Go Back Email this Link to a friend


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?)



WITHDRAWAL OF LEGAL ACTION


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Shareholders are advised that Van Der Westhuizen has formally withdrawn the above legal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


Johannesburg
17 December 2013

Sponsors
Exchange Sponsors

Date: 17/12/2013 05:10:00 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             . The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.


                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.