DGAP-News: ICHOR Coal N.V.: IchorCoal converts corporate

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News Desk 2018

Aug 1, 2014 at 10:00 AM

DGAP-News: ICHOR Coal N.V.: IchorCoal converts corporate bonds into equity

DGAP-News: ICHOR Coal N.V. / Key word(s): Bond ICHOR Coal N.V.: IchorCoal converts corporate bonds into equity 01.08.2014 / 15:54 --------------------------------------------------------------------- IchorCoal converts corporate bonds into equity - Bonds with a total value of EUR 33 million will be converted into shares - Approval of the shareholders already obtained - "Transaction strengthens our balance sheet and testifies to the confidence of investors" Berlin, 1 August 2014: IchorCoal NV, a mineral resource company specialising in investments in coal production, is converting corporate bonds totalling EUR 33 million that were issued in June and October 2013 into new shares of the company. The transaction will be completed in early August and will significantly strengthen the equity base of IchorCoal. "Furthermore, we consider the approval given by the shareholders to be an expression of confidence in our company," says Nonkululeko Nyembezi-Heita, the CEO of IchorCoal. The company had issued the corporate bonds in 2013 with a volume of up to EUR 40 million and had placed EUR 35 million mainly with institutional investors. The proceeds were used at the time to raise IchorCoal's stake in its South African participation Mbuyelo Coal and to intensify the ramp-up of Vunene Mining. Both tranches carry an interest rate of 6.5 % and mature in May 2015. The conversion of the bonds into shares was approved by the shareholders at the Extraordinary General Meeting (EGM) held on 27 March 2014. Any remaining bondholder who wishes to exchange its corporate bonds at the same terms can instruct his depository bank to deliver the bonds to the deposit account of the issuer with the tender agent. This conversion of debts into equity significantly improves IchorCoal's balance sheet. In addition, the company also saves considerable interest payments. "This transaction gives us additional room to pursue value-enhancing acquisitions when the opportunity arises and to further develop IchorCoal into a significant mid-tier coal producer on the South African market," explains Nonkululeko Nyembezi-Heita. The Management Board About IchorCoal N.V. IchorCoal N.V. is an internationally operating mineral resource company specialising in investments in coal production. The company possesses its own coal resources and sells the produced coal on local and international markets. It currently holds substantial equity positions in several South African mining companies. IchorCoal is headed by its CEO Nonkululeko Nyembezi-Heita, COO Andries Engelbrecht and CFO Sebastian Giese. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, words such as "could," "plan," "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the possibility that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: Ichor Coal N.V. An der Wuhlheide 232, 12459 Berlin Tel.: +49 30 65 66 81 60 Fax: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76, 60594 Frankfurt Tel.: +49 69 94418069 Mobile: +49 171 8311216 Thomas.luber@newmark.de --------------------------------------------------------------------- 01.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 280486 01.08.2014

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