update on proposed disposal

12 Mar 2012 07:00

Watermark Global Plc

("Watermark" or the "Company")

Update on Proposed Disposal

12 March 2012

Further to the Company's announcement of 17 February 2012, Watermark advises shareholders that Capricorn Investment Holdings Limited ("Capricorn") continues to liaise with the Johannesburg Stock Exchange ("JSE") with regard to its approval of the circular that Capricorn intends to publish in connection with its acquisition of Watermark's wholly-owned subsidiary, Western Utilities Corporation (Pty) Ltd. Completion of this transaction is conditional upon, inter alia, the approval of Capricorn shareholders at a general meeting and certain regulatory filings, as well as the JSE's approval of Capricorn's circular.

Further announcements will be made as appropriate to update shareholders on the progress of the transaction.

Enquiries

Investor Relations

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

czorab@watermarkglobalplc.com

Nominated Adviser: Cenkos Securities

Ian Soanes/Max Hartley Tel: +44(0)20 7397 8900

Copyright Business Wire 2012