Continental Coal Ltd Appoints Special Board Committee

 
TIDMCOOL 
 
5 November 2013 
 
By e-lodgement 
 
 CONTINENTAL COAL APPOINTS SPECIAL BOARD COMMITTEE TO REVIEW FUNDING PROPOSALS 
 
Continental Coal Limited (ASX: CCC / AIM : COOL) ("Continental" or "the 
Company") the South African thermal coal production, development and 
exploration company, is pleased to announce that it has appointed a Special 
Board Committee to review various funding proposals received to refinance and/ 
or restructure the Company's Convertible Debentures, maturing from November 
2013 to February 2014. 
 
The Special Committee consists of independent Non-Executive Directors, Ron 
Chamberlain (Chairman of the Special Committee), Mike Kilbride and Johan 
Bloemsma. The Board of Continental has mandated the Special Committee to review 
the various funding proposals received and, together with management, lead the 
process to select the appropriate funding mechanism and transaction structure 
in order to maximise shareholder value and is in the best interests of the 
Company. 
 
During the past few months Management has identified and engaged with potential 
funders, and under the oversight of the Special Committee, will progress 
negotiations with a short list of selected funders with the objective to obtain 
binding, unconditional offers by the end of November 2013 that will be 
presented to the Board for approval. 
 
Commenting on the appointment of the Special Board Committee, Continental Chief 
Executive Officer, Mr Don Turvey said: 
 
"We are encouraged by the number of funding proposals received and therefore 
appointed the Special Board Committee to oversee the final stage of 
negotiations to ensure the most appropriate funding alternative is selected. 
Ron, Mike and Johan are seasoned professionals when it comes to the review of 
strategic transactions and with their experience and oversight we are confident 
that the selected funding mechanism will allow for a sustainable future capital 
structure that is focussed towards enhancing shareholder value." 
 
For and behalf of the Board 
 
Don Turvey 
 
Chief Executive Officer 
 
For further information please contact: 
 
Investors/ shareholders 
Don Turvey 
Chief Executive Officer 
 
Lou van Vuuren 
Chief Financial Officer 
 
T: [phone] 
E: [e-mail] 
W: www.conticoal.com 
 
Media (Australia) 
David Tasker 
Professional Public Relations 
T: [phone] 
 
Nominated Advisor 
Stuart Laing 
RFC Ambrian Limited 
T: [phone] 
 
Brokers 
Jeremy Wrathall / Chris Sim                 Jonathan Williams 
Investec Bank plc                           RFC Ambrian Ltd 
T: [phone]                         T : [phone] 
 
About Continental Coal Limited 
 
Continental Coal Limited (ASX:CCC/AIM: COOL) is a South African thermal coal 
producer with a portfolio of projects located in South Africa's major coal 
fields including three operating mines, the Vlakvarkfontein, Ferreira and 
Penumbra Coal Mines, producing approx. 2.2Mtpa of thermal coal for the export 
and domestic markets. A Feasibility Study was also completed on a proposed 
fourth mine, the De Wittekrans Coal Project. 
 
Forward Looking Statement 
 
This communication includes certain statements that may be deemed 
"forward-looking statements" and information. All statements in this 
communication, other than statements of historical facts, that address future 
production, reserve potential, exploration drilling, exploitation activities 
and events or developments that the Company expects to take place in the future 
are forward-looking statements and information. Although the Company believes 
the expectations expressed in such forward-looking statements and information 
are based on reasonable assumptions, such statements are not guarantees of 
future performance and actual results or developments may differ materially 
from those in the forward-looking statements and information. Factors that 
could cause actual results to differ materially from those in forward-looking 
statements include market prices, exploitation and exploration successes, 
drilling and development results, production rates and operating costs, 
continued availability of capital and financing and general economic, market or 
business conditions. Investors are cautioned that any such statements are not 
guarantees of future performance and actual results or developments may differ 
materially from those stated. 
 
 
 
END