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FSE
FSE
FSE - FSE - Revised Financing Structure to Progress Waterberg
Project
FIRESTONE ENERGY LIMITED
(Registration number: ABN 058 436 794)
(SA company registration number: 200/023973/10
Share code on the JSE: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
("FSE" or "the Company")
Revised Financing Structure to Progress Waterberg Project
Firestone Energy Limited (ASX/JSE: FSE) wishes to announce that in
the context of continuing volatile market conditions, it has
decided to make the following amendments to the Convertible
Note Deed Poll entered into in September 2009. The
amendment is intended to position the Company to be better
able to attract investors to rapidly progress FSE`s
Waterberg project and allow the Company to undertake its
stated objectives. Further, the Company has agreed with BBY
Limited to amend the terms of the Underwriting Agreement of
the Convertible Note Deed Poll.
The pricing of the securities to be issued by FSE pursuant to
subscription payments made after 13 July 2010, upon
conversion of convertible notes will be the higher of:
(a) a 7.5% discount to the 5 day VWAP up to but not including
the date upon which the note is issued by the issuer; and
(b) A$0.02c per FSE share issued
* Convertible Notes issued after 4 June 2010 shall be in
denominations of A$500k or A$100k at the election of the
subscriber.
* Convertible notes may be converted monthly.
Further information can be obtained by contacting the persons below
on
+61 (08) 9381-2755.
John Dreyer Jerry Monzu
Chairman Company Secretary
www.firestoneenergy.com.au
About Firestone Energy
Firestone Energy is an independent Australian exploration
company focused on developing coal projects in South Africa.
The company is currently exploring the richly endowed
Waterberg coal field in the Limpopo Province of South
Africa. The Company is committed to value-added growth
through becoming an independent coal and energy producer at
its projects in South Africa. The Company has entered into
three joint ventures with Sekoko Resources, a South African
black empowerment company (BEE) and Sekoko has two directors
on the Board of Firestone Energy.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
2,331 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
Colbern Fiduciary Nominees Ltd
Bell Potter Nominees Ltd
Directors and Officers:
Non Executive Directors:
John Dreyer (Chairman)
Timothy Tebeila (Deputy Chairman)
Amanda Matthee
Colin McIntyre
Managing Director
John Wallington
Company Secretary
Jerry Monzu
Contact:
Level 1, 63 Hay Street
Subiaco, Western Australia 6008
Tel: +61 (0)8 9381 2755
Web: www.firestoneenergy.com.au
Company secretary
Pretoria
23 August 2010
Sponsor
River Group
Date: 23/08/2010 09:27:05 Produced by the JSE SENS Department.
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