JOHANNESBURG (miningweekly.com) – The JSE has terminated the listing of the Simmer and Jack Mines (Simmers) gold shell, effective April 16.
In a Stock Exchange News Services announcement on Wednesday, the JSE said the termination was as a result of the company’s failure to inject viable assets that met the criteria for listing.
This followed the suspension of the company from the JSE in December, after it was found to have failed to satisfy the conditions for listing as set out in Section 4 of the JSE listings requirements.
These requirements related to the entry into an agreement and the making of an announcement on the acquisition of viable assets.
Mining Weekly Online reported in December that Simmers had morphed into a cash shell after JSE-listed Village Main Reef had absorbed the lion’s share of its assets in 2011.