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Sah - Sacmh - Update In Respect Of Mandatory Offer; Further Cautionary

Release Date: 12/10/2010 17:00:03      Code(s): SAH
SAH - SACMH - Update in Respect of Mandatory Offer; Further Cautionary          
Announcement; and New Financial Director and Company Secretary                  
South African Coal Mining Holdings Limited                                      
(Incorporated in the Republic of South Africa)                                  
Registration number 1994/009012/06                                              
Share code : SAH & ISIN : ZAE000102034                                          
("SACMH" or "the company")                                                      
-    UPDATE IN RESPECT OF MANDATORY OFFER;                                      
-    FURTHER CAUTIONARY ANNOUNCEMENT; AND                                       
-    NEW FINANCIAL DIRECTOR AND COMPANY SECRETARY                               
1.   Mandatory offer                                                            
Shareholders are referred to the previous update issued on 27 August 2010.  
    The Minister of Trade and Industry has not yet appointed new members of the 
    Securities Regulation Panel ("SRP") in terms of the Companies Act, 1973.    
    The hearing of the appeal can therefore not proceed.                        
Under the circumstances JSW Energy Natural Resources South Africa (Pty)     
    Limited ("JSW") has, subject to the approval of the SRP, decided to proceed 
    with an offer of 30 cents per share. Should the SRP in due course rule that 
    the comparable offer price should have been more than 30 cents per share,   
JSW will pay the amount per share in excess of the 30 cents per share       
    already paid, to those shareholders who accept the offer.                   
    The offer and circular to shareholders are currently being prepared and     
    will have to be approved by the SRP and the JSE before being issued.        
2.   Further cautionary announcement                                            
    Although the trading in the company`s shares on the JSE remains suspended,  
    shareholders are advised to continue exercising caution when dealing in the 
    company`s securities until a further announcement is made in respect of the 
offer.                                                                      
3.   New financial director and company secretary                               
    Mr Grant Scrutton resigned as Chief Executive Officer with effect from 31   
    August 2010. The Nominations Committee is interviewing candidates and hopes 
to announce the name of his successor soon. In the meantime the chairman,   
    Mr Thabo Mokgatlha, acts as CEO.                                            
    Mr David Miller, B.Comm, Dip. Acc, CA (SA), has been appointed as financial 
    director with effect from 1 October 2010. He has been the financial         
director of various private companies over the past 15 years.               
    Ms Patricia Smit, FCIS, B.Iuris, has been appointed as company secretary    
    with effect from 1 October 2010. She has more than 20 years` experience as  
    company secretary of listed and unlisted companies. She has post graduate   
diplomas in Company Law and Corporate Governance.                           
12 October 2010                                                                 
Johannesburg                                                                    
Sponsor                                                                         
Exchange Sponsors                                                               
Date: 12/10/2010 17:00:02 Supplied by www.sharenet.co.za                     
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