Published: 04 July 2017

Details

RIGHTS ISSUE

Further to the cautionary statement published on 7 October 2016, Hwange Colliery Company Limited wishes to advise its Shareholders and the public that after consultations with major Stakeholders and professional advisors, the Company has found it prudent to pursue a debt management plan ahead of any capital raising initiatives. As such the Company has suspended discussions involving the rights issue and private placement and is at advanced stages of a Scheme of Arrangement with creditors.

SCHEME MEETINGS

Pursuant to the granting of the High Court Order authorizing the Company to convene scheme meetings, the Company is finalizing engagements with its creditors for a mutually acceptable debt management plan. The Creditors and Shareholders of Hwange Colliery Company Limited shall be notified of the Scheme Meeting date, time and venue.

Pending finalization of the foregoing discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the Company's shares and to consult their professional advisers before dealing in the Company's shares.
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