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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" or "the Group")
Young Lions Exploring Africa
UPDATE TO SHAREHOLDERS
Angel Diamonds (Proprietary) Limited
Shareholders are referred to the announcement released on SENS on 3
October 2011 and are advised that the Thabex, Angel Diamonds
(Proprietary) Limited ("Angel Diamonds") and other interested parties
successfully brought an interdict on 30 September 2011, against, inter
alia, The Minister of Natural Resources and the Commissioner of Mines
and Geology of Lesotho to show why they and others are not in contempt
of court in terms of the main interdict (Case CIV/APN/664/2010 of 30
November 2010) relating the apparent granting of a Mining License to
Reskol Diamond Mining (Proprietary) Limited ("Reskol").
The return date for the hearing of the main interdict and the latest
interdict was set down and anticipated for 6 October 2011,
respectively, and was postponed to 4 November 2011. The Honourable
Judge ruled that Reskol, which company did not file a reply, file its
opposing affidavit by today. Thabex and others were given until 21
November 2011 to reply to the late filing of the Minister of Natural
Resources` and Reskol`s affidavits. The hearing was postponed to 30
November 2011.
Interim financial results for the period ended 31 August 2011
Since Angel Diamonds has been discharged from provisional liquidation
on 19 May 2011, the Company has made several requests to obtain the
accounting records of Angel Diamonds from Messrs Mosebo and
Engelbrecht. Thabex has not received any response from them or their
attorneys in Maseru. The failure to provide all accounting records
continue to prevent Thabex from procuring an audit of Angel Diamonds,
which in turn causes Thabex`s Group results to be incomplete for
purposes of a review for the six months ended 31 August 2011. The
Company will however approach the High Court in Lesotho to compel them
to handover the requested documents.
Shareholders will be informed when the Group`s interim results for the
period ended 31 August 2011 will be published.
Johannesburg
8 November 2011
Sponsor
Merchantec Capital
Date: 08/11/2011 17:13:38 Produced by the JSE SENS Department.
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