WESCOAL HOLDINGS LIMITED - Funding secured with Investec Bank Limited for the Elandspruit Colliery
WSL 201410310016A
Funding secured with Investec Bank Limited for the Elandspruit Colliery
WESCOAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
(JSE code: WSL ISIN: ZAE000069639)
(“Wescoal” or “the company”)
Funding secured with Investec Bank Limited for the Elandspruit Colliery
Wescoal shareholders are advised that the company has concluded a financing facility with
Investec Bank Limited, acting through its Corporate and Institutional Banking division (“Investec”),
whereby Investec has provided Wescoal with a R180 million 5 year term loan and a R20 million 5
year working capital facility, subject to fulfilment of conditions precedent customary for a financing
of this nature.
- R70 million will be used to retire the current Investec term facility;
- R110 million will be used for commissioning of the Elandspruit Colliery, including the acquisition
of the Mahunga plant, mine operational infrastructure, surface rights and production start-up
costs; and
- the working capital facility of R20 million is available for general purposes.
31 October 2014
Isando
Sponsor
Exchange Sponsors
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