOYEN

DIVISIONAL MANAGER: LEGAL AND SPECIALIST SERVICES

DATE:             October 11, 2019

SUBJECT:     BUSINESS RESCUE PROCESS:

  1. KOORNFONTEIN MINE.  
  2. OPTIMUM MINE
  1. Koornfontein Mines (Pty) Limited (In Business Rescue)

The Business Rescue Practitioners (“BRP”) of Koornfontein Mines have announced that a meeting will be held in terms of section 151 of the Companies Act next Friday October 2019 for all creditors.

The BR Plan circulated to all creditors contains the names of the three (3) successful bidders for Koornfontein Mine namely:

  1. Lurco
  2. Orchid Mining Consortium; and
  3. B R M Consortium.

At this stage in preparation for the Creditor’s Meeting on Friday October 18, 2019, UASA-The Union’s B R expert, Mr. Gordon Nokhanda has requested certain crucial documentation and information from the B R Practitioners in order that the offers made by the said three (3) bidders are able to be carefully scrutinised prior to the meeting. Questions may then be put to the B R Practitioners in representing the interests of the members of UASA-The Union either before or during the meeting.

The purpose of the meeting is to consider the Business Plan and the details pertaining to the B R Plan and where necessary vote in favour of one of the three bidders or not. It must as always be emphasised that UASA-The Union will always act in all the interests of its Members.

The proxy form that requires completion of all members of UASA-The Union at Koornfontein Mines is attached. The proxy form must be completed in order that Messrs. Nokhanda and Janek Wilimiec are placed in a position to represent our members at Kroonfontein Mines and to where necessary vote accordingly at the meeting.

All members of UASA-The Union at Kroonfontein Mines are requested to complete this form and forward it to Melanie May at our Witbank/ eMalahleni Service Centre by E-mail: m.may@uasa.org.za Telefax: (013) 690 3070. Ms. May will also ensure that the forms are sent to the dedicated representatives of UASA-The Union on Whatsapp.

It is vital to note that the forms must be completed in full. There is no necessity to nominate which bidder you suggest should be voted for. In the interim UASA-The Union via Mr. Nokhanda will await the information from the B R Practitioners and keep members informed accordingly.

Members must please submit the forms and be submitted no later than Wednesday October 16, 2019 at 16h00.

  1. Optimum Mine (Pty) Limited (In Business Rescue)

It must be noted that the afore-mentioned process in no way has any effect on the Business Rescue Process at Optimum Mine. The B R Practitioners are still vetting and perusing the content of the bids made in respect of Optimum Mine. Members of UASA-The Union will accordingly be kept informed in regard to any developments in regard to the Optimum Business Rescue.

Yours faithfully

ADVOCATE NICK VAN ROOYEN

DIVISIONAL MANAGER: LEGAL & SPECIALIST SERVICES

Click here for PROXY FORM (2 Pages)

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