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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")
Young Lions Exploring Africa
UPDATE TO SHAREHOLDERS
Shareholders are referred to the SENS announcement dated 1 November 2012 referring to the second
provisional liquidation application against Angel Diamonds (Pty) Ltd (“Angel Diamonds”) (Case Number
CIV/PET/01/2011) (“the Second Liquidation Case”). On 30 August 2012 Messrs Mosebo and Engelbrecht
were ordered provide security for costs for an amount of R250 000 in Case Number CIV/APN/664/2010 (“the
Case”).
An appeal (Case Numbers C OF A 36 & 37/2012) against the dismissal of the second provisional liquidation
of Angel Diamonds was lodged by the applicants on 14 November 2012 in the Second Liquidation Case and
the hearing in the Appeal Court of Lesotho is scheduled for 24 January 2013.
On 26 November 2012, Angel Diamonds brought further theft charges against Messrs Engelbrecht and
Mosebo at the Mafeteng Police Station for the theft of movable plant and equipment of the company. On the
same day, during a meeting at the Mafeteng Police Station, Mr Mosebo brought a labour dispute claim
against Angel Diamonds for unpaid salary payments to him. The dispute is opposed by Angel Diamonds on
the grounds that he has been unable to prove any outstanding salary payments in either of the two
provisional liquidations in the High Court of Lesotho. Furthermore, he was unsuccessful on appeal in the first
provisional liquidation to prove any outstanding salary payments. The dispute will be heard on 16 January
2013.
On 10 December 2012 the hearing of the Case was postponed to 13 March 2013. Having failed to pay the
ordered security of R250 000 for costs, the High Court of Lesotho will, on the same day, hear a dismissal
application by Thabex and others of Messrs Engelbrecht’s and Mosebo’s opposition to the Case.
Shareholders will be advised of future developments.
Johannesburg
15 January 2013
Sponsor
Merchantec Capital
Date: 15/01/2013 05:30:00 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
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