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LABAT AFRICA LIMITED - Execution of a Letter of Intent and Renewal of Cautionary Announcement

Release Date: 20/05/2013 07:05
Code(s): LAB     PDF:  
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Execution of a Letter of Intent and Renewal of Cautionary Announcement

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa)
(Registration number: 1986/001616/06)
Share Code: LAB ISIN: ZAE000018354
("Labat" or “the company”)


EXECUTION OF A LETTER OF INTENT IN RESPECT OF THE PROPOSED
ACQUISITION OF 5 OFF-SHORE PETROLEUM EXPLORATION BLOCKS IN
NAMIBIA AND RENEWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the cautionary announcement dated 4 April 2013 and are advised that
Labat has signed a joint letter of intent with Amicitia Holdings Limited (“Amicitia”) for the
purchase by Labat from Amicitia of all of the issued shares in Palantina Petroleum Limited (“the
Proposed Acquisition”). The Proposed Acquisition, which will be subject to Palatina’s execution of
various Petroleum Agreements, will result in Labat acquiring a majority participating interest in 5
(five) Petroleum Exploration Blocks, Off-shore Namibia.

The letter of intent provides that the Company and Amicitia will work diligently and in good faith
to execute a definitive agreement between them.

Accordingly, shareholders are advised to continue to exercise caution in dealing in their securities,
until a further announcement is made.

Johannesburg
17 May 2013


Sponsor
Arcay Moela Sponsors (Pty) Ltd

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