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OPT - Optimum Coal Holdings Limited - Optimum announcement

Release Date: 09/09/2011 14:17
Code(s): OPT
Wrap Text

OPT - Optimum Coal Holdings Limited - Optimum announcement Optimum Coal Holdings Limited (Registration number: 2006/007799/06) JSE share code: OPT ISIN: ZAE000144663 ("Optimum Coal") OPTIMUM ANNOUNCEMENT Shareholders are referred to the cautionary announcements published by Optimum on 29 August 2011 and 1 September 2011, respectively. Shareholders were informed in the announcement dated 1 September 2011 that a consortium ("the Consortium") comprising Piruto BV, a wholly owned subsidiary of Glencore International AG and Lexshell 849 (Proprietary) Limited, a company wholly owned by Mr Cyril Ramaposa, has submitted a letter to the board of directors of Optimum ("the Board") advising of its interest to acquire, directly or indirectly, the majority of the issued ordinary share capital of Optimum for a cash consideration of ZAR34.00 per share ("the Proposed Offer"). Following the acquisition of certain additional Optimum shares by a member of the Consortium, the Board has been informed by the Consortium that if the Proposed Offer is made within a period of 6 months from 6 September 2011, the offer consideration will not be lower than ZAR38.00 per Optimum share. Shareholders are reminded that no Proposed Offer has been submitted to Optimum in respect of which the Board is required to make a recommendation to shareholders. If the Board receives a firm offer, it will consider its position and make a recommendation to shareholders at the appropriate time. In addition, the Board has been informed that the alternative party referred to in the cautionary announcement of 1 September 2011 has withdrawn its interest in acquiring a controlling interest in Optimum. Shareholders of Optimum are advised to continue to exercise caution when dealing in Optimum securities until a further announcement is made. 9 September 2011 Johannesburg Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 09/09/2011 14:17:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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