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WTL
WTL
WTL - William Tell Holdings Limited - Receipt of fourth payment in respect
of DTI grant
WILLIAM TELL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2004/030045/06)
JSE code: WTL ISIN: ZAE000098133
("the Company")
RECEIPT OF FOURTH PAYMENT IN RESPECT OF DTI GRANT
1. Shareholders are referred to the announcements released on SENS on:
1.1 1 December 2009 detailing the Company`s successful application
for a grant ("the DTI grant") in terms of the provisions of the
EIP: Manufacturing Investment Programme ("MIP") administered by
the Department of Trade and Industry ("the DTI"), in respect of
its new production facility at Chamdor, Krugersdorp ("the
December 2009 announcement"); and
1.2 8 April 2011 in which receipt by the Company of the third payment
of the DTI grant received from the DTI was communicated to
shareholders.
2. Further to the above, the Company is pleased to advise that it has
received the fourth payment in the amount of R7.5 million in respect
of the second R15 million tranche of the DTI grant.
3. This amount is non-taxable, non-repayable and will be amortised to
income over the useful life of the plant, being 35 years in accordance
with IFRS. This payment follows the first three payments of R9
million and R6 million regarding the first tranche as announced on 19
November 2010 and 22 March 2011 respectively, and R7.5 million as a
first payment in respect of the second tranche as announced on 8 April
2011.
4. As stated in the December 2009 announcement, the DTI grant is for a
total amount of R30 million payable in two tranches (one payment each
in respect of the 2010 and 2011 financial year end) 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, subject to the conditions
detailed in the announcement.
Johannesburg
6 March 2012
Designated Advisor:
PSG Capital Proprietary Limited
Date: 06/03/2012 13:22:17 Produced by the JSE SENS Department.
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