FIRESTONE ENERGY LIMITED - Request for Voluntary Suspension Firestone Energy Limited

Request for Voluntary Suspension – Firestone Energy Limited

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")

18 September 2015
ASX Limited
Level 40 Central Park
152 – 158 St George’s Terrace
PERTH WA 6000

Attn: Ben Tippett
Dear Ben

Request for Voluntary Suspension – Firestone Energy Limited

Firestone Energy Limited (FSE) hereby requests an extension to its voluntary suspension in the trading of its
securities which is due to expire pre-open on 21 September 2015.

In accordance with ASX Listing Rule 17.2, FSE advises that:
(a)    as announced on 17 September 2015 (Announcement), FSE and its parent company The Waterberg Coal
       Company Limited (WCC) have entered into a non-binding term sheet (Term Sheet) with Sibanye Gold
       Ltd, a South African company listed on the Johannesburg Stock Exchange (Sibanye), whereby, inter alia,
       Sibanye has agreed terms with Standard Bank of South Africa (SBSA), as facility agent, to acquire WCC’s
       existing funding facility held by SBSA (Facility);
(b)    the acquisition of the Facility by Sibanye is subject to completion of due diligence and execution of formal
       transaction documentation as per the Announcement;
(c)    the FSE is seeking the extension to the voluntary suspension to allow time for Sibanye to finalise its due
       diligence and completion of the formal documentation;
(d)    WCC’s replacement funding and the associated matters contemplated in the Term Sheet represents a
       significant transaction and their satisfactory completion will impact FSE’s ability to carry out its future
       objectives;
(e)    given that the conditions of the Sibanye refinancing of WCC have not been completed the FSE is of the
       view that re-instatement of trading for its securities at this time is likely to be materially prejudicial to
       WCC’s ability to successfully complete the complex funding transaction contemplated which is critical to
       the FSE’s financial viability.
(f)    it expects the voluntary suspension to remain in place until the earlier of:
       (i)         the date that it has made an announcement in respect of completion of the due diligence and
                     execution of the formal documentation contemplated in the Term Sheet; and
       (ii)        commencement of trade on 21 October 2015;
(g)    it is not aware of any reason why the securities should not be suspended; and
(h)    is not aware of any other information necessary to inform the market about the suspension.
                                      
                                             
Yours faithfully

E L (Lee) Boyd
Company Secretary
Firestone Energy Limited

18 September 2015
Johannesburg
Sponsor
River Group




                                     Firestone Energy Limited (ABN 71 058 436 794)
          Level 2, 1 Walker Avenue, West Perth, Western Australia 6005 PO Box 8136, Subiaco East, Western Australia 6008
                                              T: +61 8 9485 0888 F: +61 8 9485 0077

Date: 18/09/2015 08:56:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.