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Wescoal Holdings Limited - Funding Secured For The Macphail Acquisition And The Properties Acquisition

Release Date: 30/10/2013 11:31:00      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")


Funding secured for the Macphail acquisition and Properties acquisition


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

Shareholders are referred to the various announcements regarding the MacPhail acquisition
and the Properties acquisition (?the acquisitions?). Shareholders are advised that Wescoal
and its subsidiary Blanford, have secured funding for an amount of R79 million from Investec
Bank for the acquisitions. Wescoal?s subsidiaries, Chandler Coal and Wescoal Mining, have
secured an amount of R100 million from Reichmans Proprietary Limited to fund the working
capital requirements of the acquisitions.


Corporate adviser & Sponsor                                     Legal adviser
Exchange Sponsors                                               KWA Attorneys


Johannesburg
30 October 2013

Date: 30/10/2013 11:31:00 Supplied by www.sharenet.co.za                     
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