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FIRESTONE ENERGY LIMITED - Firestone confirms extension of time for despatch of its Targets Statement

Release Date: 12/03/2013 09:00
Code(s): FSE FSEO1     PDF:  
Wrap Text
Firestone confirms 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 confirms extension of time for despatch of its Target’s              the Johannesburg Stock Exchange (JSE).
                                          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
          As flagged in its announcement on Friday 8 March, Firestone Energy Limited           interests in the Waterberg Coal Project
          (ASX/JSE: FSE) (the “Company” or “Firestone”) confirms that the Australian           located in Lephalale area, Limpopo Province,
          Securities and Investments Commission has granted Firestone relief to amend the      South Africa.
          timetable for despatching its Target’s Statement to Firestone shareholders. In
          accordance with the relief, the Target’s Statement in response to the proposed       The first stage of the project is to develop the
          off-market takeover offer from Range River Gold Limited (ASX: RNG) (“Offer”)         Smitspan mine which has a substantial
          must be sent to Firestone shareholders no later than Tuesday 26 March 2013. FSE      measured thermal coal resource and to
                                                                                               develop the Vetleegte mine which is a
          advises shareholders to TAKE NO ACTION on the Offer until they have received
                                                                                               substantial metallurgical coal deposit.
          and considered the Target’s Statement.
                                                                                               Firestone Energy is committed to becoming a
          As stated in the announcement on 8 March 2013, FSE has been advised by RNG           profitable independent coal and energy
          that RNG has committed to re-address the conditions of its Offer and where           producer at its projects in South Africa,
          possible, waive and/or clarify the conditions to enable FSE shareholders to better   thereby making a substantial contribution to
          understand the conditionality of the Offer and that RNG is re-evaluating the         the social and economic development of the
          quantum of the Offer.                                                                Lephalale area and South Africa.

                                                                                               Corporate Details
          All Firestone announcements are available on the Company’s website                                                        ASX: FSE
          on www.firestoneenergy.com.au and via www.asx.com.au.                                                                     JSE: FSE

                                                                                                                              Issued Capital:
          Shareholders can also receive further information on the Offer by calling the                        3,549 million ordinary shares
          Firestone shareholder information line on: 1800 643 977 or for international calls
                                                                                                                        Major Shareholders:
          +61 2 8256 3363.                                                                                       Sekoko Resources (Pty) Ltd
                                                                                                                             Linc Energy Ltd
                                                                                                                     BBY Nominees Pty Ltd
          Yours sincerely,                                                                                         Bell Potter Nominees Ltd

                                                                                                                     Directors and Officers

                                                                                                                 Non Executive Directors:
          David Knox                                                                                             Mr Tim Tebeila (Chairman)
          Chief Executive Officer                                                                          David Perkins (Deputy Chairman)
                                                                                                                            Dr Pius Kasolo
          www.firestoneenergy.com.au                                                                                        Ben Mphahlele
          Tel: Australia (+61 08 9287 4600)                                                                               Kobus Terblanche
               South Africa (+27 11 706 3548)                                                                                   Oren Zohar
                                                                                                                               Jack James

                                                                                                                                Officers:
                                                                                                            Mr David Knox CEO
           Johannesburg                                                                                     Ms Amanda Matthee CFO
           12 March 2013                                                                                    Mr Jerry Monzu Company Secretary

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






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