Yomhlaba - Voluntary suspension of trading
YOMHLABA RESOURCES LIMITED
(formerly Zenith Concessions Limited)
(Registration Number 1994/009012/06)
Share Code: YBA ISIN: ZAE000060281
(`Yomhlaba`)
VOLUNTARY SUSPENSION OF TRADING
Ingwe Collieries Limited (`Ingwe`), a subsidiary of BHP Billiton Ltd, has
terminated its contract with Yomhlaba to beneficiate coal at Ingwe`s
Koornfontein Mine and Douglas Colliery. The termination is effective from 2
March 2005 on the grounds of alleged illegal and / or unethical practices.
Yomhlaba was verbally informed of these allegations on 1 March 2005 and despite
having requested Ingwe for proof of the alleged allegations, Ingwe terminated
the contract on 2 March 2005. Yomhlaba strongly denies all the allegations and
its attorneys have placed Ingwe on terms to deliver proof of these allegations
by 4 March 2005, failing which Yomhlaba will apply to court on an urgent basis
for an order compelling Ingwe to do so.
Due to the fact that this agreement is Yomhlaba`s only income-producing contract
and that Yomhlaba has not been given the opportunity to respond to the
allegations, the Board of Yomhlaba has resolved to request the JSE Securities
Exchange South Africa to suspend the trading of Yomhlaba shares with effect from
the commencement of trading on 3 March 2005 until further notice.
The Board of Yomhlaba is unanimous that the termination of the contract is
unjustified and reserves all its rights.
Johannesburg
3 March 2005
Designated Advisor
RiverGroup
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