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FIRESTONE ENERGY LIMITED - Results Of General Meeting And Update On Financial Restructure

Release Date: 05/10/2012 07:08
Code(s): FSE     PDF:  
Wrap Text
Results Of General Meeting And Update On Financial Restructure

                                                                                    
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE  
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
                                                                                    

5 October 2012                                                                   
                                                                                    
Results of General meeting and Update on Financial Restructure                                                 
                                                                                    
Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or “FSE”) is pleased
to announce that at a General Meeting of the Company held earlier today in Perth,   
all resolutions put before members in relation to the transaction regarding the     
financial restructuring of the Company, were passed on a show of hands.             
                                                                                    
The Company will now proceed to complete all necessary actions to ensure that       
the transaction is finalised in accordance with the Investment agreement.
                                                                                    
The Company is pleased to attach the voting details of the general meeting held today.
                                                                                                                                                                                                            
Yours sincerely,                                                                                                         

David Knox                                                                                                   
                                                                                                      
Chief Executive Officer                                                                                           
www.firestoneenergy.com.au                                                                                
Tel:     Australia (+61 08 9287 4600)                                                                   
       South Africa (+27 11 706 3548)
                                                                                                          
About Firestone Energy                                                                                                                          
                                                                                                                         
Firestone Energy Limited is an independent, Australian exploration and development company 
listed on the Australian Stock Exchange Ltd (ASX) and the JSE LIMITED (JSE).                                                                                                                   

Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through 
which Firestone Energy has acquired the right to 60% participation interests in the Waterberg Coal Project located in Lephalale area, Limpopo Province, South Africa.

The first stage of the project is to develop the Smitspan mine which has a substantial
measured thermal coal resource and to develop the Vetleegte mine which is a substantial 
metallurgical coal deposit.

Firestone Energy is committed to becoming a profitable independent coal and energy
producer at its projects in South Africa, thereby making a substantial contribution to
the social and economic development of the Lephalale area and South Africa.

Corporate Details

ASX: FSE
JSE: FSE

Issued Capital: 3,114 million ordinary shares

Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd

Directors and Officers
Non Executive Directors:
Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche

Officers:
Mr David Knox CEO
Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary

Contact:
Suite B9, 431 Roberts Road, Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Web: www.firestoneenergy.com.au
                                                                                                    
                                                                                                        
Results of a General Meeting of the Company Held in Perth on 5 October 2012


The resolutions tabled at today’s general meeting of shareholders were passed on a show of hands.

In accordance with Listing Rule 3.13.2, Firestone Energy Limited announces that the resolutions put to the meeting were carried by the requisite majority.

Proxy results

In accordance with Section 251 AA of the Corporations Act 2001, Firestone Energy Limited announces the following proxy results for the General Meeting:




Resolution                                                            For                Against             At Discretion                  Abstain
     APPROVAL OF A TRANSFER OF SHARES AND
1    ACQUISITION OF RELEVANT INTEREST                                388,536,882               6,067,513               36,424,871                     154,239


     APPROVAL OF ISSUE OF NEW CONVERTIBLE
2    NOTES AND AN ISSUE OF SHARES ON                                1,528,623,979              4,767,042                6,515,462                     172,082
     CONVERSION OF NEW CONVERTIBLE NOTES

     APPROVAL OF AN ISSUE OF UNLISTED
3    INCENTIVE OPTIONS                                              1,526,916,216              6,534,931                6,515,462                     111,956

     SUBSEQUENT APPROVAL OF SHARE ISSUE
4                                                                   1,530,124,486              3,383,495                6,515,462                      55,122

     SUBSEQUENT APPROVAL OF CONVERTIBLE
5    NOTE ISSUE                                                     1,530,198,223              3,309,098                6,515,462                      55,782


Johannesburg

5 October 2012

Sponsor

River Group












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