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Wescoal Holdings Limited - Further Update On The Vlaklaagte And Elandspruit Transactions And Results Of The General Meeting

Release Date: 14/02/2013 13:18:00      Code(s): WSL     
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")


FURTHER UPDATE ON THE VLAKLAAGTE AND ELANDSPRUIT TRANSACTIONS AND RESULTS
OF THE GENERAL MEETING



Shareholders are referred to the announcements released on SENS on 31 July
2012, 3 September 2012, 5 October 2012, 8 November 2012 and 21 December
2012("Previous Announcements") and the circular dated 15 January 2013
("Circular") 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
meanings ascribed thereto in the Previous Announcements.

Shareholders are advised that:

1)   at the general meeting of the Company held today, all the special and
     ordinary resolutions set out in the notice of general meeting
     contained in the Circular were adopted with the requisite majority of
     votes of shareholders present and represented by proxy.

     The associated Conditions Precedent to the Vlaklaagte Disposal and
     Elandspruit Acquisition have accordingly been timeously fulfilled.

2)   A notarial deed of cession between Duiker and Xstrata to give effect
     to the transfer from Duiker to Xstrata of the Elandspruit Mining
     Right has been concluded and registered at the Mineral and Petroleum
     Titles Registration Office.

     The associated Condition Precedent to the Elandspruit Acquisition has
     accordingly been timeously fulfilled.


Shareholders will be advised as soon as the remaining conditions precedent
to the Transactions have been met.

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

Legal Advisers to Xstrata
Baker & McKenzie

Johannesburg
14 February 2013

Date: 14/02/2013 01:18:00 Supplied by www.sharenet.co.za                     
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