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ASX Waiver from Listing Rule 14.7
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
5 February 2013
independent, Australian exploration and
development company listed on the
ASX Waiver from Listing Rule 14.7 Australian Stock Exchange Ltd (ASX) and
the Johannesburg Stock Exchange (JSE).
Further to the announcement released earlier today that first stage of Completion Firestone Energy has entered into a Joint
had taken place, the Company advises that it has received a waiver from listing rule Venture with Sekoko Resources (Pty) Ltd
14.7 from the ASX in the following terms: through which Firestone Energy has
acquired the right to 60% participation
"Based solely on the information provided, ASX Limited ("ASX") grants Firestone Energy Limited interests in the Waterberg Coal Project
(the "Company") a waiver from listing rule 14.7 to the extent necessary to permit the Company located in Lephalale area, Limpopo Province,
to issue A$39,895,000 of secured convertible notes with a conversion price of A$0.025 to South Africa.
Ariona Company SA (“New Convertible Notes”) and 300,000,000 unlisted options over the
unissued share capital of the Company, exercisable at A$0.025 and expiring 2 years after the The first stage of the project is to develop the
date of issue (“Incentive Options”) later than the 3 months after the date of the shareholders Smitspan mine which has a substantial
meeting on 5 October 2012 (the “Meeting”) at which the issue of the New Convertible Notes and measured thermal coal resource and to
Incentive Options was approved, on the following conditions: develop the Vetleegte mine which is a
substantial metallurgical coal deposit.
1.1. A first tranche of convertible notes with a value of $27,395,000 is issued by 31
January 2013. Firestone Energy is committed to becoming a
profitable independent coal and energy
1.2. A second tranche of convertible notes with a value of A$12,500,000 is issued by producer at its projects in South Africa,
28 February 2013. thereby making a substantial contribution to
the social and economic development of the
1.3. The 300,000,000 Incentive Options are issued no later than 28 February 2013. Lephalale area and South Africa.
1.4. The New Convertible Notes and Incentive Options are otherwise issued on the Corporate Details
same terms and conditions as approved by shareholders at the Meeting. ASX: FSE
JSE: FSE
1.5. The Company releases the terms of the waiver to the market immediately; and
Issued Capital:
3,114 million ordinary shares
1.6. The Company’s annual report released during the period in which the Convertible
Notes and Incentive Options are issued (that is, for the financial year ending 30 Major Shareholders:
June 2013), discloses details of the Convertible Notes and Incentive Options that Sekoko Resources (Pty) Ltd
have been issued. Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
2. ASX has considered listing rule 14.7 only and makes no statement as to the Company’s
compliance with other listing rules. " Directors and Officers
Non Executive Directors:
Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Yours sincerely, Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Officers:
David Knox Mr David Knox CEO
Chief Executive Officer Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary
www.firestoneenergy.com.au
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
Web: www.firestoneenergy.com.au
5 February 2013
Sponsor
River Group
Date: 05/02/2013 08:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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