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Wescoal - Approval Of The Acquisition Of Anker Coal & Mineral Holdings Sa

Release Date: 21/07/2006 08:06:50      Code(s): WSL
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   
acquisition.                                                                    
The Competent Person"s Report is in the process of being finalised and the      
circular to shareholders will be issued in due course.                          
Johannesburg                                                                    
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.                   
Commission application                                                          
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                                             
                                                                                
                                                                                
                                                                                



                                        
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