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WDS Limited, Exit of PALA Investments and Resignation of Director

Sydney, 29 August 2014: WDS Limited (ASX:WDS), a leading integrated services provider to the energy and mining sectors, today announced its major shareholder PALA Investments has advised the company that following a successful book-build overnight it has sold its 25.3% stake (36,657,083 shares) in the company at $0.92 per share. Following this transaction PALA’s representative Mr Michael Barton has also tendered his resignation as a Director of the Company.
PALA Investments had been an investor in WDS since 2007 and became a substantial shareholder in February 2010. WDS Chairman Ross Rolfe commented: “We would like to thank PALA Investments for the strong support it has provided WDS over the last few years. We would particularly like to thank Michael Barton for his commitment and the contribution he has made to the development of the company since becoming a Director in February 2011.”
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