Wescoal - Proposed Acquisition Of Anker Coal And F
WSL
WSL
Wescoal - Proposed Acquisition Of Anker Coal And Further Cautionary Announcement
Wescoal Holdings Limited
(previously known as "Abrina 724 Limited")
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
(JSE code: WSL & ISIN: ZAE000069639)
("Wescoal" or "the company")
PROPOSED ACQUISITION OF ANKER COAL AND FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcements dated 18 January 2006, 8 March 2006 and
23 March 2006, shareholders are advised that Wescoal is still in negotiations
with the current shareholders of Anker Coal and Mineral Holdings South Africa
(Proprietary) Limited ("Anker") regarding the acquisition of equity in Anker.
The transaction is still subject to the signing of final legal agreements and
the fulfilment of conditions precedent. Accordingly, shareholders are advised to
continue exercising caution when dealing in the company"s securities until a
full announcement is made.
05 May 2006
Johannesburg
Designated Adviser
Exchange Sponsors
Warning: The listing of ordinary shares in the company is on ALTx. Investors
are advised of the risks of investing in a company listed on ALTx. Investors are
advised that the JSE does not guarantee the viability or the success of a
company listed on ALTx. In terms of the Listings Requirements, the company is
obliged to appoint and retain a Designated Adviser, which is required to, inter
alia, attend all board meetings held by the company to ensure that all the
Listings Requirements and applicable regulations are complied with, approve the
Financial Director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a Designated
Adviser, it must make arrangements to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its
securities. If a Designated Adviser is not appointed within 30 days of its
suspension, the company faces the termination of its listing without the
prospect of an appropriate offer to minority shareholders.
Date: 05/05/2006 01:51:06 PM Produced by the JSE SENS Department
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