Cape Town, South Africa — MININGREVIEW.COM — 24 January 2012 – Trans Hex “’ a world-class player in the exploration, mining and marketing of diamonds “’ says it is still finalising certain aspects of its proposed takeover of De Beers’ Namaqualand Mines, warning shareholders to continue exercising caution when dealing in the company’s shares.
Trans Hex initially announced the deal in May 2011, and has since received approval from the Competition Commission and the boards of the respective companies.
In terms of the agreement, Trans Hex will buy Namaqualand for R225 million through an associate company, EPI, in which it has a 50% stake. The other partners in EPI are RE:CM and Calibre (34%) and Dinoka Investment Holdings (11%). The remaining 5% is to be allocated to broad-based, historically disadvantaged groups of persons, a company statement said.