Has entered an Agreement for the sale of Brandrill South Africa to Intresco Ltd. The anticipated completion date for the sale is the end of March 03. The agreement is subject the approval of South African Competition Tribunal and consent from lenders to Brandrill, but is not subject to further due diligence by Intresco.
Carpenter Pacific Resources NL
Has completed the sale of its interest in Arc Energy NL realising a net profit of approximately $620,000. Carpenter purchased 4,437,500 shares in ARQ in November 2002 at an average price of $0.485 per share.
West Australian Metals Ltd
Completed the sale of the Company's 26.67% shareholding in specialised software company, BMS Solutions Pty Ltd, on 7th February 03.
Westgold Resources NL
Has completed the sale of its interest in Arc Energy NL realising a net profit of approximately $570,000. Westgold purchased 3,737,500 shares in ARQ in November 2002 at an average price of $0.47 per share.
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