Go Back Email this Link to a friend

WESCOAL HOLDINGS LIMITED - Fulfilment of all the suspensive conditions in relation to, and the implementation of, the BEE transaction

Release Date: 20/12/2016 11:05:00      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?)


Unless defined in this announcement or if the context dictates otherwise, capitalised terms used in this
announcement have the same meanings as given in the circular to Shareholders dated 25 October 2016
detailing the terms of the proposed black economic empowerment transaction.

Shareholders are referred to the announcements published by the Company on SENS dated 29
September, 25 October, 23 November and 28 November 2016 in relation to the Transaction.

Shareholders are hereby advised that (i) all suspensive conditions in relation to the Transaction have
now been fulfilled; and (ii) 124 995 373 new Wescoal Shares have been issued and allotted to the BEE
SPV, and subsequently listed on the JSE. As such, the Company has now achieved direct black
ownership of at least 51% as required by the Coal Supply Agreements entered into by Wescoal with

By order of the Board of Directors of Wescoal

20 December 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: 20/12/2016 11:05:00 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
© 2018 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.