08 Jun

MEMORANDUM

TO:                 ALL MEMBERS OF UASA-THE UNION: OPTIMUM COAL MINE

FROM:            ADVOCATE NICK VAN ROOYEN

                        DIVISIONAL MANAGER: LEGAL AND SPECIALIST SERVICES

DATE:             Monday September 28,2020

SUBJECT:      BUSINESS RESCUE PROCESS: OPTIMUM COAL MINE (“OCM”)

____________________________________________________________________________

A meeting was held today on Monday September 28, 2020 in terms of section 151 of the Companies Act in order to consider a remaining and sole bid for Optimum Coal Mine by Templar Capital Limited.

By a vote in excess of 87% of the Creditors, the Business Rescue Plan was approved today. Once substantial compliance with the conditions of the bid has been confirmed by the Business Rescue Practitioners members of UASA-The Union will be advised of developments as they unfold.

Yours faithfully

ADVOCATE NICK VAN ROOYEN

DIVISIONAL MANAGER: LEGAL AND SPECIALIST SERVICES

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