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SAH - South African Coal Mining Holdings Limited - Trading Update and BEE

Release Date: 30/03/2012 14:44:02      Code(s): SAH
SAH - South African Coal Mining Holdings Limited - Trading Update and BEE       
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")                                                      
TRADING UPDATE AND BEE TRANSACTION                                              
Trading Update                                                                  
In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are 
required to publish a trading statement as soon as they are satisfied that a    
reasonable degree of certainty exists that the financial results for the period 
to be reported on will differ by 20% or more from the financial results for the 
previous corresponding period.                                                  
All indications are that the company`s provisional results for the year ended 31
December 2011 will be more than 20% weaker than the results for the previous    
corresponding period.                                                           
The company`s provisional results for the year ended 31 December 2011 which are 
to be completed by 31 March 2012 as required by JSE, are likely to be delayed   
due to the following reasons:                                                   
As mentioned in SACMH`s 2010 annual report issued in August 2011, the company   
had embarked upon a comprehensive resource evaluation exercise. This exercise   
undertaken by the company was completed in January 2012 and SRK Consulting      
("SRK") were engaged to complete a Competent Persons Report ("CPR"), which would
include inter alia an updated reserves and resources statement.  The CPR is     
expected in April 2012, the implications of which  will need to be reflected in 
the results.  Provisional indications are that there may be substantial changes 
compared to the position in SRK`s previous report released in 2008, specifically
with reference to the reserves and resources positions.  These changes may      
result in an impairment charge; the nature and extent of this charge will be    
determined upon receipt of the final CPR. The impact of these changes will also 
need to be comprehensively reviewed and investigated by the management and Board
of SACMH.                                                                       
At this stage the company`s auditors are in the process of completing the audit 
of the company`s provisional results for the year ended 31 December 2011, which 
can effectively only be completed upon finalization of the CPR by SRK.          
The final audited results will subsequently need to be adopted by the Board of  
SACMH. Comprehensive efforts are being applied to ensure that these processes   
are completed as early as possible.                                             
BEE Transaction                                                                 
Shareholders are referred to the announcement made on 7 November 2011 on SENS,  
in which it was inter alia stated that the company intended to commence a       
process to reinstate its BEE shareholding.  JSW Energy Natural Resources South  
Africa (Pty) Limited ("JSW"),  the majority shareholder of the company, is      
engaged in running a formal process to reinstate a BEE shareholding, from       
potential acquirers who have expressed firm interest to acquire a minimum       
strategic interest in SACMH from JSW.                                           
30 March 2012                                                                   
Exchange Sponsors                                                               
Media contact:                                                                  
Renay Tandy                                                                     
NGAGE Public Relations                                                          
011 867 7763                                                                    
082 562 5088                                                                    
Date: 30/03/2012 14:44:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          

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