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OPT - Optimum Coal - 2010 Koornfontein Acquisition
Optimum Coal Holdings Limited
(formerly known as Optimum Coal Holdings (Proprietary) Limited)
(incorporated in the Republic of South Africa)
(Registration Number: 2006/007799/06)
JSE share code: OPT & ISIN: ZAE000144663
("Optimum Coal" or "the company")
2010 KOORNFONTEIN ACQUISITION
Shareholders are advised that on 12 February 2010 Optimum Coal (the "Company")
entered into a transaction with Sentula Mining Limited ("Sentula") in respect of
the purchase by the Company of 49,998 ordinary shares in the issued share
capital of Siyanda Coal (Proprietary) Limited the owner of Koornfontein Mines
("Koornfontein"), constituting 49.998% of the entire issued share capital of
Koornfontein and all of the claims of Sentula against Koornfontein, for a
purchase consideration of R670 million (the "2010 Koornfontein Acquisition").
In this regard, shareholders are advised that the 2010 Koornfontein Acquisition
was approved by Sentula shareholders in a general meeting held on 30 March 2010
and accordingly all closing conditions have been met.
Optimum Coal CEO, Mike Teke said: "We are delighted to have now completed all
transactions resulting in Optimum Coal owning 91% of Koornfontein."
Johannesburg
31 March 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Financial Communications Advisers
COLLEGE HILL
Date: 31/03/2010 13:33:01 Produced by the JSE SENS Department.
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