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South African Coal Mining Hldgs Limited - No Change Statement, Notice Of The Annual General Meeting, Delaying In Issuing Interims Results And De-listing Circu

Release Date: 14/12/2015 08:57:00      Code(s): SAH     
South African Coal Mining Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009012/06
Share code: SAH ISIN code: ZAE0000102034
(?SACMH?, ?the group? or ?the company?)

No change statement, notice of the annual general meeting, delaying in issuing interims
results and de-listing circular and notice of change to resources and reserves statement

1)    No change statement and notice of annual general meeting

      Shareholders are advised that the integrated annual report of SACMH for the year
      ending 31 December 2014 were distributed today. The integrated annual report
      contains no modifications to the reviewed results published on SENS on 18 June

      Notice is hereby given that the annual general meeting of shareholders will be held at
      10:00 on Thursday, 14 January 2016 at the offices of the company, 1st Floor, Oxford
      Muse, 198 Oxford Road, Illovo, Sandton.

2)    Delay in issuing the interims results

      Shareholders are advised that there has been a delay in the issue of the interim
      results for the six months ended 30 June 2015 due to the delay in the issue of
      integrated annual report of SACMH for the year ending 31 December 2014. It is
      anticipated that the interim results will be issued by the end of January 2016.

3)    Delaying in issuing the de-listing circular

      Shareholders are referred to the announcements dated 19 and 20 October 2015
      regarding the firm intention announcement in terms of Regulation 101 of the
      Companies Regulations, 2011 of the Companies Act, 2008, in respect of the
      proposed delisting of SACMH and an offer to all remaining shareholders. There has
      been a delay in posting of the circular due to the delays in issuing the integrated
      annual report of SACMH for the year ending 31 December 2014 and the interim
      results for the six months ended 30 June 2015.

      It is expected that the circular will be posted to shareholders by 31 January 2016.

4)    Notice of change to resources and reserves statement

      The company?s integrated annual report for the year ended 31 December 2013
      included a resource and reserves statement that indicated 10.4 Mt of coal classified
      as both proven and probable reserves.

      In the provisional results for the year ended 31 December 2014 released on 18 June
      2015, it was stated in paragraph 5 that no change to the estimated reserves and
      resources has taken place.

      In the course of preparing the integrated annual report for the year ended 31
      December 2014, competent persons were instructed to prepare a resource and
      reserves update.
       Miptec (Pty) Limited and KJB GeoServices concluded on 3 June 2015 that as no
       mining activities took place during the 2013 ? 2014 fiscal year, there was no
       material change to the resource estimates. However, due to prevailing market
       conditions as at 31 December 2014, the resources cannot be converted to
       reserves. At the time of the report, the coal could not be economically extracted,
       and therefore the measured and indicated coal resources that were previously
       converted to reserves, have to remain as resources. These reserves have therefore
       been re-classified as resources.

       The Umlabu Resource and Reserves Update is available on the company?s website

14 December 2015

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Date: 14/12/2015 08:57:00 Supplied by www.sharenet.co.za                     
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