The Company acquired several special purpose subsidiaries in order to prepare for, ie prepare for implementation and use its earn-in strategy. By the end of this reporting period, the Company held the following subsidiaries, most of which were dormant pending conclusion of appropriate contractual frameworks with strategic partners.
Each of the following wholly owned subsidiaries was acquired as a shelf company . Each subsidiary has one nominal director, the Chief Executive Officer of Epangelo, for the mere purpose of legal compliance. These subsidiaries are held for the purpose of enabling quick turnaround times when implementing the earn-in strategy as described above.
Epangelo Mining Company (Proprietary) Limited, No. 7 Feld Street, Private Bag 13369
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