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EXXARO RESOURCES LIMITED - Voluntary announcement - Request for expressions of interest on disposal of non-core assets

Release Date: 20/02/2020 12:03
Code(s): EXX     PDF:  
Wrap Text
Voluntary announcement - Request for expressions of interest on disposal of non-core assets

EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN code: ZAE000084992
ADR code: EXXAY
(“Exxaro” or “the Company”)

VOLUNTARY ANNOUNCEMENT - REQUEST FOR EXPRESSIONS OF INTEREST (“EOI”) ON DISPOSAL OF NON-
CORE ASSETS

As part of its sustainable growth approach, Exxaro has conducted an internal portfolio review to evaluate and optimize
its current portfolio of coal operations and projects. Post the review the Company has undertaken a strategic decision
to dispose of its total equity interest in Exxaro Coal Central Proprietary Limited (“ECC”) and it’s Leeuwpan Coal Mine
operation (together the “Assets”), having identified the Assets as non-core to future objectives of Exxaro (the “Proposed
Transaction”).

The divestment by Exxaro of the Assets, in one single transaction, will be executed through a formal disposal process.

The Company has appointed (i) Absa Corporate & Investment Bank, a division of Absa Bank Limited and Identity
Advisory (together the “Financial Advisors”) to act as financial advisors; and (ii) CMS RM Partners to act as legal
advisors on the Proposed Transaction.

The Proposed Transaction, is a category two transaction in terms of the JSE Listings Requirements and is therefore not
regarded as material.

Exxaro invites interested parties to submit their expressions of interest to the Financial Advisors, via email at
projectGB@identityadvisory.co.za, by no later than 17h00 on 5 March 2020.

The Financial Advisors may be contacted for further information and the specific format of the EoI at:
Koshiek Karan                                    Ernest Kwinda
+27 (0) 11 895 6354                              +27 (0) 11 772 7939
+27 (0) 71 312 5435                              +27 (0) 83 411 0421
koshiek.karan@absa.africa                        ernest@identityadvisory.co.za

SE VAN LOGGERENBERG
GROUP COMPANY SECRETARY

20 February 2020

Financial Advisor and Sponsor
Absa Bank Limited, acting through its Corporate and Investment Banking Division

Financial Advisor                                         
Identity Advisory                                         

Legal Advisor
CMS RM Partners
Date: 20-02-2020 12:03:00
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