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TAW - Tawana - Update on Non-Renounceable Rights Issue

Release Date: 09/12/2009 09:14:02      Code(s): TAW
TAW - Tawana - Update on Non-Renounceable Rights Issue                          
Tawana Resources NL                                                             
(Incorporated in Australia)                                                     
(Registration number ACN 085 166 721)                                           
Share code on the JSE Limited: TAW                                              
ISIN: AU000000TAW7                                                              
Share code on the Australian Stock Exchange Limited: TAW                        
ISIN: AU000000TAW7                                                              
("Tawana" or "the Company")                                                     
Update on Non-renounceable Rights Issue                                         
Shareholders are referred to the SENS announcement dated 8 December 2009,       
wherein Tawana announced their non-renounceable rights Issue.                   
Payment for shares                                                              
South African shareholders should note that although in the dematerialised      
environment, payment usually takes place on delivery, in this instance,         
eligible participants holding dematerialised shares in South Africa will be     
required to make payment for their new shares on or before 12:00 midday on      
the Closing date, being 13 January 2010. Allotment and updating of accounts     
will only take place on 21 January 2010.                                        
No rights trading                                                               
Your entitlement is non-renounceable. This means that your right to subscribe   
for new shares under the offer document to be posted on 29 December 2009, is    
not transferable and there will be no trading of rights on the JSE.             
Entitlements not taken up by eligible participants will be taken up by the      
underwriters of the rights issue (up to a maximum of 224,171,719 new shares),   
subject to the terms of the underwriting agreement.                             
South African Issue Price                                                       
The Issue price in ZAR will be R0,036.                                          
Trading in shares                                                               
South African shareholders may only start to trade in the new shares from       
Thursday, 14 January 2010. The Last Day to Trade in order to be eligible for    
the rights issue is Monday, 14 December 2009.                                   
South African Sponsor                                                           
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 09/12/2009 09:14:02 Supplied by www.sharenet.co.za                     
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