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Announcements and Media Coverage

SENS AND PRESS RELEASES


CONVERSION OR REDEMPTION OF THE SUSPENDED JCI CONVERTIBLE REDEEMABLE 50% SECURED DEBENTURES OF R1,25 (“DEBENTURES”)

 
29 Nov 2005 -

1. Introduction
Shareholders are referred to the terms and conditions of the Debentures, as set out in the JCI Limited (formerly Consolidated African Mines Limited) and JCI Gold Limited merger circular, dated

4 June 2002, which provide for the conversion of the Debentures into fully paid up ordinary shares of 1 (one) cent each in the issued ordinary share capital of JCI, with effect from the conversion date, being 16 January 2006, and in the ratio of one JCI ordinary share for every Debenture held. In the alternative, Debenture holders can elect to redeem all or part of their debentures at a redemption price of R1,25 each by completing the redemption notice and form of surrender.

Debenture holders are informed that those debentures which they did not elect to redeem will be automatically converted into JCI ordinary shares, with effect from the conversion date

RECOMMENDATION TO DEBENTURE HOLDERS BY THE BOARD OF DIRECTORS OF JCI

Debenture holders are referred to the recent Company announcements published on 11 October 2005 and 10 November 2005 respectively, relating to the forensic investigation currently being conducted, and the delay in the publication of the Company’s audited annual financial results for the year-ended 31 March 2005.

In light of the aforementioned, the Board of directors recommend, that debenture holders take all necessary steps, to redeem their debentures and NOT to elect conversion to ordinary shares.


2. Important Dates


Posting of circularWednesday, 30 November 2005
Offer to redeem Debentures closes at close of business onWednesday, 21 December 2005
Last day to trade in DebenturesFriday, 6 January 2006
Debentures suspended from trade at commencement of trade onMonday, 9 January 2006
Record date for conversion or redemptionFriday, 13 January 2006
Debenture holders will have their CSDP or broker accounts updated and/or creditedMonday, 16 January 2006
Certificated Debenture holders will have new ordinary share certificates posted or cheques paid on or aboutMonday, 16 January 2006 
Conversion shares issuedMonday, 16 January 2006
Debentures listing terminatedTuesday, 17 January 2006

Notes:
1.
  
The above dates and times may be subject to amendment. Any such amendment will be released on SENS and published in the press.
2.Certificates may not be dematerialized or rematerialized after Friday, 6 January 2006.

3. Circular to shareholders

A circular setting out the terms of the conversion and / or redemption and the action required by Debenture holders will be posted to Debenture holders on Wednesday, 30 November 2005.

Johannesburg 
29 November 2005

Sponsor Sasfin Capital
(A Division of Sasfin Bank Limited)
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