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FIRESTONE ENERGY LIMITED - Request for Voluntary Suspension Firestone Energy Limited

Release Date: 20/11/2015 09:42
Code(s): FSE     PDF:  
Wrap Text
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
FSE01 - ISIN: AU00000FSE02
(SA company registration number 2008/023973/10)
("FSE" or "the Company")

Request for Voluntary Suspension - Firestone Energy Limited

20 November 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 Monday 23 November 2015.
In accordance with ASX Listing Rule 17.2, FSE advises that:
*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);
*the acquisition of the Facility by Sibanye is subject to completion of due diligence and execution of formal 
transaction documentation as per the Announcement;
*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;
*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;
*given that the conditions of the Sibanye refinancing of WCC have not been completed 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.
*it expects the voluntary suspension to remain in place until the earlier of:
-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 
-commencement of trade on 21 December 2015;
*it is not aware of any reason why the securities should not be suspended; and
*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

20 November 2015
Johannesburg
Sponsor
River Group



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