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Further Cautionary Announcement
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/001940/06)
Share code: MMH ISIN: ZAE000074019
(“Miranda” or “the Company”)
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the various cautionary announcements of the Company, the last being
13 December 2013 regarding the proposed acquisition by Miranda of the shares in Sentula Mining Limited’s
(“Sentula”) wholly owned subsidiary, Benicon Coal Proprietary Limited ("Benicon Coal"), through which it
holds a 60% interest in the mine operated by Nkomati Anthracite Proprietary Limited ("Nkomati").
Shareholders are advised that a consortium (“Consortium”) comprising of Miranda and Mochiba
Investments Proprietary Limited (“Mochiba”) have in principle agreed the key commercial terms on which the
Consortium will, inter alia, acquire all of the shares in Benicon Coal, which Proposed Transaction will have
the net effect of realising R150 million in cash for Sentula (“Proposed Transaction”).
In terms of the Proposed Transaction, it is anticipated that Sentula will realise the R150 million by way of
repayments of Nkomati's existing indebtedness to Sentula under Nkomati's existing loan facility,
R100 million once the Proposed Transaction becomes effective and the balance by way of a deferred
payment structure.
The Proposed Transaction will be subject to the conclusion of a binding legal agreement, regulatory
approvals (to the extent required), and other conditions typical for a transaction of this nature. The
Consortium and Sentula have, for the time being, agreed to negotiate exclusively with one another in order
to give effect to the Proposed Transaction and negotiations with other interested parties involving the
disposal of Sentula's interests in Benicon Coal and Nkomati have accordingly been terminated.
Mochiba is a black women owned company who has entered into a joint venture agreement with Miranda
which agreement provides for each party acquiring 50% of all the issued shares in Benicon Coal and for joint
representation on the respective boards of Benicon Coal and Nkomati. Miranda and Mochiba are well
advanced in finalising underlying agreements with respect to the funding of the transaction.
Accordingly, shareholders are advised to continue exercising caution when dealing in Miranda’s securities
until further announcements are made.
Johannesburg
29 January 2014
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 29/01/2014 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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