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DGAP-Adhoc: ICHOR Coal N.V.: Sapinda Holding B.V. Debt Conversion

| Quelle: Dow Jones Newswire Web

DGAP-Ad-hoc: ICHOR Coal N.V. / Key word(s): Agreement
ICHOR Coal N.V.: Sapinda Holding B.V. Debt Conversion

19-Jun-2017 / 10:15 CET/CEST
Dissemination of an Adhoc-announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*Ad-hoc announcement pursuant to Article 17 Abs. 1 of the Market Abuse
Regulation (Regulation (EU) No. 596/2014)*

*Sapinda Holding B.V. Debt Conversion*

Ichor Coal N.V. (IchorCoal) is pleased to announce that it has concluded an
agreement with Sapinda Holding B.V. to convert all outstanding shareholder
loans to all Sapinda group companies into equity. The conversion will be
effected in two stages.

The total outstanding shareholder loan as at end May 2017 is EUR10.8m.

The first stage will involve issuing new shares in the share capital of
Ichor Coal N.V. at an issue price of EUR0.40 per share for a total
subscription amount of EUR2.7m. This amount will be set off against the loan
balance after which the outstanding shareholder loan will reduce to EUR8.1m.

The total number of new shares to be issued in this initial phase will be
6,7500, 000. This equates to slightly less than 10% of the total IchorCoal
issued shares. This falls within the authority of the management board to
transact with the approval of the supervisory board as approved by
shareholders at the general meeting on 28 June 2015 for a period of 5 years.
As this issuance takes place as a private placement with Sapinda Holding
B.V. under favourable terms and conditions for IchorCoal considering the
current share price, the management board, with the approval of the
supervisory board, has resolved to exclude pre-emptive rights of existing
shareholders in connection with this issuance.

The closing date for the first stage will be on or before 23 June 2017.

Sapinda and IchorCoal have further agreed to convert the remainder of the
shareholder loan into equity on the same terms subject to the approval of
IchorCoal shareholders at a general meeting to be convened for that purpose.
Further updates will be provided in due course.

19-Jun-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: ICHOR Coal N.V.
30 Jellicoe Avenue
South Africa
Phone: +27 (11) 268 1100
E-mail: johan.myburgh@ichorcoal.com
Internet: www.ichorcoal.de
ISIN: NL0010022307
Listed: Regulated Unofficial Market in Hamburg, Stuttgart; Open Market
(Basic Board) in Frankfurt

End of Announcement DGAP News Service

583939 19-Jun-2017 CET/CEST

(END) Dow Jones Newswires

June 19, 2017 04:15 ET (08:15 GMT)


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