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FIRESTONE'S RESPONSE TO RANGE RIVER'S TAKEOVER ANNOUNCEMENT
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") About Firestone Energy
Firestone Energy Limited is an
18 December 2012
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
Takeover Offer Announced by Range River Gold Limited the Johannesburg Stock Exchange (JSE).
Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd
SHAREHOLDERS SHOULD TAKE NO ACTION
through which Firestone Energy has
acquired the right to 60% participation
The Board of Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or interests in the Waterberg Coal Project
“Firestone”) advises that on 17 December 2012 Range River Gold Limited (ASX: located in Lephalale area, Limpopo Province,
RNG) (“Range River”) announced to the ASX an unsolicited, conditional proposal South Africa.
to acquire all of the ordinary shares in Firestone by way of an off market takeover
offer (the “Range River Offer”). A formal Bidders Statement has not yet been The first stage of the project is to develop the
received from Range River. Smitspan mine which has a substantial
measured thermal coal resource and to
develop the Vetleegte mine which is a
In summary, under the Range River Offer Firestone shareholders will be offered
substantial metallurgical coal deposit.
one (1) Range River share for every two (2) Firestone shares.
Firestone Energy is committed to becoming a
The Board is unanimous in its view that Firestone shareholders should take no profitable independent coal and energy
action and not make any decision in relation to their shareholding in the producer at its projects in South Africa,
Company until the Board has received and has had an opportunity to consider thereby making a substantial contribution to
the Range River Offer. Pursuant to the requirements of Australian Corporations the social and economic development of the
law, the Range River Offer will be outlined in a Bidder’s Statement to be lodged Lephalale area and South Africa.
with the Australian Securities and Investments Commission, released to the ASX Corporate Details
and despatched to Firestone shareholders. Following careful consideration of ASX: FSE
the Range River Offer, the Board will determine and advise Firestone JSE: FSE
shareholders of its recommendation. Issued Capital:
3,114 million ordinary shares
The Range River Offer will not open for acceptance until its Bidder’s Statement is
despatched to Firestone shareholders and must remain open for at least one month Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
The Board’s focus will be on maximising value for shareholders and the Range
River Offer will be considered in that context. The Board will keep shareholders Directors and Officers
informed of any further developments and will provide updates to the market as Non Executive Directors:
appropriate. The Company has retained Kelly & Co. Lawyers as its legal adviser Mr Tim Tebeila (Chairman)
and BBY Limited as its corporate adviser in relation to this matter. David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Yours sincerely, Kobus Terblanche
Officers:
Mr David Knox CEO
Ms Amanda Matthee CFO
David Knox Mr Jerry Monzu Company Secretary
Chief Executive Officer
www.firestoneenergy.com.au Contact:
Tel: Australia (+61 08 9287 4600) Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
South Africa (+27 11 706 3548)
Tel: +61 (08) 9287 4600
Web: www.firestoneenergy.com.au
JOHANNESBURG
18 DECEMBER 2012
SPONSOR AND CORPORATE ADVISER SA
RIVER GROUP
Date: 18/12/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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