BRIEF-Wescoal Says Review Of Current State Of Operations At Arnot Mine, 'As Is Status', Been Completed

  • Reuters
  • Stock Market News
BRIEF-Wescoal Says Review Of Current State Of Operations At Arnot Mine, 'As Is Status', Been Completed
Credit: © Reuters.

Dec 13 (Reuters) - Wescoal Holdings Ltd WSLJ.J :

* UPDATE ON THE ACQUISITION OF A 50% INDIRECT INTEREST IN THE ARNOT MINE

* TO ACQUIRE FROM EXXARO COAL MPUMALANGA PROPRIETARY LIMITED FOR NO CONSIDERATION AND ON A VOETSTOOTS BASIS

* LAST CONDITION IN DEAL ENTERED BY ARNOT OPCO PROPRIETARY & ECM FOR TRANSACTION TO BE UNCONDITIONAL, I.E. ESKOM CONSENT, NOW FULFILLED

* EFFECTIVE DATE OF DEAL WILL BE FEB 1, IN TERMS OF SUBSCRIPTION AGREEMENT CONCLUDED BY PARTIES

* REVIEW OF CURRENT STATE OF OPERATIONS AT ARNOT MINE, 'AS IS STATUS', HAS BEEN COMPLETED

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