Published: 12 November 2013

The Board of Directors of Hwange Colliery Company Limited convened a Special Board meeting on the 4th of November 2013 to deliberate on the $50.0m shareholder loan and restructuring proposed by Willoughby Consolidated Plc.

The Board resolved that:
a) Further consideration of the proposal be done.

b) Other shareholders to be consulted.

c) IDBZ to be appointed as financial advisor to evaluate the proposal and liaise with stakeholders and shareholders and present its recommendations to the Board no later than the 30th November 2013.
- businessdaily

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