OPT
OPT
OPT - Optimum - Update regarding the Consortium`s Expression of Interest to
acquire the entire Issued Share Capital of Optimum and reminder of 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 REMINDER OF CAUTIONARY ANNOUNCEMENT
Shareholders of Optimum ("Shareholders") are referred to the announcements
released on SENS by Optimum on 17 August 2011, 26 August 2011, 1 September 2011,
9 September 2011, 13 October 2011, 16 November 2011 and 19 March 2012 in respect
of the transactions entered into by a 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
("the Consortium"), to acquire control of Optimum. Shareholders are further
referred to the announcement released by the Consortium on 27 March 2012.
The board of Optimum ("the Board") confirms that it has received a letter from
the Consortium indicating its firm intention to make a mandatory offer to
acquire all of the shares in Optimum that it does not already own or control for
an offer consideration of R38 per Optimum share ("the Offer"). The Independent
Committee of the Board is currently considering the Offer and will communicate
its views to Shareholders in due course.
Shareholders are reminded to continue to exercise caution when dealing in
Optimum shares until a further announcement is made.
www.optimumcoal.com
27 March 2012
Johannesburg
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Financial Communications Advisers
COLLEGE HILL
Date: 27/03/2012 16:37:02 Produced by the JSE SENS Department.
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