FIRESTONE ENERGY LIMITED - Request for Extension of Voluntary Suspension

Request for Extension of Voluntary Suspension

Firestone Energy Limited
(Incorporated in Austaralia)
(Registration Number: ABN 058 436 794)
Share Code on the JSE: FSE
Share Code on the ASX: FSE
ISIN AU000000FSE6
(SA Company Registration Number: 2008/023973/10)

9 June 2015

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

Attn: Ben Tippett                                          By email: tradinghaltsperth@asx.com.au

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 Wednesday 10 June 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 10 July 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.
Yours faithfully




E L (Lee) Boyd
Company Secretary
Firestone Energy Limited


Johannesburg
09 May 2015
Sponsor
River Group                        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

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