REG - MC Mining Limited - Supplementary Target's Statement - DO NOT ACCEPT

MC MiningAnnouncement

18/03/2024 07:45

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RNS Number : 2112H  MC Mining Limited  18 March 2024

ANNOUNCEMENT
                               18 March 2024

 

SUPPLEMENTARY TARGET'S STATEMENT IN RESPONSE TO THE OFF-MARKET TAKEOVER BID -
DO NOT ACCEPT

 

MC Mining Limited (ASX: MCM) (MC Mining or the Company) advises that it has
released its Supplementary Target's Statement (with the accompanying
Independent's Expert Report) in response to the A$0.16 cash per share
off-market takeover bid by Goldway Capital Investment Limited (Takeover
Offer).

The Supplementary Target's Statement contains the Independent Expert's Report
prepared by BDO Corporate Finance (WA) Pty Ltd ACN 124 031 045 (BDO) as
Independent Expert. The Independent Expert concluded that the Takeover Offer
is neither fair nor reasonable to Shareholders.

The Independent Board Committee (IBC) continues to unanimously recommend that
Shareholders DO NOT ACCEPT the Takeover Offer.

A copy of the Supplementary Target's Statement, including the Independent
Expert's Report is available on the ASX website, www.asx.com.au
(http://www.asx.com.au) , and on MC Mining's website, www.mcmining.co.za
(http://www.mcmining.co.za) , as will news of any other developments in
relation to the Takeover Offer.

 

Shareholders are encouraged to read the Supplementary Target's Statement in
its entirety, and discuss it with their legal, financial and professional
advisers. If you have any queries in relation to the Takeover Offer, please
call the Target Shareholder Line on +61 461 444 038 between 9.00am and 7.00pm
(Sydney time) on Business Days (if calling from within Australia) and prior to
1pm (Johannesburg time) and 11am (London time).

The Takeover Offer will remain open until 7:00pm (Sydney time) on 5 April
2024, unless the Offer is extended or withdrawn by Goldway.

The IBC look forward to your continuing support as we respond to the Takeover
Offer.

Khomotso Mosehla

Chairman of the IBC

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended.

 

This announcement has been approved for release by the Company's Disclosure
Committee.

 

 

 

 

 

 

 For more information contact:
             Tony Bevan                     Company Secretary               Endeavour Corporate Services          +61 42 1072 165
             Company advisers:
             Richard Johnson / Rob Patrick  Nominated Adviser               Strand Hanson Limited                 +44 20 7409 3494

             Rory Scott                     Broker (AIM)                    Tennyson Securities                   +44 20 7186 9031
             Marion Brower                  Financial PR (South Africa)     R&A Strategic Communications          +27 11 880 3924
             BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

About MC Mining Limited:

MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining
company operating in South Africa. MC Mining's key projects include the
Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard
coking coal), Vele Colliery (semi-soft coking and thermal coal), and the
Greater Soutpansberg Projects (coking and thermal coal).

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