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OPT - Optimum Coal Holdings Limited - Optimum announcement
Optimum Coal Holdings Limited
(Registration number: 2006/007799/06)
JSE share code: OPT
ISIN: ZAE000144663
("Optimum Coal")
OPTIMUM ANNOUNCEMENT
Shareholders are referred to the cautionary announcements published by
Optimum on 29 August 2011 and 1 September 2011, respectively.
Shareholders were informed in the announcement dated 1 September 2011
that a consortium ("the Consortium") comprising Piruto BV, a wholly
owned subsidiary of Glencore International AG and Lexshell 849
(Proprietary) Limited, a company wholly owned by Mr Cyril Ramaposa,
has submitted a letter to the board of directors of Optimum ("the
Board") advising of its interest to acquire, directly or indirectly,
the majority of the issued ordinary share capital of Optimum for a
cash consideration of ZAR34.00 per share ("the Proposed Offer").
Following the acquisition of certain additional Optimum shares by a
member of the Consortium, the Board has been informed by the
Consortium that if the Proposed Offer is made within a period of 6
months from 6 September 2011, the offer consideration will not be
lower than ZAR38.00 per Optimum share.
Shareholders are reminded that no Proposed Offer has been submitted to
Optimum in respect of which the Board is required to make a
recommendation to shareholders. If the Board receives a firm offer,
it will consider its position and make a recommendation to
shareholders at the appropriate time.
In addition, the Board has been informed that the alternative party
referred to in the cautionary announcement of 1 September 2011 has
withdrawn its interest in acquiring a controlling interest in Optimum.
Shareholders of Optimum are advised to continue to exercise caution
when dealing in Optimum securities until a further announcement is
made.
9 September 2011
Johannesburg
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/09/2011 14:17:01 Produced by the JSE SENS Department.
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