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FIRESTONE ENERGY LIMITED - Firestone reiterates take no action following further extension of time for despatch of its Targets Statement

Release Date: 08/03/2013 09:03
Code(s): FSE     PDF:  
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Firestone reiterates take no action following further extension of time for despatch of its Target’s Statement

                                                                                               About Firestone Energy

                                                                                               Firestone Energy Limited is an
          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")

                                                                                               independent, Australian exploration and
                                                                                               development company listed on the
                                                                                               Australian Stock Exchange Ltd (ASX) and
          Firestone reiterates take no action following further extension of time for          the Johannesburg Stock Exchange (JSE).
                              despatch of its Target’s Statement                               Firestone Energy has entered into a Joint
                                                                                               Venture with Sekoko Resources (Pty) Ltd
                                                                                               through which Firestone Energy has
                                                                                               acquired the right to 60% participation
          Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or “Firestone”) has           interests in the Waterberg Coal Project
          reaffirmed its advice to shareholders to TAKE NO ACTION on the proposed off-         located in Lephalale area, Limpopo Province,
          market takeover offer from Range River Gold Limited (ASX: RNG) (“Offer”) until       South Africa.
          they have received and considered the Target’s Statement.
                                                                                               The first stage of the project is to develop the
          Firestone advises that the Australian Securities and Investments Commission will     Smitspan mine which has a substantial
          grant Firestone relief to amend the timetable for despatching its Target’s           measured thermal coal resource and to
                                                                                               develop the Vetleegte mine which is a
          Statement to Firestone shareholders. The formal instrument of relief is expected
                                                                                               substantial metallurgical coal deposit.
          to be issued on Monday 11 March 2013. In accordance with the relief, the
          Target’s Statement in response to the Offer must now be sent to Firestone            Firestone Energy is committed to becoming a
          shareholders no later than Tuesday 26 March 2013, under the revised statutory        profitable independent coal and energy
          timetable.                                                                           producer at its projects in South Africa,
                                                                                               thereby making a substantial contribution to
          FSE has been advised by RNG that RNG has committed to re-address the                 the social and economic development of the
          conditions of its Offer and where possible, waive and/or clarify the conditions to   Lephalale area and South Africa.
          enable FSE shareholders to better understand the conditionality of the Offer and     Corporate Details
          that RNG is re-evaluating the quantum of the Offer.                                                                       ASX: FSE
                                                                                                                                    JSE: FSE
          All Firestone announcements are available on the Company’s website                                                   Issued Capital:
          on www.firestoneenergy.com.au and via www.asx.com.au.                                                 3,549 million ordinary shares

                                                                                                                        Major Shareholders:
          Shareholders can also receive further information on the Offer by calling the                          Sekoko Resources (Pty) Ltd
          Firestone shareholder information line on: 1800 643 977 or for international calls                                 Linc Energy Ltd
                                                                                                                     BBY Nominees Pty Ltd
          +61 2 8256 3363.                                                                                         Bell Potter Nominees Ltd

          Yours sincerely,                                                                                           Directors and Officers

                                                                                                                 Non Executive Directors:
                                                                                                                 Mr Tim Tebeila (Chairman)
                                                                                                           David Perkins (Deputy Chairman)
                                                                                                                             Dr Pius Kasolo
          David Knox                                                                                                        Ben Mphahlele
          Chief Executive Officer                                                                                         Kobus Terblanche
          www.firestoneenergy.com.au                                                                                            Oren Zohar
                                                                                                                                Jack James
          Tel: Australia (+61 08 9287 4600)
               South Africa (+27 11 706 3548)                                                                                   Officers:
                                                                                                                      Mr David Knox CEO
           Johannesburg                                                                                                  Ms Amanda Matthee CFO
           8 March 2013                                                                                        Mr Jerry Monzu Company Secretary


           Sponsor                                                                                          Contact:
           River Group                                                                                      Suite B9, 431 Roberts Road
                                                                                                            Subiaco, Western Australia 6008
                                                                                                                    Tel: +61 (08) 9287 4600






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