THE WATERBERG COAL COMPANY LTD - Further Cautionary Announcement and Update on Voluntary Suspension

Further Cautionary Announcement and Update on 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”)

Further Cautionary Announcement and Update on Voluntary Suspension

The Waterberg Coal Company Limited (Company) hereby requests an
extension to its current voluntary suspension in the trading of its
securities which is due to expire pre-open on Monday, 21 September
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 October 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.

Stephen Miller
Director & CEO
The Waterberg Coal Company Limited
18 September 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/CEO
Tel: +27 10 594 2240 or +61 8 9385 0888
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 CEO)
Lee Boyd (Director and Company Secretary)

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