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Significant Advance of the Financial Restructure
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
3 September 2012
Significant Advance of the Financial Restructure
On 25 July 2012 the Board of Firestone Energy Limited (ASX/JSE: FSE) (the
Company or FSE) announced that an Investment Agreement with Ariona
Company SA and the Company had been executed. Under the Investment
Agreement, Ariona will provide funding to the Company for up to A$40.7 million
through a new convertible note facility.
The Company is pleased to announce that it has been advised by Ariona that it
has completed technical, legal and financial due diligence to its satisfaction.
The new convertible note facility is still subject to other conditions precedent, with
the most significant being:
1) Obtaining all necessary regulatory approvals in Australia and South
Africa; and
2) Obtaining Firestone shareholder approval to the issue and for the
conversion of the new convertible notes to be issued to Ariona.
The Company expects to call a Shareholders meeting to approve the transaction
in the near future.
Yours sincerely,
Mr Tim Tebeila (Chairman)
Dr Pius Kasolo
David Knox
Chief Executive Officer
www.firestoneenergy.com.au
Tel: Australia (+61 08 9287 4600)
South Africa (+27 11 706 3548)
About Firestone Energy
Firestone Energy Limited is an independent, Australian exploration and development company
listed on the Australian Stock Exchange Ltd (ASX) and the JSE LIMITED (JSE).
Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through
which Firestone Energy has acquired the right to 60% participation interests in the Waterberg Coal Project located in Lephalale area, Limpopo Province, South Africa.
The first stage of the project is to develop the Smitspan mine which has a substantial
measured thermal coal resource and to develop the Vetleegte mine which is a substantial
metallurgical coal deposit.
Firestone Energy is committed to becoming a profitable independent coal and energy
producer at its projects in South Africa, thereby making a substantial contribution to
the social and economic development of the Lephalale area and South Africa.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital: 3,114 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
Directors and Officers
Non Executive Directors:
Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Officers:
Mr David Knox CEO
Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary
Contact:
Suite B9, 431 Roberts Road, Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Web: www.firestoneenergy.com.au
About Sekoko Resources
Sekoko Resources (Pty) Ltd is a South African-based black-owned energy and minerals
company developing the coal, magnetite iron ore and PGMs Projects in the Limpopo
Province of South Africa. This includes a significant exploration program and development
of the Waterberg Coal Joint Venture Project based on significant Coal Zone Resources.
3 SEPTEMBER
SPONSOR
RIVER GROUP
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