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SAH - South African Coal Mining Holdings Limited - Further extension of
mandatory offer,Application to lift suspension,Hearing of appeal committee of
the SRP
South African Coal Mining Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009012/06
Share code : SAH ISIN : ZAE000102034
("SACMH" or "the company")
* FURTHER EXTENSION OF MANDATORY OFFER
* APPLICATION TO LIFT SUSPENSION
* HEARING OF APPEAL COMMITTEE OF THE SRP
1 FURTHER EXTENSION OF MANDATORY OFFER
Shareholders are referred to the announcement released on SENS on 6 January
2011 setting out the revised salient dates of the extended mandatory offer by
JSW Energy Natural Resources South Africa (Pty) Limited ("JSW SA") to all the
remaining shareholders of SACMH at 30 cents per share, plus a possible
additional amount per share to shareholders who accept the offer, under
circumstances set out in paragraph 3.2.3 of the offer document.
Shareholders are advised that JSW SA has decided, by agreement with the board
of SACMH and with the consent of the Securities Regulation Panel, in the light
of the fact that the offeror and companies in the Royal Bafokeng Group
currently control in excess of 90% of the issued share capital of SACMH, to
extend the closing date of the offer further until 12:00 on Friday 18 February
2011. All other terms and conditions of the offer remain unaffected.
The revised salient dates of the offer will therefore be as set out below:
As the listing of the shares is currently
suspended, there is no last day to trade for
shareholders wishing to accept the offer
consideration. However, in the event of the Friday, 11 February 2011
suspension of SACMH`s shares on the JSE being
lifted prior to the closing date of the offer,
the last day to trade will be on
Offer closes at 12:00 on Friday , 18 February 2011
Record date Friday, 18 February 2011
Results of the offer released on SENS on Monday, 21 February 2011
Results of the offer published in the press on Tuesday, 22 February 2011
Payment date See note 8 below
Notes:
1. Certificated shareholders are required to complete the forms of
acceptance, transfer and surrender in the circular and return them to the
transfer secretaries by no later than 12:00 on the closing date of the
offer.
2. Any change to the above dates and times will be agreed upon by JSW SA and
SACMH and advised to SACMH shareholders by notification on SENS and in
the South African press.
3. No dematerialisation or re-materialisation of SACMH shares will take
place between Monday, 14 February 2011 and Friday, 18 February 2011.
4. All times indicated above are South African times.
5. Offerees should note that acceptance of the offer will be irrevocable.
6. The offer consideration due to dematerialised shareholders will not be
posted to such shareholders but will be transferred, at their risk, to
their accounts with their CSDP or broker where the consideration will be
dealt with in terms of the custody agreements entered into between such
dematerialised shareholders and their CSDP`s or brokers.
7. Cheques in respect of the offer consideration due to certificated
shareholders will be posted, by registered mail, to such shareholders, at
such shareholders` risk, to their addresses reflected in the form of
acceptance, transfer and surrender, or if there is no address on the said
form, to the addresses reflected on the shareholder register.
Alternatively, the offer consideration will be electronically transferred
into a certificated shareholder`s bank account if details of such account
are available to the transfer secretaries and the certificated
shareholder concerned has entered into a mandate with the transfer
secretaries.
8. Acceptances received by the transfer secretaries before 12:00 on each
Friday between the opening date and the closing date, will be settled,
transferred or posted (as the case may be) on the following Monday. The
final settlement, transfer or posting will be on Monday, 21 February 2011
for the period ending at 12:00 on the closing date, Friday, 18 February
2011. 30 cents per share of the offer consideration will be paid as set
out above. If an additional payment becomes payable to shareholders who
accepted the offer in terms of paragraph 3.2.3 of the offer, it will be
paid not more than 6 business days after both conditions in paragraph
3.2.3 have been fulfilled.
2. APPLICATION TO LIFT SUSPENSION
The board of SACMH is in the process of considering whether to apply for
the lifting of the suspension of SACMH`s shares on the JSE.
3. HEARING OF APPEAL COMMITTEE OF SRP
SACMH was advised by the Securities Regulation Panel ("SRP") that the
appeal committee of the SRP had been constituted and that the hearing in
respect of the appropriate offer price of the offer by JSW SA to
shareholders of SACMH will commence at the offices of the SRP at
Sunnyside Office Park, 1st floor, Building B, 32 Princess of Wales
Terrace, off St. Andrews Road, Parktown at 9:00 on 26 January 2011. All
shareholders of SACMH are welcome to attend or to make written
submissions to the Appeal Committee at fax number 011 642 9284 by not
later than 25 January 2011.
20 January 2011
Johannesburg
Sponsor
Exchange Sponsors
Date: 20/01/2011 17:15:26 Supplied by www.sharenet.co.za
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