WILLIAM TELL HOLDINGS LIMITED - Voluntary Announcement

Voluntary  Announcement

William Tell Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2004/030045/06)
Share code: WTL ISIN: ZAE000098133
(“William Tell” or “the Company”)



VOLUNTARY ANNOUNCEMENT



Further to the voluntary announcement – and using the terms defined therein unless otherwise stated –
released on SENS on 5 October 2012 wherein shareholders were informed, inter alia, that:
 - the Company’s main trading company and wholly-owned subsidiary, William Tell Industries had ceased
     operations;
 - William Tell and the remaining subsidiaries, namely ELB Ultraboard and Tellprop, were at such time
     unaffected by the situation within William Tell Industries; and
 - it had been resolved that the Company apply for the liquidation of William Tell Industries,
 shareholders are hereby advised that an order for the provisional winding up of William Tell Industries was
 granted on Tuesday, 16 October 2012.

Furthermore, due to Tellprop’s inability to meet its on-going commitments in terms of its mortgage bond
facilities, William Tell group’s bankers have called up their loan to Tellprop in the sum of approximately R9.3
million.

Shareholders are further advised that in terms of William Tell group’s banking facilities, the eventual net
proceeds from a possible future sale of the assets of Tellprop may be affected due to Tellprop’s cross
guarantees for William Tell Industries’ commitments to its bankers in the sum of approximately R22 million.
In terms of such cross guarantees, Tellprop may be called on to make good any deficiency between the net
proceeds of assets over which Tellprop’s bankers hold security and the amount due to them by William Tell
Industries.

Shareholders will be updated on further developments.

Johannesburg
18 October 2012

Designated Adviser
Merchantec Capital

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