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Wescoal Holdings Limited - Posting Of Circular And Notice Of General Meeting, Relating To A Proposed Black Economic Empowerment Transaction

Release Date: 25/10/2016 11:10:00      Code(s): WSL     
Wescoal Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
Share Code: WSL ISIN: ZAE000069639
(?Wescoal? or the ?Company?)


POSTING OF THE CIRCULAR, INCLUDING A NOTICE OF GENERAL MEETING, RELATING TO A
PROPOSED BLACK ECONOMIC EMPOWERMENT TRANSACTION (?TRANSACTION?)

1. Circular and notice of general meeting

    Wescoal shareholders (?Shareholders?) are referred to the announcement dated 29 September
    2016 containing details of the Transaction and are hereby advised that the Company has today
    (25 October 2016) posted a circular pertaining to the Transaction (?Circular?), which document
    incorporates a notice of general meeting of Wescoal shareholders (?General Meeting?) to be
    held at the registered office of Wescoal (?Registered Office?), being 1st Floor, Building 10,
    Woodmead Business Park, 142 Western Service Road, Woodmead, at 10:00 on Wednesday, 23
    November 2016. Copies of the Circular are available on the Company?s website at
    www.wescoal.com and may be obtained at the Company?s Registered Office and the offices of
    the Company?s Sponsor, Nedbank Corporate and Investment Banking, a division of Nedbank
    Limited (3rd Floor, Corporate Place, 135 Rivonia Road, Sandton) from Tuesday, 25 October 2016
    to Wednesday, 23 November 2016.

2. Salient dates and times

    Set out below are the salient dates and times pertaining to the implementation of the
    Transaction:


                                                                                             2016
  Record date to determine which Shareholders are eligible to receive           Friday, 14 October
  the Circular on
  Circular (together with the notice convening the General Meeting)            Tuesday, 25 October
  posted to Shareholders on
  Announcement relating to the issue of the Circular (together with the        Tuesday, 25 October
  notice convening the General Meeting) released on SENS on
  Announcement relating to the issue of the Circular (together with the      Wednesday, 26 October
  notice convening the General Meeting) published in the press on
  Representations to the Takeover Regulation Panel (?TRP?), relating to        Tuesday, 8 November
  the waiver of the obligation to make a mandatory offer (?Mandatory
  Offer?), to be made by Shareholders on or before
  Last day to trade to be entitled to vote and participate in the General     Tuesday, 15 November
  Meeting on
  Record date to be entitled to vote and participate in the General            Friday, 18 November
  Meeting on
  Last day to lodge forms of proxy for the General Meeting (by 10:00)         Tuesday, 22 November
  on
  General Meeting to be held at 10:00 on                                             Wednesday, 23
                                                                                          November
  Results of the General Meeting to be released on SENS on                           Wednesday, 23
                                                                                          November
  Results of the General Meeting published in the press on                   Thursday, 24 November
  Announcement relating to the ruling received from the TRP in respect        Tuesday, 29 November
  of the waiver of the Mandatory Offer on or about
  Shareholders may request the Takeover Special Committee to review            Tuesday, 6 December
  the TRP?s ruling within 5 business days of the abovementioned
  announcement i.e. on or before
  Expected date of fulfilment of the suspensive conditions to the              Tuesday, 6 December
  Transaction on
  Expected date on which the Transaction will be implemented on                 Friday, 9 December


These dates and times are subject to amendment. Any such amendment will be released on SENS.



By order of the Board of Directors of Wescoal


25 October 2016


Investment Bank, Corporate Advisor and Sponsor

Nedbank Corporate and Investment Banking

Legal Advisor

Bowman Gilfillan Inc

Independent Expert

BDO Corporate Finance

Independent Reporting Accountant

Pricewaterhouse Coopers Inc

Date: 25/10/2016 11:10:00 Supplied by www.sharenet.co.za                     
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