THE WATERBERG COAL COMPANY LIMITED - Request to ASX for Extension to Voluntary Suspension

Request to ASX for Extension to Voluntary Suspension

The Waterberg Coal Company Limited
(Incorporated in Australia)
(Registration number ABN 64 065 480 453)
ASX: WCC | JSE: WCC | ISIN: AU000000WCC9
(“WCC” or “the Company”)

Request to ASX for Extension to Voluntary Suspension

The Company has made a request to the Australian Stock Exchange
Limited (ASX) for an extension to its current voluntary suspension
in the trading of its securities which is due to expire pre-open
on Wednesday 21 October 2015.

In accordance with ASX Listing Rule 17.2, the Company advises
that:

(a)   as announced on 17 September 2015 (Announcement), the Company
      has entered into a non-binding term sheet (Term Sheet) with
      Sibanye Gold Ltd, a South African company listed on the
      Johannesburg Stock Exchange (Sibanye), whereby, inter alia,
      Sibanye has agreed terms with The Standard Bank of South
      Africa Limited (SBSA), as facility agent, to acquire the
      Company’s existing funding facility held by SBSA (Facility);

(b)   the acquisition of the Facility by Sibanye is subject to
      completion   of  due   diligence  and   execution  of formal
      transaction documentation as per the Announcement;

(c)   the Company is seeking the extension to the voluntary
      suspension to allow time for Sibanye to finalise its due
      diligence and completion of the formal documentation;

(d)   the replacement funding and the associated  matters contemplated 
      in the Term Sheet represents a significant transaction and their 
      satisfactory completion will impact the Company's ability to carry 
      out its future objectives;

(e)   given that the conditions of the Sibanye refinancing have not
      been completed the Company is of the view that re-instatement
      of trading for its securities at this time is likely to be
      materially prejudicial to its ability to successfully
      complete the complex funding transaction contemplated which
      is critical to the Company’s financial viability.

(f)   it expects the voluntary suspension to remain in place until
      the earlier of:

      (A)   the date that it has made an announcement in respect of
            completion of the due diligence and execution of the
            formal documentation contemplated in the Term Sheet; and

      (B)   commencement of trade on 21 November 2015;

(g)   it is not aware of any reason why the securities should not
      be suspended; and

(h)   is not aware of any other information necessary to inform the
      market about the suspension.

Lee Boyd
Director
The Waterberg Coal Company Limited

20 October 2015

JSE Sponsor
The Standard Bank of South Africa Limited

Registered   office:
Level 2, 1   Walker Avenue West Perth, Western Australia 6005
Australia
Tel: +61 8   9485 0888
Fax: +61 8   9485 0077

South African office:
Level 1, The Place,
1 Sandton Dr
Sandton, 2146
South Africa
Tel: +27 10 594 2240
Fax: +27 10 594 2253

Contact:
Mr Stephen Miller
Executive Director/ Managing Director
or
Investor relations in South Africa:
Lawrie Mackintosh
Tel: +27 10 594 2240
E-mail: info@waterbergcoal.com.au

Directors:

Dr Mathews Phosa
(Chairman)

Stephen Miller
(Executive Director and Managing Director)

Lee Boyd
(Director and Company Secretary)

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