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TBX - Thabex Limited - Update to shareholders Thabex Limited Incorporated in the Republic of South Africa (Registration number 1988/000763/06) Share code: TBX ISIN: ZAE000013686 ("Thabex" or "the Company" or "the Group") Young Lions Exploring Africa UPDATE TO SHAREHOLDERS Angel Diamonds Proprietary Limited ("Angel Diamonds") (in liquidation) Shareholders are referred to the announcement released on SENS on 8 November 2011 and are advised that the hearing of the security for cost application against Mr CJ Engelbrecht, in terms of the main interdict (Case CIV/APN/664/2010 of 30 November 2010) and the interdict of 30 September 2011 which were to take place on 30 November 2011, has been postponed to 5 December 2011 for a ruling by the Honourable Judge presiding over the matter. Thabex and others applied for a postponement to prepare and file replying affidavits to the unorthodox and late filing of some of the respondents` answering affidavits, some of which were filed as late as 29 November 2011. On 30 September 2011, the liquidators appointed in terms of the first liquidation application of Angel Diamonds, dated 8 October 2010, brought another ex parte application without notice for the provisional liquidation of Angel Diamonds, which application was granted. On 27 October 2011, Reskol Diamond Mining Proprietary Limited ("Reskol") brought an intervention application with the second provisional liquidation. Thabex and others have also brought an intervention application against the second provisional liquidation on 25 November 2011. On 28 November 2011 the hearing in the second liquidation application was postponed to 30 March 2012. Mr Mosebo appealed against the discharge of the first liquidation application on 19 May 2011 and the appeal will be heard during the April 2012 session of the Court of Appeal in Lesotho. On 12 August 2011, Thabex wrote an open letter to the Prime Minister of Lesotho, requesting a meeting with the Honourable Prime Minister about, inter alia, the apparent granting of a Mining Licence to Reskol, a subsidiary of the French listed Batla Minerals SA, therefore apparently officialising the disappearance of approximately 1 000 rough diamonds in Lesotho whilst Angel Diamonds was under the exclusive control of, inter alia, Messrs Mosebo and Engelbrecht. Charges were instituted regarding the disappearance of the rough diamond stock with the Lesotho Royal Mounted Police, Diamond Squad Head Quarters in Maseru on 14 June 2011. Unfortunately the Honourable Prime Minister`s office has not been able to confirm a date for the meeting as requested. Interim financial results for the period ended 31 August 2011 The interim review of the Company`s interim financial results has not been signed off by the Company`s auditors, since Thabex`s bankers, First National Bank and ABSA Bank, respectively, failed to timeously provide bank account confirmations to the auditors as requested several times per e-mail and telephonically. The review of the interim results are being finalised and will be released in due course. Johannesburg 1 December 2011 Sponsor Merchantec Capital Date: 01/12/2011 17:11:05 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.
