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Wescoal (WSL)


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#1 soutie

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Posted 02 March 2021 - 09:45 AM

I'm not sure of timelines but FY end is March 31st. So this bid is to avoid the closed period prior to results or at least a trading statement should there be +/-20% difference.


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#2 soutie

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Posted 02 March 2021 - 09:36 AM

Get some popcorn.

This share re-purchase\buy back & now open market bid has been going on for 20mths in various formats...

Those who know aren't selling until the offer is at least R2 or above...

 

BID IN THE OPEN MARKET BY RBFT INVESTMENTS PROPRIETARY LIMITED TO ACQUIRE SHARES IN WESCOAL

Shareholders are referred to the announcement released on SENS on 16 February 2021 advising that RBFT
Investments Proprietary Limited (“RBFTI”) and its related persons, have published an announcement
providing details of their decision to increase RBFTI’s shareholding in Wescoal (the “RBFTI Bid”).

In this regard, shareholders are advised that the RBFTI Bid has been extended until the earlier of market
close on 5 March 2021 or such time as the maximum number of Wescoal shares has been acquired in terms


Edited by soutie, 02 March 2021 - 09:37 AM.

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#3 soutie

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Posted 26 February 2021 - 04:54 PM

Total wanted 116mil

Total acquired 35.4mil

Guess it's sit tight for most peops.


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#4 soutie

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Posted 23 February 2021 - 09:17 AM

To date.....22,9mil changed hands.

Today day #6 of 10.


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#5 soutie

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Posted 18 February 2021 - 09:34 AM

To date 20mil changed hands

Day 1..... 18.9mil

Day 2..... 480k

 

Wonder what will be if they only manage to get +/-30 odd mil...???


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#6 soutie

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Posted 16 February 2021 - 08:39 AM

 

Morning to all the long sufferers still in here & an extra special greeting to the sufferers whom I may of coerced into this....again apologies..... :( Anyhow laid out below is the nuts & bolts of today's SENS.

As always all comments thoughts welcome. Have a great day.

 

BID IN THE OPEN MARKET BY RBFT INVESTMENTS PROPRIETARY LIMITED TO ACQUIRESHARES IN WESCOAL HOLDINGS LIMITED

RBFT Investments Proprietary Limited ("RBFTI") and its related persons (collectively, the "Parties") currently hold 56.87% of the issued Wescoal Holdings Limited ("Wescoal") ordinary shares ("Wescoal Shares"). The Parties are desirous of increasing their shareholding in Wescoal (the "Transaction"). The Parties remain extremely confident in the prospects of Wescoal, as illustrated by their consistent acquisition of a significant amount of Wescoal Shares over the years.

The Transaction is being undertaken in order to increase the Parties' interest in Wescoal and simultaneously provides liquidity to the other holders of Wescoal Shares (the "Wescoal Shareholders") who may wish to sell their Wescoal Shares.

To this end, RBFTI wishes to draw Wescoal Shareholders' attention to the fact that RBFTI will, through its broker, Nedgroup Securities Proprietary Limited, from time to time place bids in the market from the commencement of trade on 16 February 2021 to acquire up to 116 million Wescoal Shares ("Maximum Number") at R1.20 per Wescoal Share ( the "RBFTI Bid").

The RBFTI Bid will remain open for acceptance by the Wescoal Shareholders until the earlier of market close on 26 February 2021 or such time as the Maximum Number has been acquired. Settlement will take place as and when the RBFTI Bid is accepted through the JSE settlement process.

The RBFTI Bid is an exempt partial offer in terms of the relevant provisions of the Companies Act, No. 71 of 2008 and should in no way be construed as a general offer by RBFTI to acquire the remaining voting securities in Wescoal.

Johannesburg
16 February 2021

Broker contact details
Nedgroup Securities
Email: NedbankEquities@Nedbank.co.za
Tel: +27 11 295 8227

 

 


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#7 soutie

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Posted 24 January 2020 - 11:54 AM

See ex chairman propping it up...quite ironic seeing as a lot of the head office shennanigans can be laid at his door...

Nobody else in the company anywhere near it....!  

Why....?


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#8 soutie

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Posted 26 November 2019 - 10:01 AM

Reading through the whole results I came across this....

 

7. Share capital Share buy-back The company reserved an additional R33.8 million (FY19: R6 million) for the buy-back of its ordinary shares during the year. The funds were transferred to Legae Securities to facilitate the buy-back on its behalf. The remaining R0.1 million (FY19: R1.9 million) is included under trade and other receivables. During the period July 2019 through to September 2019, 22 393 777 of the company’s ordinary shares were purchased on-market. The shares were acquired at an average price of R1.59 per share, with prices ranging from R1.35 to R1.65. During the period August 2019 through September 2019, 5 564 930 of the company’s ordinary shares were purchased on-market. The shares were acquired at an average price of R1.85 per share, with prices ranging from R1.76 to R2.18. These shares will be cancelled in due course

 

I'm sure all who hold shares in this would most certainly have noticed that this isn't exactly true....! Off market maybe but who...?

When did it get above R2....?


Edited by soutie, 26 November 2019 - 10:04 AM.

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#9 Midas1

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Posted 09 November 2019 - 11:42 AM

Re coal I read yesterday china coal consumption down 15 percent if recall correctly article was on sharenet.co.za...sorry man..cr#p when sitting with money in duff share...been there with mcz before..and ditched them
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#10 Investment novice

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Posted 08 November 2019 - 06:19 PM

Soutie indeed a disappointment, look to pick this share up at 60c. Dump earlier rather than later as numerous people qould be disappointed as you are and will exit.

