Trans Hex Group Limited (JSE:TSX) reached an agreement to acquire additional 27.2% stake in West Coast Resources (Pty) Ltd from RAC Investment Holdings (Pty) Ltd for ZAR 21.6 million on October 9, 2017. The consideration will be settled through the issue of 9.4 million new ordinary shares of Trans Hex Group Limited. Upon completion, West Coast Resources (Pty) Ltd will become a 67.2% held subsidiary of Trans Hex Group Limited. West Coast Resources (Pty) Ltd reported net assets of ZAR 226 million as at March 31, 2017. The transaction is subject to entering into of formal agreements in respect of the transaction, approval by shareholders of Trans Hex Group Limited, Industrial Development Corporation (IDC) of South Africa Limited providing written consent(s) as required in terms of the loan agreement between West Coast Resources (Pty) Ltd and IDC, IDC providing written consent to the release of the sale shares from the cession in securitatem debiti given by RAC Investment Holdings (Pty) Ltd in favour of IDC and the receipt of all approvals, consents or waivers from those South African regulatory authorities as may be necessary to implement the transaction, including approval by the competition authorities. Snowden Mining Industry Consultants Proprietary Limited acted as independent expert for Trans Hex Group Limited while QuestCo (Pty) Limited acted as financial advisor, PricewaterhouseCoopers Incorporated as accountant and Bowman Gilfillan Inc. as legal advisor. One Capital acted as Transaction Sponsor to Trans Hex Group Limited.