MC MINING LIMITED - Cancellation of Admission to Trading on AIM

Cancellation of Admission to Trading on AIM

 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   

20 May 2024                                                                      

CANCELLATION OF ADMISSION TO TRADING ON AIM

MC Mining Limited (MC Mining or the Company) notes the announcements by Goldway Capital
Investment Limited (Goldway), pursuant to which Goldway's off-market takeover offer for all of the
ordinary shares in MC Mining (Ordinary Shares) not already owned by Goldway or its associates (the
Offer) was declared unconditional on 8 April 2024 and closed on 22 April 2024, with Goldway receiving
acceptances representing in excess of 75% of the Ordinary Shares subject to the Offer. Goldway
announced on 23 April 2024 that, together with acceptances received under the Offer, its relevant
interest represented 93.05% of the Company's issued ordinary share capital. The Offer process was
completed on 30 April 2024.


Accordingly, pursuant to Rule 41 of the AIM Rules for Companies, the Company provides notification
of the cancellation of the admission to trading on AIM of MC Mining's Ordinary Shares (the AIM
Cancellation). The AIM Cancellation is expected to take place at 7:00 a.m. BST on 19 June 2024 and,
accordingly, the final day of trading on AIM of the Ordinary Shares will be 18 June 2024.


Goldway announced in certain of its Bidder's Statements that, in the event the Offer is successfully
concluded and it is eligible, it may exercise the general compulsory acquisition rights over all the
Ordinary Shares not owned by Goldway, or its associates, under the Australian Corporations Act.
However, Goldway has not yet confirmed whether it will proceed with such process. In addition,
Goldway announced its intention to seek the delisting of the Ordinary Shares from the ASX and JSE,
although to date the formal commencement of this process has not been announced. Consequently,
it is currently expected that following the AIM Cancellation becoming effective, the Ordinary Shares
will continue to be listed and traded on the ASX and JSE.


In light of this, there is no current intention for the Company to provide a matched bargain facility
following the AIM Cancellation. However, in the event that Goldway proceeds with the delisting by
MC Mining of the Ordinary Shares from both the ASX and the JSE, the Company will reassess this
position. Shareholders should note that there is no certainty that Goldway will exercise any
compulsory acquisition rights, if eligible to do so, nor is there any certainty that a matched bargain
facility will be put in place. The liquidity and marketability of the Ordinary Shares may be significantly
reduced following the AIM Cancellation and should MC Mining's delisting from the ASX and JSE
proceed, the ability of shareholders to trade the Ordinary Shares will be further restricted.


This announcement has been approved by the Company's Disclosure Committee.

 For more information contact:
 Bill Pavlovski         Company                Vision Corporate (Pty)          bill.pavlovski@mcmining.co.za
                        Secretary              Ltd
 Company advisers:
 Richard Johnson / Rob Nominated               Strand Hanson                   +44 20 7409 3494
 Patrick                Adviser                Limited

 Rory Scott               Broker (AIM)         Tennyson Securities             +44 20 7186 9031
 Marion Brower            Financial PR         R&A Strategic                   +27 11 880 3924
                          (South Africa)       Communications

 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).




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Date: 20-05-2024 04:30:00
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