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WESCOAL HOLDINGS LIMITED - Special dividend finalisation announcement

Release Date: 19/10/2016 08:46:00      Code(s): WSL     
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: WSL
ISIN: ZAE000069639
(?Wescoal? or "the Company")

Special Dividend finalisation announcement

Shareholders are referred to Wescoal?s announcement, released on SENS on 29 September
2016, wherein the directors announced the proposed BEE transaction and declared the
distribution of a special dividend of R10 million for the period to 30 September 2016.

The directors are now in a position to confirm the declaration of a gross special dividend of
4.20993 cents per ordinary share for the period ended 30 September 2016 (2015: Nil). The
special dividend has been declared from income reserves.

In terms of dividend tax, the following additional information is disclosed:

-   the special dividend is subject to dividend tax of 15%; and
-   the net special dividend will therefore be 3.57844 cents per share for shareholders who
    are not exempt from dividend tax.

The amount of shares in issue at the date of this declaration is 237 533 578 (224 759 578
exclusive of treasury shares) and the Company's tax reference number is 9876593147.

In order to comply with the requirements of Strate, the relevant dates are as follows:

 Last date to trade (cum dividend)                        Tuesday, 8 November 2016
 Shares to commence trading (ex special dividend)         Wednesday, 9 November 2016
 Record date                                              Friday, 11 November 2016
 Payment date                                             Monday, 14 November 2016

No share certificates may be dematerialised or rematerialised between Wednesday, 9
November 2016 and Friday, 11 November 2016, both dates inclusive.
Shareholders should note that the special dividend is subject to Exchange Control approval
and an announcement will be released on SENS once this has been obtained.

19 October 2016

Nedbank Corporate and Investment Banking

Date: 19/10/2016 08:46:00 Supplied by www.sharenet.co.za                     
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