| Fri 6 May 2011, 16:05 | | TBX - Thabex Limited - Update To Shareholders |
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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 2 February 2011 and are advised that the Appeal
in the High Court of Lesotho ("High Court") Case relating to Angel Diamonds
(Proprietary) Limited (In liquidation) ("Angel Diamonds") (Case
CIV/APN/333/2010) which was set down for 7 April 2011, was upheld on 20 April
2011, subject to Thabex paying into Court R250 000 for security. Thabex has
therefore, subject to the outcome of the judgement on the liquidation of Angel
Diamonds on 12 May 2011, not been divested from its interest in Angel Diamonds.
Mr CJ Engelbrecht and Mr TP Mosebo brought an Application to oppose the Interim
Interdict (Case CIV/APN/664/2010) granted against the Minister of Natural
Resources and others on 30 November 2010. The hearing in this matter was again
postponed until 27 June 2011.
To date Thabex and other interested parties have not been able to establish the
whereabouts of the rough diamonds stock of Angel Diamonds in the Kingdom of
Lesotho. The provisional liquidator Messrs Webber Newdigate and attorneys to
Messrs CJ Engelbrecht and TP Mosebo, based in Maseru, reported on 30 March 2011
that they were unable to contact Mr CJ Engelbrecht to answer questions in this
regard. Thabex has consequently reported the disappearance to the investigating
authorities in Lesotho.
Thabex filed an application to compel the Applicant, Mr CV du Plessis, in Case
67885/2010 ("the Case") to provide the requested documents, which application
was to have been heard on 9 February 2011, having withdrawn the Case for hearing
on that day, the applicant`s attorney has put the application to compel him to
provide the documents on the Court role for 9 May 2011.
During an audit committee meeting held on 2 March 2011, it was determined that
the expected date for the finalisation and publication of the Company`s February
2010 year end results which were to be published on SENS on or about 28 February
2011, was not achievable and every effort will made to publish the same on or
about 15 May 2011.
Johannesburg
6 May 2011
Sponsor
Merchantec Capital
Date: 06/05/2011 16:05:01 Produced by the JSE SENS Department.
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