WEZ - Wesizwe Platinum Limited - Circular to share
WEZ
WEZ
WEZ - Wesizwe Platinum Limited - Circular to shareholders
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/020161/06
JSE code: WEZ & ISIN: ZAE000075859
(the "Company" or "Wesizwe")
Circular to shareholders
Shareholders are reminded that there will be a general meeting of the
shareholders of Wesizwe held on 6th July 2007 to consider and if deemed fit
pass the resolutions as set out in the Circular which was posted to
shareholders on 8th June 2007.
This follows the SENS announcement on 25 April 2007 on a binding agreement
to acquire the entire issued share capital of Africa Wide Mineral
Prospecting and Exploration (Pty) Limited for R650 million. The purchase
price is to be settled through the issue of 62 022 901 new Wesizwe shares
at an issue price of R10,48 per share. The issue price was calculated using
the 30 day volume weighted average price of Wesizwe on the JSE up to and
including 18 April 2007.
The purchase of Africa Wide Mineral Prospecting and Exploration (Pty) is a
major black empowerment merger in the South African platinum sector and
will give Wesizwe a 26% interest in the neighbouring Western Bushveld Joint
Venture with Anglo Platinum and Platinum Group Metals. It will increase
Wesizwe`s attributable resource base by 47% to 11.00 million ounces.
The proposed transaction is subject, inter alia, to the approval of Wesizwe
shareholders at a general meeting to the increase of authorised share
capital for the settlement of the purchase price.
Accordingly the purpose of the shareholders meeting is to consider the
requisite special and ordinary resolutions to achieve the:
* The proposed acquisition of Africa Wide Mineral Prospecting and
Exploration (Pty) Limited;
* An increase in the authorised ordinary share capital of Wesizwe; and
* The placement of the authorised but unissued ordinary shares of
Wesizwe under the control of the directors.
The meeting will be held at the Glenhove Conference Centre, 52 Glenhove
Road, Melrose Estate, Johannesburg at 10h00 on Friday, 6 July 2007.
The full circular can be viewed on Wesizwe`s website - www.wesizwe.com
Sponsor
Investec Bank Limited
21 June 2007
Date: 21/06/2007 16:57:01 Produced by the JSE SENS Department.
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