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,
and on MC Mining's website, 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extended or withdrawn by Goldway.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:
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Tony Bevan
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Company Secretary
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Endeavour Corporate
Services
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+61 42 1072 165
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Company advisers:
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Richard Johnson / Rob
Patrick
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Nominated Adviser
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Strand Hanson Limited
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+44 20 7409 3494
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Rory Scott
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Broker (AIM)
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Tennyson Securities
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+44 20 7186 9031
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Marion Brower
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Financial PR (South
Africa)
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R&A Strategic
Communications
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+27 11 880 3924
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BSM Sponsors Proprietary Limited is
the nominated JSE Sponsor
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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).