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SENTULA MINING LIMITED - Notification to Shareholders in respect of Interim Results release date

Release Date: 12/11/2014 16:30
Code(s): SNU     PDF:  
Wrap Text
Notification to Shareholders in respect of Interim Results release date

SENTULA MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
(“Sentula” or “the Company” or “the Group”)


NOTIFICATION TO SHAREHOLDERS IN RESPECT OF INTERIM RESULTS RELEASE DATE



Further to (and using the terms defined therein unless otherwise stated) the announcements released on
SENS on 1 August 2014, 12 September 2014 and 7 November 2014 wherein it was stated, respectively,
that the Benicon Coal Disposal had terminated and would not be implemented, that discussions in respect
of alternative options to the Benicon Coal Disposal had not led to any binding commitments and that
Sentula’s interim results were expected to be released on or about 13 November 2014, shareholders are
advised that as the proceeds of the Benicon Coal Disposal had been intended to be utilised to reduce the
Group’s senior debt, the Board is currently in the process of negotiating with the consortium of lenders
(“SBSA Consortium”) to refinance R120 million of the outstanding senior debt facility.

The SBSA Consortium has confirmed their commitment to approach their respective credit committees to
seek approval to amend certain terms of the debt facilities agreement prior to the existing maturity date of
11 February 2015 in that the remaining R120 million be settled over a two year period from 11 February
2015, with a reduction of 200 basis points in the margin rate.

As part of their solvency and liquidity test, the Board has decided to reschedule the approval of the interim
results until a more appropriate date in order to obtain certainty regarding the financial structure of the
Group.

The interim results are now expected to be released on or about 12 December 2014.



Johannesburg
12 November 2014

Sponsor
Merchantec Capital

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