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SAH - South African Coal Mining Holdings Limited - Update in respect of

Release Date: 07/11/2011 16:29:01      Code(s): SAH
SAH - South African Coal Mining Holdings Limited - Update in respect of         
various matters                                                                 
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 VARIOUS MATTERS                                            
1.   Put and call agreement                                                     
    Shareholders are referred to the SENS announcement released on 5            
    August 2011.                                                                
RBH Resources Holdings Proprietary Limited ("RBH"), a subsidiary of         
    Royal Bafokeng Holdings Limited, has exercised its put option and JSW       
    Energy Natural Resources South Africa Proprietary Limited ("JSW")           
    acquired the following on 31 October 2011:                                  
*    from Royal Bafokeng Ventures Proprietary Limited 50.2% of the issued       
    shares in Royal Bafokeng Capital Proprietary Limited;                       
*    from RBH the entire issued share capital in Mainsail Trading 55            
    Proprietary Limited ("Mainsail") and including all amounts owing by         
the company to Mainsail.                                                    
2.   Board of directors                                                         
    As a result of the matters referred to in 1 above, it is with regret        
    that the company announces the resignation the chairman of SACMH, Mr.       
Thabo Mokgatlha, an appointee of RBH, with effect from 2 November           
    2011. The Board extends its appreciation to Mr. Mokgatlha for steering      
    the Board through difficult times and wishes him well for his duties        
    in the Royal Bafokeng Group.                                                
The Board is in the process of appointing non-executive directors from      
    the ranks of JSW Energy Limited, India.  These are expected to be           
    effected by 18 November 2011 and an announcement will be made shortly       
The Board has commenced a process of identifying suitable independent       
    non-executive directors to strengthen the Board and to comply with          
    King III and the JSE`s Listings Requirements.                               
3.   Black Economic Empowerment (" BEE ")                                       
A number of potential candidates have approached the company and            
    expressed their interest to become the BEE shareholder in the Company.      
    The company will commence a process shortly to ensure that BEE              
    shareholders are brought into the company over a reasonable period of       
time.   It is the intention to have completed this process by the end       
    of March 2012.                                                              
    The board of the company is, where possible, committed to ensuring the      
    BEE shareholding in the company will be maintained at least at the          
level of that held by RBH, being effectively 32% of the total issued        
    share capital.                                                              
4.   Mandatory offer price                                                      
    SACMH has been informed by JSW that it has taken the decision by the        
Takeover Regulation Panel in respect of the mandatory offer price on        
    review to the High Court. The matter is expected to be heard by the         
    Court before the end of 2011.                                               
7 November 2011                                                                 
Exchange Sponsors                                                               
Date: 07/11/2011 16:29:01 Supplied by www.sharenet.co.za                     
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