Wescoal - Approval of the acquisition of Anker Coal & Mineral Holdings SA
(Proprietary) Limited by Competition Commission
Wescoal Holdings Ltd
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
(JSE Share code: WSL & ISIN: ZAE000069639)
("Wescoal" or "the company")
APPROVAL OF THE ACQUISITION OF ANKER COAL & MINERAL HOLDINGS SA (PROPRIETARY)
LIMITED BY COMPETITION COMMISSION
Shareholders are referred to the announcement dated 31 May 2006, in terms of
which it was announced that Wescoal has, subject to certain conditions
precedent, agreed to purchase all the issued shares in and certain shareholders"
claims on loan account against Anker Coal & Mineral Holdings South Africa
(Proprietary) Limited ("the acquisition").
The Competition Commission has, on 19 July 2006, unconditionally approved the
The Competent Person"s Report is in the process of being finalised and the
circular to shareholders will be issued in due course.
Thursday, 20 July 2006
Designated adviser Exchange Sponsors
Auditors Middel & Partners
Competent person SRK
Attorneys Kim Warren, Rambau & Associates
Advisers in respect of Competition Brink Cohen le Roux Inc.
Warning: The listing of ordinary shares in the company is on ALTx. Investors
are advised of the risks of investing in a company listed on ALTx. Investors are
advised that the JSE does not guarantee the viability or the success of a
company listed on ALTx. In terms of the Listings Requirements, the company is
obliged to appoint and retain a Designated Adviser, which is required to, inter
alia, attend all board meetings held by the company to ensure that all the
Listings Requirements and applicable regulations are complied with, approve the
Financial Director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a Designated
Adviser, it must make arrangements to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its
securities. If a Designated Adviser is not appointed within 30 days of its
suspension, the company faces the termination of its listing without the
prospect of an appropriate offer to minority shareholders.
Date: 21/07/2006 08:06:53 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department