FIRESTONE ENERGY LIMITED - Request for Voluntary Suspension Firestone Energy Limited

Request for Voluntary Suspension – Firestone Energy Limited

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
FSE01 – ISIN: AU00000FSE02
(SA company registration number 2008/023973/10)
("FSE" or "the Company")

Request for Voluntary Suspension – Firestone Energy Limited


ASX Limited
Level 40 Central Park
152 – 158 St George’s Terrace
PERTH WA 6000

Attn: Ben Tippett            By email

Dear Ben
Request for Voluntary Suspension – Firestone Energy Limited
Firestone Energy Limited (FSE) hereby requests an extension to its voluntary suspension in the trading
of its securities which is due to expire pre-open on 24 August 2015.
In accordance with ASX Listing Rule 17.2, FSE advises that:
(a)      it is seeking the extension to the voluntary suspension to allow time for its parent company, The
         Waterberg Coal Company Limited (WCC), to finalise a proposed third party funding
         arrangement to replace its existing funding arrangement (Facility) with Standard Bank of South
         Africa (SBSA), which was due for repayment on 9 April 2015 (as announced on 17 March
         2015). The completion of discussions and documentation for the replacement funding represents
         a significant transaction and the final terms of the proposal will impact FSE's ability to carry out
         its future objectives;
(b)      WCC has advised that SBSA will maintain the Facility as “on demand”, rolling daily basis to
         give the discussions time to progress;
(c)      FSE is of the view that re-instatement of trading for its securities at this time is likely to be materially
        prejudicial to WCC’s ability to successfully complete the complex funding transaction contemplated
        which is critical to both WCC’s and FSE’s financial viability.
(d)     it expects the voluntary suspension to remain in place until the earlier of:
        (i)        the date that it has made an announcement in respect of WCC’s proposed funding
                   arrangement; and
        (ii)       commencement of trade on 7 September 2015;
(e)     it is not aware of any reason why the securities should not be suspended; and
(f)     is not aware of any other information necessary to inform the market about the suspension.
                                 Firestone Energy Limited (ABN 71 058 436 794)
                       Registered Office: Level 2, 1 Walker Avenue, West Perth, Western Australia 6005
                            Postal Address: PO Box 8136, Subiaco East, Western Australia 6008
                                         T: +61 8 9485 0888 F: +61 8 9485 0077
Yours faithfully




E L (Lee) Boyd
Company Secretary
Firestone Energy Limited

21 August 2015
Johannesburg
Sponsor
River Group




                             

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