TBX - Thabex - Disposal Of Interest In Angel Diamonds
TBX
TBX
TBX - Thabex - Disposal Of Interest In Angel Diamonds
THABEX LIMITED
("Thabex" or "the Company")
Registration No 1988/000763/06
(Incorporated in the Republic of South Africa)
JSE share code: TBX
ISIN Code: ZAE000013686
Young Lions Exploring Africa
DISPOSAL OF INTEREST IN ANGEL DIAMONDS
Shareholders are referred to the SENS announcements dated 9 October 2008 and 30
May 2009 relating to the proposed disposal by Thabex of its interest in Angel
Diamonds (Pty) Limited ("Angel"), a 70% held subsidiary of Thabex, to Mantle
Diamonds Limited ("Mantle Diamonds").
Thabex has been informed today that the South African Reserve Bank has not
approved the disposal as they are of the view that:
1. Angel cannot be disposed of on extended credits terms; and
2. the issuance of Mantle Diamonds ordinary shares to the Angel shareholders
would constitute a loop structure.
Accordingly Shareholders are hereby advised that Thabex will not proceed with
the disposal of its interest in Angel and a Circular to shareholders will not be
sent in terms thereof.
3 April 2009
Johannesburg
Sponsor
PSG Capital (Pty) Limited
Date: 03/04/2009 13:36:02 Produced by the JSE SENS Department.
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