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SAH - South African Coal Mining Holdings Limited - Court order re mandatory

Release Date: 02/12/2011 13:37
Code(s): SAH
Wrap Text

SAH - South African Coal Mining Holdings Limited - Court order re mandatory offer price 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") COURT ORDER RE MANDATORY OFFER PRICE Shareholders are referred to the SENS announcement released on 7 November 2011. JSW Energy Limited ("JSW" or "the applicant") applied to the South Gauteng High Court for an order to review and set aside the following Rulings of the Appeal Committee of the Securities Regulation Panel of 4 April 2011: (a) that the comparable price to be offered by the applicant to minority shareholders of SACMH is 38,6 cents per share; (b) that the applicant pay the costs of the appeal to the Appeal Committee. On 22 November 2011 the South Gauteng High Court in an unopposed hearing granted JSW`s application and issued an order declaring that the comparable price to be offered to the minority shareholders of SACMH was 30 cents per share. The mandatory offer was made at such price, the offer opened on 29 November 2010 and closed on 18 February 2011. In the light of the Court Order the Takeover Regulation Panel has confirmed that JSW has complied with all its obligations in terms of the offer. 2 December 2011 Johannesburg Sponsor Exchange Sponsors Date: 02/12/2011 13:37:10 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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