KEATON ENERGY HOLDINGS LIMITED - Keaton concludes R350 million financing with Investec Bank Limited

Keaton concludes R350 million financing with Investec Bank Limited

Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE code: KEH & ISIN: ZAE000117420
("Keaton" or "the Company")


Keaton concludes R350 million financing with Investec Bank Limited

Keaton shareholders are advised that the Company has concluded a financing facility with Investec
Bank Limited (“Investec”) whereby Investec has provided Keaton with a R300 million term loan and a
R50 million working capital facility.

-   R170 million of the term loan has been used to retire the remaining balance of the project
    finance facility advanced by Nedbank in 2011 for the construction of the Vanggatfontein coal
    washing plant and ancillary facilities.
-   R130 million of the term loan is to be applied as part of the purchase consideration for Xceed
    Resources Limited as advised in the SENS announcement of 20 November 2013.
-   The working capital facility of R50 million is available for general purposes.

Mandi Glad, Keaton’s CEO, said “We are pleased to have concluded this important financing at a
time when Keaton is in a strong growth phase. We will conclude the Xceed acquisition on an all-cash
basis as announced previously and, importantly, the replacement of the Vanggatfontein project
finance debt with a term loan provides us not only with greater financial flexibility within the Keaton
group but also reduces our cost of capital. In addition, the availability of a further R50 million
facility, coupled with our growing cash reserves, positions Keaton to take advantage of any
opportunities that may arise in the market.”

Johannesburg
10 February 2014

Sponsor
Nedbank Capital

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