CORPORATE UPDATE ACQUISITION OF AND/OR DIRECT INVESTMENT IN THE...

CORPORATE UPDATE
ACQUISITION OF AND/OR DIRECT INVESTMENT IN THE COMPANY’S SOUTH AFRICAN COAL ASSETS
Continental Coal Limited (ASX: CCC/ AIM: COOL) (“Continental” or “the Company”) the South
African thermal coal production, development and exploration company, is pleased to provide an
update on the status of the formal process (as advised in the ASX Announcement dated 10
September 2012) that is currently underway in respect of a significant direct investment and/or
acquisition of one or more of its African thermal coal mining assets by a number of short-listed parties.
As previously advised the Company has received several approaches from Indian based coal and
power utility companies, as well as major global commodity trading and private equity groups,
looking to acquire all or part of the Company’s South African thermal coal mining business. Based on
these approaches, the Company formalised a due diligence and bidding process with its advisors in
South Africa and a final short-list of parties were pre-qualified to complete final due diligence and
submit final binding and committed offers.
The Company can confirm that it has received requests from a number of these parties to extend the
timetable by which final binding offers are due. Given the nature of these bids, the Company has
now agreed to extend the Final Bid Deadline from 28 September to 15 October 2012.
The Company anticipates that upon receipt of these bids and following a detailed review of them by
the Board and its advisors, an update to the market will then be made.
For and on behalf of the Board