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Wsl - Wescoal Holdings Limited - Liquidation Application Set Aside With Costs

Release Date: 03/08/2011 08:01:19      Code(s): WSL
WSL - Wescoal Holdings Limited - Liquidation application set aside with costs   
WESCOAL HOLDINGS LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 2005/006913/06)                                            
JSE Share code: WSL   ISIN: ZAE000069639                                        
("Wescoal" or "the Company")                                                    
LIQUIDATION APPLICATION SET ASIDE WITH COSTS                                    
Shareholders are referred to the announcement dated 20 July 2011 where it was   
made known that Wescoal filed a notice of motion in respect of an urgent        
application to set aside the Sutha Civils (Pty) Ltd ("Sutha") application for   
the winding up of a subsidiary of Wescoal, Wescoal Mining (Pty) Ltd ("Wescoal   
Mining").                                                                       
Shareholders are advised that the North Gauteng High Court granted an order in  
favour of Wescoal and Wescoal Mining against Sutha on 2 August 2011. The order  
sets aside Sutha`s application for the winding up of Wescoal Mining, with costs 
on the attorney and own client scale. There was no representative of, or counsel
for, Sutha present at the hearing.                                              
Wescoal will be pursuing a substantial damages claim against Sutha, Nico Swart  
and Wimpie Badenhorst, jointly and severally.                                   
The court order will be placed on Wescoal`s website www.wescoal.com as soon as  
it is available.                                                                
3 August 2011                                                                   
Johannesburg                                                                    
Sponsor                                                                         
Exchange Sponsors                                                               
Date: 03/08/2011 08:01:19 Supplied by www.sharenet.co.za                     
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