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FSE
FSE
FSE - Firestone Energy Limited - Finance Facility
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
Finance Facility
The Board of Firestone Energy Limited (ASX/JSE: FSE) ("Firestone" or the
"Company") wishes to advise shareholders that Firestone has entered into a
conditional, short-term finance facility.
The facility limit is $2.2 million. Funding is available by monthly instalments
against an issue of shares pursuant to a Share Purchase Agreement which will be
documented by the end of this month.
The facility is for general corporate purposes to provide working capital to the
Company pending execution of the revised Eskom MoU and while it is negotiating
the offer recently received from Tata Power. The proceeds will not be used to
repay existing indebtedness or for other payments to security holders.
The facility is being provided by holders of the Company`s Convertible Notes.
Yours sincerely,
David Knox
Chief Executive Officer
www.firestoneenergy.com.au
About Firestone Energy
Firestone Energy Limited is an independent, Australian exploration and
development company listed on the Australian Stock Exchange Ltd (ASX) and the
Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has
acquired the right to 60% participation interests in the Waterberg Coal Project
located in Lephalale area, Limpopo Province, South Africa.
The first stage of the project is to develop the Smitspan mine which has a
substantial measured thermal coal resource and to develop the Vetleegte mine
which is a substantial metallurgical coal deposit.
Firestone Energy is committed to becoming a profitable independent coal and
energy producer at its projects in South Africa, thereby making a substantial
contribution to the social and economic development of the Lephalale area and
South Africa.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
3,114 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
Directors and Officers
Non Executive Directors:
Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Officers:
Mr David Knox CEO
Mr Jerry Monzu Company Secretary
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Web: www.firestoneenergy.com.au
Pretoria
22 March 2012
Sponsor
River Group
Date: 22/03/2012 08:22:01 Produced by the JSE SENS Department.
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