LABAT AFRICA LIMITED - Update on the acquisition of Ormin Coal Proprietary Limited and renewal of cautionary announcement
LAB 201703130036A
Update on the acquisition of Ormin Coal Proprietary Limited and renewal of cautionary announcement
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB
UPDATE ON THE ACQUISITION OF ORMIN COAL PROPRIETARY LIMITED (“ORMIN”) AND RENEWAL OF
CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on 30 January 2017 relating to the acquisition
by Labat of 51% of the issued share capital of Ormin, subject to certain conditions precedent.
Shareholders are advised that the agreement relating to the acquisition (“Acquisition Agreement”)
lapsed due to Ormin requiring more time to furnish information that is required for the completion of the
due diligence process. In the interim, the parties are interested in developing a working relationship and
may revisit negotiations in due course.
Shareholders are further referred to the cautionary announcement released on 30 January 2017 and are
advised that the Company is still in various negotiations involving, inter alia, new contracts and joint
ventures and are accordingly advised to continue to exercise caution until a further announcement is
made.
13 March 2017
Johannesburg
Sponsor
Arbor Capital Sponsors Proprietary Limited
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