TBX
TBX
TBX - Thabex Limited - Update To Shareholders
Thabex Limited
Incorporated in the Republic of South Africa
(Registration number 1988/000763/06)
Share code: TBX ISIN: ZAE000013686
("Thabex" or "the Company")
Young Lions Exploring Africa
UPDATE TO SHAREHOLDERS
Shareholders are referred to the update to shareholders announcements the last
of which was released on SENS on 19 November 2010 and are advised that the
ruling on 17 November 2010, in the High Court of Lesotho ("High Court"), on the
Case relating to Angel Diamonds (Proprietary) Limited ("Angel Diamonds") (Case
CIV/APN/333/2010) is under Appeal. It is expected that the Appeal will only be
heard during April 2011.
Subject to the outcome of the Appeal, Thabex and other interested parties have
successfully applied for a Court Order in the High Court for an Interim
Interdict (Case CIV/APN/664/2010) against the Minister of Natural Resources and
others with a return dated of 13 December 2010 to, inter alia, prevent the
granting of a Mining Lease to any other company including Angel Diamonds until
all matters, including the Appeal and the liquidation Petition have been
finalised.
As previously announced, an urgent application for the provisional liquidation
of Angel Diamonds (Case CIV/PET/01/10) was granted on 8 October 2010 and the
hearing in this case was again postponed to 6 December 2010.
Thabex and other interested parties were not able the establish the whereabouts
of the rough diamonds stock of Angel Diamonds in Lesotho, as specifically
required in terms of the Regulations of the Kimberley Process. Thabex and other
interested parties have lodged a formal complaint about the matter to the
Kimberly Process Secretariat.
Shareholders will be informed about any further developments regarding the above
as well as the expected date of publication of the Company`s February 2010 year
end results.
Johannesburg
1 December 2010
Sponsor
Merchantec Capital
Date: 01/12/2010 16:06:02 Produced by the JSE SENS Department.
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