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WEZ - Wesizwe Platinum Limited - Total financing solution for the development of the Frischgewaagd-Ledig project becomes effective Wesizwe Platinum Limited (Incorporated in the Republic of South Africa) (Registration number: 2003/020161/06) JSE code: WEZ ISIN: ZAE000075859 (the "Company" or "Wesizwe") TOTAL FINANCING SOLUTION FOR THE DEVELOPMENT OF THE FRISCHGEWAAGD-LEDIG PROJECT BECOMES EFFECTIVE Shareholders are referred to the circular dated 11 February 2011, detailing the total financing solution for the development of the Company`s core Frischgewaagd-Ledig Project ("the Project") including, inter alia, the specific issue of shares for cash ("the Proposed Transaction") and the announcement released on 29 April 2011 confirming that all conditions precedent to the definitive transaction agreements giving effect to the Proposed Transaction signed between Jinchuan Group Limited ("Jinchaun"), China-Africa Development Fund ("CADFund"), Micawber 809 (Pty) Limited ("Micawber") and China-Africa Jinchuan Investment Limited, have been fulfilled or waived. The transaction has been implemented in accordance with the terms and conditions of the transaction agreements and became effective on 4 May 2011. In terms of the transaction agreements the Board of Directors of Wesizwe ("the Board") welcomes the appointment of the following members to the Board of Wesizwe effective from 4 May 2011: - Mr Qiyin Zhang - Mr Jikang Li - Mr Dexin Chen - Mr Jianke Gao - Mr Wenliang Ma - Mr LiliangTeng - Mr James Ngculu Shareholders are further advised that Mr Peter Gaylard and Mr Jacques de Wet have resigned as directors of the Company with immediate effect and that Mr Rob Rainey will not stand for re-election as a director of Wesizwe at the Annual General Meeting of the Company to be held on 5 May 2011 at 10:00. The Board of Directors would like to thank Mr Peter Gaylard, Mr Rob Rainey and Mr Jacques de Wet for the contribution they have made to the Company during their tenure on the Board. Following a meeting of the newly re-constituted Board that was held on 4 May 2011, shareholders are advised that Mr Arthur Mashiatshidi resigned as Chief Executive Officer and has been appointed as Joint Acting Chief Executive Officer. In addition, Mr Qiyin Zhang has been appointed as Joint Acting Chief Executive Officer and Mr Wenliang Ma has been appointed as Acting Financial Director. The Board has designated Mr Jianke Gao for the position of Chief Executive Officer which position he will assume after he has obtained the necessary work permits. The Board now comprises: Ms Dawn Mokhobo (Chairman) Mr Dexin Chen (Deputy Chairman) Mr Arthur Mashiatshidi (Joint Acting Chief Executive Officer) Mr Qiyin Zhang (Joint Acting Chief Executive Officer) Mr Wenliang Ma (Acting Executive Financial Director) Mr Mike Eksteen (Independent Non-Executive Director) Mr Jianke Gao (Executive Director) Mr Jikang Li (Non-Executive Director) Mr Mlibo Mgudlwa (Executive Director) Mr James Ngculu (Non-Executive Director) Mr Michael Solomon (Non-Executive Director) Mr Liliang Teng (Non-Executive Director) Mr Barrie van der Merwe (Non-Executive Director) Melrose, Johannesburg 05 May 2011 Sponsor to Wesizwe: Investec Bank Limited Date: 05/05/2011 08:32:01 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.
