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Major Shareholder Rejects RNG Takeover 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
11 April 2013
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
Major Shareholder Rejects RNG Takeover Offer the Johannesburg Stock Exchange (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,
The Board of Firestone Energy Limited (ASX/JSE: FSE) (“Firestone” or the South Africa.
“Company”) welcomes feedback from BBY Nominees Pty Ltd (“BBY Nominees”)
The first stage of the project is to develop
indicating its intention to reject the takeover Offer of Firestone by
the Smitspan mine which has a substantial
Range River Gold (“RNG”).
measured thermal coal resource and to
develop the Vetleegte mine which is a
BBY Nominees on behalf of its clients is a significant shareholder in Firestone, substantial metallurgical coal deposit.
holding 16.9% of the Ordinary Shares on Issue. BBY Nominees on behalf of its
clients is also the major holder of convertible notes issued by Firestone. Firestone Energy is committed to becoming a
profitable independent coal and energy
Commenting on intentions of BBY Nominees, David Knox, CEO of Firestone said producer at its projects in South Africa,
“We welcome the support of BBY Nominees in rejecting the takeover Offer. We thereby making a substantial contribution to
the social and economic development of the
believe that the Offer is inadequate and opportunistic and does not provide
Lephalale area and South Africa.
Firestone shareholders with appropriate value for their shares. We look forward
to the support of other retail shareholders and other major shareholders.” Corporate Details
ASX: FSE
JSE: FSE
Your Board recommends that Firestone Shareholders REJECT the RNG Offer.
Issued Capital:
To reject the Offer, Firestone Shareholders should simply take no action in 3,549 million ordinary shares
relation to the Offer or any communication from RNG. Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
All Firestone announcements are available on the Company’s website BBY Nominees Pty Ltd
on www.firestoneenergy.com.au and via www.asx.com.au. Bell Potter Nominees Ltd
Directors and Officers
Shareholders can also receive further information on the Offer by calling the
Firestone shareholder information line on: 1800 643 977 or for international Non Executive Directors:
calls +61 2 8256 3363. Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Dr Pius Kasolo
Yours sincerely, Ben Mphahlele
Kobus Terblanche
Oren Zohar
Jack James
David Knox Officers:
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
Tel: +61 (08) 9287 4600
BBY NOMINEES PTY LTD
ACN 007 001 443
Registered Office: Level 17, 60 Margaret Street, Sydney NSW 2000
The Board of Directors
Firestone Energy Limited
Suite B9, 431 Roberts Rd.,
Subiaco,, WA 6008
Attention:
Tim Tebeila – Chairman
David Knox – Chief Executive e Officer
FOR PUBLIC ANNOUNCEMENT
Dear Sirs,
We have reviewed the takeover offer (“Offer”) made by Range River Gold (“RNG”) for all of the
shares in issue in Firestone Energy Limited (“FSE”) including RNG’s Bidder’s Statement issued on 30
January 2013 and supplementary Bidder’s Statements issued on 19 March 2013 and 27 March 2013 respectively .
We agree with the Board’s assessment of the Offer and support its continued recommendation to
reject RNG’s Offer. We confirm that we will not be accepting the Offer as currently presented to FSE
shareholders.
We believe that FSE is in the best position to advance the development and future production of the
Waterberg Coal Project.
Sincerely,
BBY Nominees Pty Limited
Arun Maharaj
12 April
Johannesburg
Sponsor
River Group
Date: 12/04/2013 07:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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