| Tue 21 Jun 2011, 12:33 | | KEH - Keaton Energy Holdings Limited - Results of general meeting |
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KEH
KEH
KEH - Keaton Energy Holdings Limited - Results of general meeting
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
Share code: KEH ISIN: ZAE000117420
("Keaton Energy" or "the Company")
Results of general meeting
Keaton Energy shareholders are advised that, at the general meeting of the
Company held at Ground Floor, Eland House, The Braes, 3 Eaton Road, Bryanston
today, the ordinary resolutions relating to:
* the authority to be granted by Keaton Energy shareholders to place 16 622
222 authorised but unissued shares in the share capital of the Company at
the disposal and under the control of the directors, with specific
authority to the directors to allot and issue such shares in order to give
effect to and implement the acquisition by Keaton Energy of 64% of the
ordinary issued shares in Leeuw Mining and Exploration (Proprietary)
Limited;
* the amendments to the Keaton Energy Holdings Long-Term Performance
Incentive Scheme; and
* a general authority authorising the directors of Keaton Energy to allot and
issue a further 5% of the issued share capital of Keaton Energy for cash in
terms of the JSE Limited Listings Requirements,
were passed by the requisite majority of shareholders present or represented by
proxy.
Vanggatfontein Project Update
Following the announcement released on SENS on 2 June 2011 regarding, inter
alia, the incident in which the support structure for one of the Dense Medium
Separation unit feed bins failed during pre-commissioning("the incident"),
Keaton Energy shareholders are advised that a mitigation plan has been
implemented which has allowed production to resume while the structure is being
rehabilitated. The first Eskom coal stockpile has been prepared and coal
deliveries are expected to begin as soon as all quality management procedures
have been completed.
As a result of the incident and after consultation with the Company`s auditors,
the audited results for the year ended 31 March 2011 ("the results"), which were
expected to be published on or about 9 June 2011, were delayed. The results are
now expected to be published on SENS and on Keaton Energy`s website,
www.keatonenergy.co.za on or about Wednesday, 22 June 2011.
Bryanston
21 June 2011
Investment bank and sponsor
Nedbank Capital
Date: 21/06/2011 12:33:01 Produced by the JSE SENS Department.
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