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FIRESTONE ENERGY LIMITED - Expiry Of Options

Release Date: 20/05/2014 08:05
Code(s): FSE     PDF:  
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Expiry Of Options

FIRESTONE ENERGY LIMITED
(INCORPORATED IN AUSTRALIA)
REGISTRATION NUMBER: ABN 058 436 794
SHARE CODE JSE: FSE
SHARE CODE ASX: FSE
ISIN: AU000000FSE6
SA COMPANY REGISTRATION NUMBER 2008/023973/01
("FSE" OR "the Company")                                                                                          ABN 58 008 130 336
                                                                                                 About Firestone Energy
                                                                                                                       Suite 605, Level 6
                                                                                                 Firestone Energy Limited is an independent,
                                                                                                                       50 Clarence Street
                                                                                                 Australian exploration and development
                                                                                                                      Sydney NSW, Stock
                                                                                                 company listed on the Australian 2000
                                                                                                 Exchange Ltd (ASX) and the Johannesburg
                                                                                                             Phone: +61 2 9299 9580
                                                                                                 Stock Exchange (JSE). Firestone Energy has
                                                                                                                 Fax: Venture with 9501
                                                                                                 entered into a Joint +61 2 9299Sekoko
                                                                                                 Resources (Pty) Ltd through which Firestone
19 May 2014                                                                                      Energy has acquired the right to 60%
                                                                                                 participation interests in the Waterberg Coal
                                                                                                 Project located in Lephalale area, Limpopo
                                                                                                 Province, South Africa.
                                EXPIRY OF OPTIONS
                                                                                                 The first stage of the project is to develop the
The listed Firestone Energy Limited (‘FSE’) Options (ASX code: FSEO) numbering
                                                                                                 Smitspan mine which has a substantial
48,395,000 and convertible into one ordinary fully paid FSE share on the payment of 4
                                                                                                 measured thermal coal resource and to
cents, expire on 31 May 2014. The Options have not traded in the last 9 months. The
                                                                                                 develop the Vetleegte mine which is a
option exercise price is $0.04 and the underlying securities have traded at $0.001 in the
                                                                                                 substantial metallurgical coal deposit.
last 12 months. FSE has not sent individual notices (as required by Appendix 6A) to option
holders regarding the expiry of the options. FSE does not expect any options holders to
exercise these options before expiry.                                                            Firestone Energy is committed to becoming a
                                                                                                 profitable independent coal and energy
Below is information required under Appendix 6A – clause 6.1 (a) to (j) to be supplied to        producer at its projects in South Africa,
Option holders                                                                                   thereby making a substantial contribution to
                                                                                                 the social and economic development of the
(a)      The name of the holder of the +convertible securities.                                  Lephalale area and South Africa.


(b)      The number of +convertible securities held, and the number of +securities to be         Corporate Details
                                                                                                                                      ASX: FSE
         issued on their conversion.                                                                                                  JSE: FSE

         In total – 43,395,000 listed options – 1 option converts to 1 ordinary fully paid                                       Issued Capital:
         share on the payment of the exercise price of $0.04.                                                     3,549 million ordinary shares

                                                                                                                         Major Shareholder:
(c)      The conversion or exercise price. - Exercise price - $0.04.
                                                                                                            The Waterberg Coal Company Ltd

(d)      In the case of options, the date due date for payment. – by 31 May 2014.                                      Directors and Officers

(e)      In the case of options, the consequences of non-payment and, in the case                                 Non Executive Directors:
         of other +convertible securities, the consequences of not exercising the right                            George Oupa Magashula
                                                                                                                                  Lee Boyd
         of conversion. – if the option’s (ASX code: FSEO) are not exercised by 31 May                                            Officers:
         2014, they will lapse and any right to acquire an ordinary share by payment of                 Mr Stephen Miller CEO and Executive
         the exercise price ceases.                                                                                                Director
                                                                                                                  Ms Amanda Matthee CFO
(f)      The date that +quotation of the +convertible securities will end (which is 5
         +business days before the expiry date for options or final conversion date for
                                                                                                                                     Contact:
         other +convertible securities, unless there is a later maturity date). – quotation of          Level1, 330 Churchill Avenue Subiaco
         the options will cease 23 May 2014.                                                                          Western Australia 6008
                                                                                                                     Tel: +61 (08) 9200 4465
                                                                                                                      Fax:+61(08) 9200 4469
                                                                                                           Web: www.firestoneenergy.com.au
 (g)        The latest available +market price of the +underlying securities. – Firestone Energy Limited
            Ordinary shares (ASX code: FSE) closed 19 May 2014 at $0.006.

 (h)        The highest and lowest +market price of the +underlying securities during the 3 months
            immediately before the notice is issued, and the dates of those sales. – FSE’s closing price
            since 19 February 2014 has been in the range of $0.006 to a high of $0.008

 (i)        The information required by (g), (h) and (j) in respect of all quoted +securities that would be, if
            fully paid, in the same class as the +underlying securities. – n/a


 (j)        In case of options, the details of any underwriting agreement notified under rule 3.11.3. – n/a




 Stephen W Miller
 CEO
 Firestone Energy Limited
 www.firestoneenergy.com.au
 Tel: Australia (+61 08 9287 4600)
      South Africa (+27 11 706 3548)

Johannesburg
20 May 2014
Sponsor
River Group

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