Disposal

RNS Number : 0642G

Watermark Global PLC

25 June 2012

 



25 June 2012

Watermark Global Plc

Listing of Associate Company Shares

Watermark Global Plc (AIM: WET) ("Watermark" or " the Company"), a company listed on  AIM with a focus on Acid Mine Drainage ("AMD") treatment and coal briquetting in South Africa, announces the listing of its associate company in South Africa.

Further to the announcement of its final results on 13 June 2012, Watermark is pleased to confirm that the shares of Mine Restoration Investments Limited ("MRI"), in which Watermark has an interest of approximately 40%, are now listed on the AltX market of the Johannesburg Stock Exchange under the symbol MRI. (Website: www.minerestoration.co.za)

This listing completes the transaction whereby the Company sold its wholly-owned subsidiary, Western Utilities Corporation Limited, to MRI in exchange for shares in MRI to the value of £2.69 million and cash of £1.81 million.

Your board is very pleased to have concluded the transaction and looks forward to updating shareholders on developments in both its coal briquetting and AMD treatment projects.  As previously announced, Jaco Schoeman has become a non-executive director following completion of the transaction.

Enquiries

Watermark Global plc                                                  

Peter Marks, Chairman                                                                 Tel: + 44(0) 20 7233 1462

Jaco Schoeman, Non-Executive Director                               Tel: + 44(0) 20 7233 1462

[e-mail]

Nominated Adviser: Cenkos Securities

Ian Soanes                                                                          Tel: [phone]

Investor Relations

Charles Zorab                                                                    Tel: + 44(0) 20 7233 1462

[e-mail]

 

END

 

 

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