Last checked at 22 Feb 2011 15:23
Watermark Global Plc
("Watermark" or the "Company")
Shareholder Update
The Board of Watermark wishes to provide shareholders with an update on the situation regarding the Acid Mine Drainage (AMD) project in South Africa, currently being progressed by its wholly-owned subsidiary, Western Utilities Corporation Ltd. ("WUC")
Recently there has been much press speculation in South Africa regarding the situation and the pressing need for the government there to decide what needs to be done and to begin enabling it. On 22 February 2011, the government released the minutes of a Cabinet meeting held on 16 February 2011 which, inter alia, shows that the government has accepted various recommendations made by a panel of experts appointed by an Inter-Ministerial Committee regarding the treatment of AMD.
http://www.info.gov.za/speech/DynamicAction?pageid=461&sid=16432&tid=28606
The board of Watermark will make a further announcement once it has reviewed the report due to be issued on Thursday the 24th of February 2011 which it hopes will help to clarifiy the situation.
For further information please contact:
Jaco Schoeman, Chief Executive Officer Tel: + 44(0) 20 7233 1462jschoeman@watermarkglobalplc.com
Investor RelationsCharles Zorab Tel: + 44(0) 20 7233 1462czorab@watermarkglobalplc.com
Nominated Adviser: Cenkos SecuritiesIan Soanes/Elizabeth Bowman Tel: +44(0)20 7397 8900
Copyright Business Wire 2011