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 dated 28 November 2012 wherein shareholders were advised that
the Company’s main trading company and wholly-owned subsidiary, William Tell Industries Proprietary
Limited (“William Tell Industries”) was placed under final liquidation on 27 November 2012, shareholders are
further advised that following the second meeting of creditors and contributories held before the Master of
the High Court, Johannesburg, on Thursday, 28 February 2013, inter alia, the following resolutions to the
report of the Joint Liquidators of William Tell Industries were submitted in terms of the provisions of section
402 of the Companies Act, 1973 (Act 61 of 1973), as amended (“the Companies Act”) and subsequently in
terms of such resolutions, it was resolved, inter alia, that:

1.   The report of the Joint Liquidators in terms of section 402 of the Companies Act be approved, ratified
     and confirmed and that the actions of the Joint Provisional Liquidators and Liquidators to date be
     approved, ratified and confirmed.

2.   The liquidators be granted the authority and shall be vested with all the powers contemplated in any of
     the Close Corporations Act, 1984, (Act 69 of 1984), Companies Act and Insolvency Act, 1936 (Act 24 of
     1936), as amended, (“the Insolvency Act”), whether or not any special authorisation would otherwise be
     required.

3.   The liquidators may in their sole discretion sell or in any other way dispose of any immovable or
     moveable assets of the estate, whether as going concerns, or otherwise, in such a manner and on such
     terms and conditions as they may deem fit.

4.   The liquidators are authorised, inter alia, to hold enquiries and examinations and conduct investigations.

5.   The Joint Liquidators be and are authorised to dispose of the immovable property of the estate by public
     auction, private treaty or tender and that any costs incurred by the Liquidators in relation thereto shall be
     treated as administration costs payable by the estate.

Further to the aforementioned, the Joint Liquidators have in consultation with various interested parties,
including but not limited to William Tell Industries’ major creditors, decided to dispose of the assets of William
Tell Industries by public auction.

The auction sale is scheduled to take place on site at 31 Van Eck Street, Chamdor, Krugersdorp on
Tuesday, 19 March 2013. Shareholders will be updated on further developments.


Johannesburg
5 March 2013

Designated Adviser
Merchantec Capital

Date: 05/03/2013 08:45:00 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
 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.