PRESS STATEMENT
21 September 2009
Vulisango clarifies the reasons for the mass resignation of its directors from the Simmers & Jack Board
At todays Simmer & Jack Annual General Meeting the Chairman of the meeting, Mr.

Nigel Brunette, made numerous false allegations and insinuations as to why there was an exodus of non-executive directors following Saturdays acrimonious board meeting.
According to Brunette, among his wild unsubstantiated allegations is that their resignations should be interpreted as some form of implied admission of guilt.
This could not be further from the truth and is evident of the oppression that some directors have been constantly subjected to, whilst on the board of Simmer & Jack. Vulisango would therefore like to clarify their material reasons for their mass resignation issued on Saturday.
Vulisango has since their inception as BEE partner of Simmer & Jack, been treated as an oppressed minority shareholder and on Saturday resigned to avoid being complicit in what they deem to be a blatant disregard of corporate governance.
Examples include a failure to obtain the required board authority to issue 109 million shares for cash, acting in direct contravention of clear DME directives on the management control and board structures of Simmers, and non-disclosure of empowerment dilution.
The share prices under performance is evidence of managements inability to unlock shareholder value.

The board has further diluted the empowerment shareholding of Ezulwini mining rights thereby risking the validity of this mining right.

Management of Simmer have further obstructed numerous 3rd party proposals to unlock shareholder value, suggested by theirs as well as Vulisangos advisors.
Valence Watson, CEO of Vulisango commented: "Vulisango nominated directors have always acted in good faith and within their fiduciary responsibilities.

They resigned to enable the issues of a lack of governance and shareholder value destruction to be brought into the public domain.

We are unwilling to undermine the spirit or the letter of the Mining Charter".
ENDS
ISSUED BY: FD Media and Investor Relations Louise Brugman (011) 214 2415/ 083 504 1186/
ON BEHALF OF: Vulisango Holdings (Pty) Limited Valence Watson, CEO 011 380 0580
Senzi Dlamini Account Executive FD Beachhead FD 1st Floor, Lumley House, Rosebank Office Park 177 Jan Smuts Avenue, Parktown North Johannesburg, 2193 T +27 11 214 2420 F +27 11 214 2405 M +27 73 494 0030 www.fd.com A member of FTI Consulting, Inc.
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