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WESCOAL HOLDINGS LIMITED - Withdrawal of legal action

Release Date: 17/12/2013 17:10:00      Code(s): WSL     
Wescoal Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/006913/06)
(JSE code: WSL ISIN: ZAE000069639)
(?Wescoal? or ?the company?)


Shareholders are referred to the announcements released on SENS on 5 October 2012, 24 June
2013 and the circular issued to shareholders on 15 January 2013 relating to an application served
on Wescoal, Wescoal Exploration Proprietary Limited (?Wescoal Exploration?) , Wescoal Mining
Proprietary Limited (?Wescoal Mining?), Minoscape Proprietary Limited (?Minoscape?),
Proudafrique Trading 147 Proprietary Limited (?Proudafrique?) and three other respondents by
Johannes Cornelius Van Der Westhuizen (?Van Der Westhuizen?), being the minority shareholder
in Proudafrique :

   1)   to set aside the shareholders agreement concluded between Proudafrique and Wescoal
        Exploration on 7 October 2007;
   2)   to set aside the agreement concluded between Wescoal Exploration, Wescoal Mining
        and Proudafrique in terms whereof the Vlaklaagte Prospecting Right was transferred from
        Wescoal Exploration to Wescoal Mining; and
   3)   for the Vlaklaagte, Verblyden and Silverbank Rights to be retransferred to Proudafrique.

The application was opposed by Wescoal, Wescoal Exploration, Wescoal Mining and Minoscape.

Shareholders are advised that Van Der Westhuizen has formally withdrawn the above legal

17 December 2013

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Date: 17/12/2013 05:10:00 Supplied by www.sharenet.co.za                     
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