FIRESTONE ENERGY LIMITED - Request for Voluntary Suspension Firestone Energy Limited
FSE 201508070003A
Request for Voluntary Suspension – Firestone Energy Limited
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")
7 August 2015
ASX Limited
Level 40 Central Park
152 - 158 St George's Terrace
PERTH WA 6000
Attn: Ben Tippett By email: tradinghaltsperth@asx.com.au
Dear Ben
Request for Voluntary Suspension - Firestone Energy Limited
Firestone Energy Limited (FSE) hereby requests an extension to its voluntary suspension in the trading of its
securities which is due to expire pre-open on 10 Augusty 2015.
In accordance with ASX Listing Rule 17.2, FSE advises that:
a. it is seeking the extension to the voluntary suspension to allow time for its parent company, The
Waterberg Coal Company Limited (WCC), to finalise a proposed third party funding arrangement to
replace its existing funding arrangement (Facility) with Standard Bank of South Africa (SBSA),
which was due for repayment on 9 April 2015 (as announced on 17 March 2015).
b. the replacement funding represents a significant transaction and the final terms of the proposal will
impact FSE's ability to carry out its future objectives;
c. WCC has advised that completion of discussions and execution of term sheet documentation is now
imminent;
d. WCC has advised that SBSA will maintain the Facility as "on demand", rolling daily basis to give
the discussions time to progress;
e. FSE is of the view that re-instatement of trading for its securities at this time is likely to be
materially prejudicial to WCC's ability to successfully complete the complex funding transaction
contemplated which is critical to both WCC's and FSE's financial viability.
f. it expects the voluntary suspension to remain in place until the earlier of:
i. the date that it has made an announcement in respect of WCC's proposed funding
arrangement; and
ii. commencement of trade on 24 August 2015;
g. it is not aware of any reason why the securities should not be suspended; and
h. is not aware of any other information necessary to inform the market about the suspension.
Yours faithfully
E L (Lee) Boyd
Company Secretary
Firestone Energy Limited
Johannesburg
07 August
Sponsor
River Group
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