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GOLD REEF – EARNINGS TO DIP BEFORE MERGER

Gold Reef Resorts, which is acquiring Tsogo Sun in a reverse takeover, expected to announce a yearon-year decline of between 20 percent and 25 percent in earnings a share and headline earnings a share for the six months to June, it said yesterday Steven Joffe, the chief executive of Gold Reef, said there was little opportunity to expand in South Africa and Tsogo Sun’s portfolio included assets outside South Africa.

Source: Business Reprt – Audrey D’Angelo