WEZ - Wesizwe Platinum - The acquisition of a 37% participation interest in
WEZ
WEZ
WEZ - Wesizwe Platinum - The acquisition of a 37% participation interest in
the Western Bushveld
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
JSE code: WEZ ISIN: ZAE000075859
(the "Company" or "Wesizwe")
THE ACQUISITION OF A 37% PARTICIPATION INTEREST IN THE WESTERN BUSHVELD JOINT
VENTURE ("WBJV") FROM RUSTENBURG PLATINUM MINE LIMITED ("RPM") AND THE
CONCURRENT TRANSACTION WITH PLATINUM GROUP METALS LIMITED ("PTM") ("THE PROPOSED
TRANSACTIONS") BECOMES EFFECTIVE
Wesizwe is pleased to announce that all of the conditions precedent to the
Proposed Transactions have been fulfilled. The Proposed Transactions have
accordingly been implemented in accordance with the terms and conditions of the
definitive transaction agreements entered into between, inter alia, Wesizwe, RPM
and PTM and became effective from 22 April 2010.
In terms of the Proposed Transactions, Wesizwe gains full ownership of its core
Frischgewaagd-Ledig Project whilst retaining its 26% shareholding in the WBJV`s
Projects 1 & 3.
The board of directors of Wesizwe ("the Board") welcomes the appointment of
Michael Howard Rogers, a RPM nominee, as non-executive director to the Board of
Wesizwe effective from 22 April 2010, whose appointment was confirmed by Wesizwe
shareholders at the meeting of shareholders on 22 June 2009.
Melrose, Johannesburg
22 April 2010
Corporate advisor
Qinisele Resources (Pty) Limited
Sponsor:
Investec Bank Limited
Legal advisor
Bell Dewar
Company Secretary
Eversheds
Date: 22/04/2010 17:27:26 Produced by the JSE SENS Department.
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