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KEATON ENERGY HOLDINGS LIMITED - Results of Xceed Scheme Meeting

Release Date: 03/02/2014 16:00:00      Code(s): KEH     
Keaton Energy Holdings Limited
(A company incorporated in the Republic of South Africa with Registration number:
ISIN: ZAE000117420
JSE Share Code: KEH
(?Keaton? or the ?Company?)


Keaton shareholders are referred to the announcement released by Keaton on SENS on
Thursday, 23 January 2014, as well as previous announcements regarding Keaton?s offer to
acquire the entire issued share capital of Xceed Resources Limited (?Xceed?) by way of a scheme
of arrangement in accordance with Part 5.1 of the Australian Corporations Act 2001, as amended
(the ?Scheme?) and the specific issue of 32 647 838 new Keaton ordinary shares to Plusbay
Limited, a wholly-owned subsidiary of Gunvor Group Ltd for cash, at an issue price of R1.7782
per new Keaton ordinary no par value share.

Keaton shareholders are advised that at the Scheme meeting of Xceed shareholders held in
Perth today, 3 February 2014, the resolution to approve the Scheme was approved by the
requisite majorities of Xceed shareholders.

A hearing before the Federal Court of Australia (the ?Court?) to consider the Scheme is scheduled
to be held on Thursday, 6 February 2014. Keaton shareholders will be notified of the outcome of
the Court hearing.

3 February 2014

Joint financial advisors:                                   Qinisele Resources & Ceres Capital
Legal advisor in Australia:                                 Ashurst
Legal advisor to Keaton in South Africa:                    Norton Rose Fulbright
Investment Bank and Sponsor:                                Nedbank Capital
Independent Expert:                                         BDO
Independent Reporting Accountants to Keaton:                KPMG Inc.
Independent Reporting Accountants in relation to Xceed:     Moore Stephens FRRS Inc.
Tax and Exchange Control Advisors to Keaton:                Webber Wentzel
Joint Competent Persons:                                    Venmyn Deloitte and Gemecs

Date: 03/02/2014 04:00:00 Supplied by www.sharenet.co.za                     
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