WEA - WG Wearne Limited - Results of the Rights Offer

WEA - WG Wearne Limited - Results of the Rights Offer                           
WG WEARNE LIMITED                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/005983/06)                                            
JSE code: WEA                                                                   
ISIN: ZAE000078002                                                              
JSE code for LAs: WEAN                                                          
ISIN for LAs: ZAE000143061                                                      
("Wearne" or "the company")                                                     
RESULTS OF THE RIGHTS OFFER                                                     
Wearne announces the results of the rights offer of up to 77 263 879 new        
ordinary shares in the ratio of 42 new ordinary shares for every 100 ordinary   
shares held on the record date at a subscription price of R0.40 per new ordinary
share. In terms of the rights offer:                                            
- shareholders and their renouncees applied for 6 513 545 new ordinary shares;  
- excess applications for 1 616 457 new ordinary shares were received which were
fully allocated; and                                                            
- 57 500 000 new ordinary shares were taken up by the subscribers in terms of   
the subscription agreement,                                                     
resulting in the issued share capital of the company increasing by 65 630 002   
ordinary shares to 249 591 619 ordinary shares.                                 
The safe custody accounts of dematerialised shareholders have been credited with
the new Wearne shares.                                                          
Sandton                                                                         
1 February 2010                                                                 
Designated Adviser                                                              
Vunani Corporate Finance                                                        
Legal adviser                                                                   
Fluxmans Inc.                                                                   
Date: 01/02/2010 12:33:01 Supplied by www.sharenet.co.za                     
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