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WEZ
WEZ
WEZ - Wesizwe - Acquisition of a 26% participation in the Western Bushveld Joint
Venture - Revised Terms
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/020161/06)
JSE code: WEZ & ISIN: ZAE000075859
(the "Company" or "Wesizwe")
ACQUISITION OF A 26% PARTICIPATION IN THE WESTERN BUSHVELD JOINT VENTURE -
REVISED TERMS
On 25th April 2007, Wesizwe announced that it was to acquire the entire issued
share capital of Africa Wide Mineral Prospecting and Exploration (Proprietary)
Limited ("Africa Wide") for R650 million ("the Proposed Transaction"). The
purchase price was to be settled through the issue of 62,022,901 new Wesizwe
ordinary shares at an issue price of R10.48 per share.
As a result of the upgrading of resources and the subsequent recalculation of
the equalisation obligation of Africa Wide provided for in terms of the Western
Bushveld Joint Venture the purchase price is to be reduced to R601 778 823.67,
which will be settled by the issue of 57,421,643 new Wesizwe ordinary shares at
the issue price of R10.48.
All other terms of the Proposed Transaction remain unchanged.
Given that all conditions precedent to the Proposed Transaction have now been
fulfilled, the Proposed Transaction is expected to close on or about Tuesday 11
September 2007.
Illovo, Johannesburg
7 September 2007
Corporate advisor
Qinisele Resources (Pty) Limited
Legal advisor
Bell Dewar Hall
Sponsor
Investec Bank Limited
Enquiries
College Hill +27 11 447 3030
Nick Williams
Fred Cornet
Wesizwe Platinum +27 11 215 2375
Mike Solomon, CEO
Melanie Low, Corporate Affairs Manager
www.wesizwe.com
Date: 07/09/2007 10:40:01 Produced by the JSE SENS Department.
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