WTL - William Tell Holdings - Successful Application For DTI Grant On New
WTL
WTL
WTL - William Tell Holdings - Successful Application For DTI Grant On New
Production Facility At Chamdor
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")
SUCCESSFUL APPLICATION FOR DTI GRANT ON NEW PRODUCTION FACILITY AT CHAMDOR
The Company has pleasure in advising shareholders that it has successfully
applied for a grant in terms of the provisions of the EIP: Manufacturing
Investment Programme ("MIP"), administered by the Department of Trade and
Industry, in respect of its new production facility at Chamdor, Krugersdorp.
The grant claim period commences on 01/07/2009 and terminates on the 30/06/2011.
The grant, which is non-taxable, is for R30 million payable in two tranches of
R15 million each, within 90 days of finalisation of the audited financial
statements of the Company for the financial years ending on 30 June 2010 and 30
June 2011, respectively.
The payment of the grant is subject to the Company fulfilling the terms and
conditions of the MIP, which inter alia, requires certain pre-determined levels
of capital expenditure(the bulk of which was incurred in the building of the
plant in the previous period), turnover and employment targets for the next two
financial years.
Johannesburg
1 December 2009
Designated Adviser: PSG Capital (Pty) Ltd
Date: 01/12/2009 15:02:01 Produced by the JSE SENS Department.
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