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

Release Date: 21/10/2013 12:53:00      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 various announcements regarding the acquisition by
Chandler Coal, a wholly owned subsidiary of Wescoal, of the business and certain assets of
MacPhail distributors Proprietary Limited (?MacPhail acquisition?) and the acquisition by
Blanford 006 Proprietary Limited, a wholly owned subsidiary of Wescoal, of four properties
from FSW Property Trust (?Properties acquisition?).

The dates for satisfaction of the remaining suspensive conditions pertaining to the MacPhail
acquisition have been extended by agreement between MacPhail and Chandler Coal as
follows:

-     by no later than 18 November 2013 (previously 20 October 2013), approval of the
      MacPhail acquisition by Wescoal shareholders;
-     by no later than 13 November 2013 (previously 30 October 2013), approval of the
      MacPhail acquisition by Competition Commission.

Shareholders will be updated once the MacPhail acquisition becomes unconditional.


Corporate adviser & Sponsor                                     Legal adviser
Exchange Sponsors                                               KWA Attorneys


Johannesburg
21 October 2013

Date: 21/10/2013 12:53:00 Supplied by www.sharenet.co.za                     
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