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Shareholder Update Regarding the Range River Offer
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
4 February 2013
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
Firestone advises shareholders to take no action following lodgement of the Johannesburg Stock Exchange (JSE).
the Bidder’s Statement by Range River Gold Limited Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd
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”) has reaffirmed its advice to shareholders to TAKE NO ACTION on the located in Lephalale area, Limpopo Province,
proposed takeover bid from Range River Gold Limited (ASX: RNG) (“Range River”) South Africa.
following receipt of the Bidder’s Statement on 30 January 2013.
The first stage of the project is to develop the
On 17 December 2012 Range River announced an unsolicited, conditional Smitspan mine which has a substantial
proposal to acquire all of the ordinary shares in Firestone by way of an off market measured thermal coal resource and to
develop the Vetleegte mine which is a
takeover offer. In summary, under the Range River offer Firestone shareholders
substantial metallurgical coal deposit.
will be offered one (1) Range River share for every two (2) Firestone shares
(“Offer”). Firestone Energy is committed to becoming a
profitable independent coal and energy
The Firestone Board will review the Bidder’s Statement and respond formally producer at its projects in South Africa,
through a Target’s Statement in due course. Until the Firestone Board provides thereby making a substantial contribution to
Firestone shareholders with a formal recommendation we advise all Firestone the social and economic development of the
shareholders to TAKE NO ACTION. Lephalale area and South Africa.
Corporate Details
In assessing the Offer, or any alternative proposals, the Firestone Board will focus ASX: FSE
on maximising Firestone shareholder value. JSE: FSE
Issued Capital:
A copy of the Bidder’s Statement is expected to be sent to Firestone shareholders 3,114 million ordinary shares
by Range River in the coming weeks, after which the Offer will be required to
Major Shareholders:
remain open for at least one month. The Bidder’s Statement is not a Firestone Sekoko Resources (Pty) Ltd
document. Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
The Firestone Board will keep Firestone shareholders fully informed of further
developments as they occur and will provide a formal recommendation on the Directors and Officers
Offer in ample time for Firestone shareholders to make an informed decision. Non Executive Directors:
Mr Tim Tebeila (Chairman)
Yours sincerely, David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Officers:
David Knox Mr David Knox CEO
Chief Executive Officer Ms Amanda Matthee CFO
www.firestoneenergy.com.au Mr Jerry Monzu Company Secretary
Tel: Australia (+61 08 9287 4600)
South Africa (+27 11 706 3548) Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
04 February 2013
Sponsor
River Group
Date: 04/02/2013 10:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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