Wescoal - Termination of Proposed Acquisition of Anker SA
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")
TERMINATION OF PROPOSED ACQUISITION OF ANKER SA
Shareholders are referred to the announcements since 31 May 2006 that
Wescoal has, subject to certain conditions precedent, purchased all the
issued shares in and certain shareholders" claims on loan account against
Anker SA from its shareholders ("the acquisition").
As the outstanding regulatory approvals could not be obtained timeously, the
parties have agreed to terminate the acquisition.
Wescoal remains committed to pursue its stated intention of acquiring coal
mines and reserves.
Shareholders no longer have to exercise caution when dealing in the
9 November 2006
Designated adviser Exchange Sponsors
Auditors Middel & Partners
Attorneys Kim Warren, Rambau &
Advisers in respect of Brink Cohen Le Roux Inc.
Competent Persons" Report SRK Consulting (South Africa)
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
Date: 09/11/2006 02:32:04 PM Supplied by www.sharenet.co.za
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