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WESCOAL HOLDINGS LIMITED - Funding secured with Investec Bank Limited for the Elandspruit Colliery

Release Date: 31/10/2014 10:31:00      Code(s): WSL     
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
(JSE code: WSL ISIN: ZAE000069639)
(?Wescoal? or ?the company?)

Funding secured with Investec Bank Limited for the Elandspruit Colliery

Wescoal shareholders are advised that the company has concluded a financing facility with
Investec Bank Limited, acting through its Corporate and Institutional Banking division (?Investec?),
whereby Investec has provided Wescoal with a R180 million 5 year term loan and a R20 million 5
year working capital facility, subject to fulfilment of conditions precedent customary for a financing
of this nature.

- R70 million will be used to retire the current Investec term facility;
- R110 million will be used for commissioning of the Elandspruit Colliery, including the acquisition
  of the Mahunga plant, mine operational infrastructure, surface rights and production start-up
  costs; and
- the working capital facility of R20 million is available for general purposes.

31 October 2014

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Date: 31/10/2014 10:31:00 Supplied by www.sharenet.co.za                     
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