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Supplementary Target’s Statement in response to the Off-Market Takeover Bid - Do Not Accept
MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in
Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM
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extended or withdrawn by Goldway.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:
Tony Bevan Company Secretary Endeavour Corporate Services +61 42 1072 165
Company advisers:
Richard Johnson / Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Rob Patrick
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).
Date: 18-03-2024 09:00:00
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