Weatherly International Plc Regulatory News (WTI)

29 Nov 2006 10:31

Weatherly International PLC29 November 2006 Potential Acquisition of African Assets 29 November 2006 The Directors of Weatherly International plc (AIM: "WTI", "Weatherly" or "theCompany"), announce that it has entered into heads of agreement with New WorldAlloys Limited ("NWA") regarding the potential acquisition of NWA's Africansubsidiaries which hold its African assets. The transaction is conditional, subject to due diligence by Weatherly,shareholder approval by NWA and regulatory approvals as required. Theconsideration for the transaction is up to A$7,500,000 with outstandingliabilities of approximately US$500,000 remaining the responsibility of NWA. For further information please contact: WeatherlyJohn Norris, Company Secretary 020 7917 2989 First City Financial Public Relations Allan Piper 020 7436 7486 This information is provided by RNS The company news service from the London Stock Exchange