Sah - South African Coal Mining Holdings Limited - Extension Of Mandatory Release Date: 20/12/2010 16:34:02 Code(s): SAH
SAH - South African Coal Mining Holdings Limited - Extension of mandatory
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")
EXTENSION OF MANDATORY OFFER
Shareholders are referred to the announcement released on SENS on 26 November
2010 setting out the salient dates of the mandatory offer by JSW Energy
Natural Resources South Africa (Pty) Limited ("JSW SA") to all the remaining
shareholders of SACMH at 30 cents per share, plus a possible additional
amount per share to shareholders who accept the offer, under circumstances
set out in paragraph 3.2.3 of the offer document.
Shareholders are advised that JSW SA has decided, by agreement with the board
of SACMH and the Securities Regulation Panel, to extend the closing date of
the offer until 12:00 on Friday 7 January 2011. All other terms and
conditions of the offer remain unaffected.
The revised salient dates of the offer will therefore be as set out below:
As the listing of the shares is suspended,
there is no last day to trade for
shareholders wishing to accept the offer
consideration. However, in the unlikely Friday, 31 December
event of the suspension of SACMH`s shares 2010
on the JSE being lifted prior to the
closing date of the offer, the last day to
trade will be on
Offer closes at 12:00 on Friday , 7 January
Record date Friday, 7 January
Results of the offer released on SENS on Monday, 10 January
Results of the offer published in the Tuesday, 11 January
press on 2011
Payment date See note 8 below
1. Certificated shareholders are required to complete the forms of
acceptance, transfer and surrender in the circular and return them to
the transfer secretaries by no later than 12:00 on the closing date of
2. Any change to the above dates and times will be agreed upon by JSW SA
and SACMH and advised to SACMH shareholders by notification on SENS and
in the South African press.
3. No dematerialisation or re-materialisation of SACMH shares will take
place between Friday, 31 December 2010 and Friday, 7 January 2011.
4. All times indicated above are South African times.
5. Offerees should note that acceptance of the offer will be irrevocable.
6. The offer consideration due to dematerialised shareholders will not be
posted to such shareholders but will be transferred, at their risk, to
their accounts with their CSDP or broker where the consideration will be
dealt with in terms of the custody agreements entered into between such
dematerialised shareholders and their CSDP`s or brokers.
7. Cheques in respect of the offer consideration due to certificated
shareholders will be posted, by registered mail, to such shareholders,
at such shareholders` risk, to their addresses reflected in the form of
acceptance, transfer and surrender, or if there is no address on the
said form, to the addresses reflected on the shareholder register.
Alternatively, the offer consideration will be electronically
transferred into a certificated shareholder`s bank account if details of
such account are available to the transfer secretaries and the
certificated shareholder concerned has entered into a mandate with the
8. Acceptances received by the transfer secretaries before 12:00 on each
Friday between the opening date and the closing date, will be settled,
transferred or posted (as the case may be) on the following Monday. The
final settlement, transfer or posting will be on Monday, 10 January 2011
for the period ending at 12:00 on the closing date, Friday, 7 January
2011. 30 cents per share of the offer consideration will be paid as set
out above. If an additional payment becomes payable to shareholders who
accepted the offer in terms of paragraph 3.2.3 of the offer, it will be
paid not more than 6 business days after both conditions in paragraph
3.2.3 have been fulfilled.
9. Application will be made to the JSE, as soon as practicably possible
after the conclusion of the offer, to lift the suspension of SACMH`s
shares on the JSE. It should be noted that in terms of the Listings
Requirements a company listed on the main board of the JSE must use its
best endeavours to ensure that it has at least 300 shareholders. Should
SACMH not comply at the conclusion of the offer, the JSE will probably
not lift the suspension of its shares.
20 December 2010
Date: 20/12/2010 16:34:01 Supplied by www.sharenet.co.za
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