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Wescoal Holdings Limited - Further Update On Acquisition Of Coal Trading Business From Macphail

Release Date: 16/09/2013 16:56:00      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 ACQUISITION OF COAL TRADING BUSINESS FROM MACPHAIL


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

Shareholders are referred to the SENS announcements dated 21 June 2013, 13 June 2013 and 
13 August 2013 (Previous Announcement) where shareholders were advised that Chandler, a 
wholly owned subsidiary of Wescoal, has acquired a coal trading business from MacPhail 
subject to certain suspensive conditions.

Shareholders are advised that: 
* MacPhails shareholders approved the disposal by special resolution;
* The application to the Competition Authorities has been lodged; and
* Chandler and Blanford have secured the funding for the acquisitions.

The remaining outstanding suspensive conditions are inter alia the following:
o approval of the acquisitions by Wescoal shareholders;
o all the necessary regulatory approvals, including JSE Limited and Competition Commission 
approvals for the acquisition.

Shareholders will be advised as soon as the circular has been posted to shareholders and 
the remaining suspensive conditions to the acquisitions have been fulfilled.


Corporate adviser & Sponsor				Legal adviser 
Exchange Sponsors 					KWA Attorneys


Johannesburg
16 September 2013




Date: 16/09/2013 04:56:00 Supplied by www.sharenet.co.za                     
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