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Wescoal Holdings Limited - Update On The Vlaklaagte And Elandspruit Transactions

Release Date: 03/09/2012 09:09:00      Code(s): WSL     

(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
JSE Share code: WSL & ISIN: ZAE000069639
("Wescoal" or "the Company")


Shareholders are referred to the announcement released on SENS on 31 July
2012 ("Previous Announcement") relating to the Vlaklaagte Acquisition, the
Vlaklaagte Disposal and the Elandspruit Acquisition (?the Transactions?).

Capitalised terms used and not otherwise herein defined, shall have the
meaning ascribed thereto in the Previous Announcement.

Shareholders are advised that the condition precedent to both Transactions,
namely that ARM Coal in writing waives its right of first refusal in
relation to the sale by Xstrata of the Elandspruit Mining Right to Wescoal
Mining, has been fulfilled. Satisfaction of the remaining conditions
precedent to the Transactions, is in the process of being procured.

In addition, shareholders are advised that a circular         containing    full
details of the Transactions will be
distributed to shareholders on or before 31 October 2012.

Corporate adviser & Sponsor to Wescoal                  Legal Advisers to
Exchange Sponsors                                       KWA Attorneys

Legal Advisers to Xstrata
Baker & McKenzie

3 September 2012

Date: 03/09/2012 09:09:00 Supplied by www.sharenet.co.za                     
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