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WILLIAM TELL HOLDINGS LIMITED - Renewal of cautionary announcement

Release Date: 20/08/2013 16:17
Code(s): WTL     PDF:  
Wrap Text
Renewal of cautionary 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”)


RENEWAL OF CAUTIONARY ANNOUNCEMENT


Further to the cautionary announcement dated 31 August 2012 and the subsequent renewal of cautionary
announcements, the last of which was dated 8 July 2013, the announcement regarding the voluntary
suspension of listing dated 27 September 2012 and the voluntary announcements regarding the liquidation
of William Tell Industries Proprietary Limited (“William Tell Industries”) dated 5 October 2012 and
28 November 2012, shareholders are advised that the full impact of the liquidation of William Tell Industries
is still being determined, which may have a material effect on the price of William Tell’s securities.

Furthermore, shareholders are advised that:
1. the fixed assets of William Tell Industries (in Liquidation) were disposed of for an amount of R34 million
     by the liquidators by way of public auction on 23 May 2013;
2. the fixed assets of Tellprop Proprietary Limited (“Tellprop”) were disposed of for an amount of
     R30 million by way of public auction on 23 May 2013 and lodgement for registration of transfer was
     effected on 13 August 2013; and
3. the fixed assets of ELB Ultrabord Proprietary Limited were disposed of for an amount of R300 000 by
     way of a private treaty on 7 June 2013.

In terms of cross guarantees in favour of Nedbank, a substantial portion of the net proceeds of the Tellprop
assets will revert to Nedbank to settle the shortfall on the realisation of William Tell Industries’ encumbered
assets. Therefore, until such time as Nedbank is settled in full, it remains uncertain as to the quantum of any
residual funds that may flow to the Company post settlement of the Company’s creditors.

Accordingly, shareholders are advised to continue exercising caution when dealing in the Company’s
securities, until a further announcement is made.

Johannesburg
20 August 2013

Designated Adviser
Merchantec Capital

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