Sent from my SM-G950F using Sharenet Sharechat mobile app
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#11 soutie

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Posted 08 November 2019 - 05:15 PM

I've consistently backed this piece of sh#t for yrs in the belief that it will be a BEE champion.....Oh how f#cking wrong can you be....8yrs wrong that's how...!

 

https://www.sharenet...0&seq=46&scode=

 

After reading this garbage it's pretty obvious that this has turned into a mutt of note.....& management seem to be overwhelmed...

Will sell before yr end.

Rant over.

Good w/end to all.


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#12 soutie

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Posted 16 October 2019 - 04:16 PM

AGM today....

This is the bit I really like.... :)

 

Shareholders are advised that the following resolutions were withdrawn prior to the commencement of the annual
general meeting:

• Ordinary Resolution Number 1.1 relating to the re-election of Ms DMT van Gaalen and Mr JG Pansegrouw as
independent non-executive directors of the Company

 

These 2 Muppets have been on the board waaaaay too long & as for Ms van Gaalen no comment....!

 

Next items should be trading statement & update on progress at Moabsvelden....to be continued....


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#13 Midas1

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Posted 24 August 2019 - 09:16 AM

🤣
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#14 soutie

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Posted 23 August 2019 - 03:49 PM

No need for my back of the napkin maths no more. It's all here....

 

 

https://www.sharenet...0&seq=35&scode=

 

Have a great w/end...


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#15 soutie

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Posted 07 August 2019 - 01:12 PM

Total for July Month.

Traded +/- 1,920,000

Value +/-  R3,477,000


Name:                                   T Tshithavhane
Designation:                            Executive director

Date of transaction:                    19 July 2019
Class of securities:                    Ordinary shares
Number of securities:                   80 500
Price per security:                     R1.42
Total value:                            R114 310

Date of transaction:                    22 July 2019
Class of securities:                    Ordinary shares
Number of securities:                   50 000
Price per security:                     R1.42
Total value:                            R71 000

Nature of transaction:                  Purchase on the open market
Extent of interest:                     Direct beneficial
Clearance to deal:                      Yes


Name:                                   R Demana
Designation:                            Executive director

Date of transaction:                    31 July 2019
Class of securities:                    Ordinary shares
Number of securities:                   160 000
Price per security:                     R1.60
Total value:                            R256 000

Nature of transaction:                  Purchase on the open market
Extent of interest:                     Direct beneficial
Clearance to deal:                      Yes

Total so far August excludes today.
Traded +/- 460,000
Value +/-  R694,000
 


Edited by soutie, 07 August 2019 - 01:15 PM.

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#16 soutie

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Posted 30 July 2019 - 05:09 PM

Thursday & Friday last week:

+/- 492,000 Traded...Value +/-R762,000

 

Today: +/- 612,000 Traded....Value +/-R971,000

Cheers.


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#17 soutie

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Posted 25 July 2019 - 10:19 AM

I'll be keeping a record of buys from 23rd's announcement of the buy-back.

I will however be treating it as WSL is the only buyer.

Please don't expect a spread sheet analysis... :rolleyes:

As of close yesterday +/- 460,000 traded...Value +/-R668,000

Cheers.


Edited by soutie, 25 July 2019 - 10:20 AM.

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#18 soutie

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Posted 23 July 2019 - 04:26 PM

Given the severely subdued price I fully concur with the SENS below.


VOLUNTARY ANNOUNCEMENT: GENERAL REPURCHASE OF SHARES

Wescoal announced at its annual results presentation for the financial year ended 31 March 2019, that it intends
distributing capital to its shareholders (“Shareholders”) by way of a general repurchase in terms of the general
authority granted by Shareholders at the annual general meeting held on Wednesday, 23 January 2019
(“Repurchase”).

Wescoal is pleased to inform Shareholders that it has with effect from 23 July 2019 appointed a broker to implement
the Repurchase.

The Repurchase will be implemented in accordance with the Companies Act, No 71 of 2008, and the JSE Limited (“JSE”)
Listings Requirements through the order book operated by the JSE, and in a series of unrelated transactions without
any prior understanding or arrangement between the Company and the counter-parties.

23 July 2019

Edited by soutie, 23 July 2019 - 04:27 PM.

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#19 soutie

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Posted 15 July 2019 - 02:03 PM

http://smallcaps.co....ing-given-away/

 

This guy's as biased as me.... :wacko:


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#20 soutie

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Posted 01 July 2019 - 08:42 AM

is that for me or S?? i juts invested at R1.25 ..and looking good @ R1.46 now..16% in a week :rolleyes:

 

reason i went in ...think its offers solid value for 2 years most....and now talk of share buy back....Fair value in my books R2.00 ( although some value it much higher) where i will sell... Just one of those small caps hated by the market at moment..They hate all small caps...So i need to be carefull not to be at wrong end of a portfolio manager offloading...hence ill take R1.90/R2.00 anytime

 

 

Morning.

Believe me you would know very quickly if the above was to take place...A more likely scenario is contacting them directly & asking who wants a load as in millions.

That's 1 of the biggest issues for this ticker & yes it works both ways you can't accumulate\dis-invest without moving the price considerably. Volume here is so restricted. Further down the thread is the main reason it doesn't get over R2 for any amount of time & until those 10 or so mil shares are sold we stagnate.

There's many reasons to hold & the only reason not to is the R2 barrier that long-timers like me so wish for.....After R2 it'll hit the f$ckin' moon.... :P 

It's all on this thread

It's all your own decision though.

Have a great day all.... 


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