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Tawana Resources NL - Issue of bonus share options to shareholders of Tawana Tawana Resources NL (Incorporated in Australia) (Registration number ACN 085 166 721) Share code on the JSE Limited: TAW ISIN: AU000000TAW7 Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7 ("Tawana" or "the Company") ISSUE OF BONUS SHARE OPTIONS TO SHAREHOLDERS OF TAWANA On 15 November 2005, Tawana published details of the forthcoming issue of bonus share options ("share options") to take place to all Australian, South African and other shareholders. Since publication of the aforesaid announcement, Tawana has received advice that it is a requirement under the Listing Rules of the Australian Stock Exchange ("ASX") on which exchange the securities of Tawana are primary listed, that the exercise price of the share options on both the ASX and the JSE Limited ("JSE") must be identical. The set share option exercise price is Australian $1.00. Accordingly, save for the exercise price of the share options now being referenced at Australian $1.00 in place of R5, 00 for South African shareholders, all terms of the share options as previously announced remain unchanged. For avoidance of doubt, the details of and important dates and times pertinent to the issue of the share options, are as follows: Details: Issue ratio: 1 share option for every 3 shares held at the close of trading on the ASX and JSE, respectively, on Thursday, 15 December 2005 ("the Record Date"). (1) Exercise date: Exercise of share options may take place at any time on or prior to 30 April 2008. (2)
Exercise price: Australian $1.00. (3) Notes: 1. Eligible shareholders will receive share options based on a shareholder"s holding of shares at the Record Date, divided by a factor of three rounded down to the nearest whole number. No fractional entitlements to share options will accrue or be allocated. 2. Share options may be exercised at any time on or prior to 30 April 2008. A share option holder must notify his/her broker or Central Securities Depository Participant ("CSDP"), in accordance with the terms of the engagement mandate concluded between such share option holder and the broker or CSDP, of an intention to exercise. 3. Exercise and settlement by South African holders of share options must take place in Australian dollars or in Rand based on the applicable exchange rate (Bank selling rate for AUS$ - Cheques and Telegraphic Transfers) quoted by Standard Bank on the date of exercise. Important dates and times: 2005 Last day to trade in Tawana shares on the JSE in Thursday, 8 December order to be entitled to participate in the share option issue Tawana shares on the JSE trade ex-entitlement to Friday, 9 December participate in the share option issue Share options listed on the JSE and commence trading Friday, 9 December on the JSE under the ISIN Code AU00000TAW03 from the commencement of trade Record date for determination of shareholders of Thursday, 15 December Tawana entitled to participate in the share option issue, at close of trading on the JSE Allocation and issue of share options implemented Monday, 19 December Eligible Tawana shareholders expected to have their Monday, 19 December safe custody accounts held at their CSDP or broker credited with their share option entitlement Notes: * All or any of the above dates are subject to change. Any such change will be released on the Securities Exchange News Service of the JSE and published in the press. * Shareholders are advised that trading in shares and share options in Tawana is settled within the STRATE environment five business days following a trade. * No dematerialisation or rematerialisation of Tawana share certificates may take place between Friday, 9 December 2005 and Thursday, 15 December 2005, both days inclusive. Representative Office: Kimberley 28 November 2005 Corporate adviser and sponsor PricewaterhouseCoopers Corporate Finance Attorneys Adian B Horwitz & Associates Date: 28/11/2005 11:09:05 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
