| Mon 19 Mar 2012, 9:37 | | OPT - Optimum - Update regarding the Consortium`s Expression of Interest to |
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OPT
OPT
OPT - Optimum - Update regarding the Consortium`s Expression of Interest to
acquire the entire Issued Share Capital of Optimum and Cautionary Announcement
Optimum Coal Holdings Limited
(Registration number: 2006/007799/06)
JSE share code: OPT
ISIN: ZAE000144663
("Optimum")
UPDATE REGARDING THE CONSORTIUM`S EXPRESSION OF INTEREST TO ACQUIRE THE ENTIRE
ISSUED SHARE CAPITAL OF OPTIMUM AND CAUTIONARY ANNOUNCEMENT
Shareholders of Optimum ("Shareholders") are referred to the announcements
published by Optimum on 17 August 2011, 26 August 2011, 1 September 2011, 9
September 2011, 13 October 2011 and 16 November 2011 in respect of the
transactions entered into by a consortium ("the Consortium") comprising of
Piruto B.V, a wholly-owned subsidiary of Glencore International AG, and Lexshell
849 Investments (Proprietary) Limited, a company wholly-owned by Mr Cyril
Ramaphosa, to acquire control of Optimum.
The Board of Optimum understands that the Consortium has now received
conditional approval from the Competition Authorities for the transactions
already entered into. Once these transactions have been implemented, and in
compliance with its obligations under the Companies Act, 71 of 2008, as amended,
and the Takeover Regulations, the Consortium will be obliged to make a mandatory
offer ("the Mandatory Offer") to the remaining Shareholders to acquire their
shares in Optimum at a price not less than R38 per Optimum share.
Further developments will be communicated to Shareholders once the Consortium
has formally informed the Board of its intention to make the Mandatory Offer.
Shareholders are advised to exercise caution when dealing in Optimum shares
until a further announcement is made.
www.optimumcoal.com
19 March 2012
Johannesburg
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Financial Communications Advisers
COLLEGE HILL
Date: 19/03/2012 09:37:12 Produced by the JSE SENS Department.
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