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REG - MC Mining Limited - Takeover Bid - Receipt of Bidder's Statement

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RNS Number : 8878B  MC Mining Limited  02 February 2024

February 2024






Further to the previous announcements regarding a Notice of Intention to make
a takeover offer followed by a Revised Non-Binding and Indicative Proposal, MC
Mining Limited (MC Mining or the Company) has now received a copy of a
Bidder's Statement, dated 2 February 2024. The Bidder's Statement relates to
an off-market takeover bid by a consortium of joint-bidders for all of the
fully paid ordinary shares on issue in the Company they do not currently own
(Takeover Offer).

The joint-bidders include Senosi Group Investment Holdings Proprietary Limited
(Senosi) and Dendocept Proprietary Limited (Dendocept) and certain other
shareholders and associates who represent, in aggregate, 64.3%(1) of the
issued capital in the Company (together, the Consortium).  The Takeover Offer
is made by Goldway Capital Investment Limited (company registration number
3294426, a Hong Kong incorporated company and associate of the Consortium
joint bidders) and  proposes to acquire all of the MC Mining shares that the
Consortium currently does not own at a cash price of A$0.16 per share. The
Bidder's Statement has been lodged with the Australian Securities &
Investments Commission and the Australian Stock Exchange on 2 February 2024.

The established Independent Board Committee (IBC) reiterates that shareholders
should TAKE NO ACTION in respect of the Takeover Offer and Bidder's Statement
until the IBC has had the opportunity to fully consider the Bidder's
Statement. The Company will respond with a Target Statement that will include
an Independent Expert Report and the IBC's recommendation in relation to the
Takeover Offer under the Bidder's Statement. Until then, MC Mining
shareholders should not take any action.

Should you have any queries regarding the Takeover Offer and Bidder's
Statement, please contact Tony Bevan, MC Mining's Company Secretary, on
tonyb@westozcorporate.com.au (mailto:tonyb@westozcorporate.com.au) .

A copy of the Bidders Statement can be viewed on the Company's website at

 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


(1) As at the date of this announcement, Senosi Group Investment Holdings
Proprietary Limited holds 23.4% and Dendocept Proprietary Limited holds 6.9%
of the current issued capital of the Company.


 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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